Financial institution Pavilion Payments expands its portfolio by purchasing software provider CasinoSoft.
In a strategic move to grow its business, Pavilion Payments has announced the acquisition of CasinoSoft. This acquisition aims to bolster Pavilion Payments' offerings with new patents, innovative products, and transformative solutions.
CasinoSoft, a company specializing in anti-money laundering (AML) and Title 31 compliance, automated tax forms, jackpot processing, and associated reporting services, will now expand its capabilities by joining Pavilion Payments. This merger creates a vertically integrated platform for casinos, route gaming, igaming, and sportsbook operators.
Dan Connors, CEO of Pavilion Payments, expressed delight at the addition of CasinoSoft to their team. He stated that the integration of CasinoSoft's products into their lineup furthers their delivery of a vibrant and diverse portfolio of products and services. CasinoSoft Principal and Owner Matt Montano also expressed excitement about the acquisition, stating that it moves the company to the next level.
Diallo Gordon, President of Pavilion Payments, made a statement about the acquisition, saying, "The combined Pavilion Payments and CasinoSoft platform offers end-to-end compliance and payment services integrated into a unified solution for casinos and gaming operators."
Key Benefits of the Merger
The integrated platform offers several key benefits:
- Integrated Compliance Tools: CasinoSoft’s established software modules for AML monitoring, Title 31 compliance, automated tax form processing, jackpot processing, and regulatory reporting are now fully integrated into Pavilion Payments’ ecosystem, ensuring properties can maintain federal regulatory compliance more easily.
- Operational Automation: The combined platform automates manual tasks such as suspicious activity monitoring, tax form management, jackpot documentation, and floor/cage operations, significantly reducing errors and delays.
- Expanded Payment and Funding Solutions: Pavilion Payments’ omnichannel payment system, including player funding and cashless gaming innovations, is enhanced by CasinoSoft’s compliance technology, delivering a seamless fintech solution for casinos and sportsbooks.
- Strategic Growth and Innovation: Pavilion Payments plans to leverage this acquisition to develop new patents, innovative products, and transformative technologies that position the platform as a leader in fintech payments and automation within the gaming industry.
- Broader Ecosystem Reach: CasinoSoft extends its market presence and capabilities by joining Pavilion Payments’ extensive partner network, allowing both companies to serve clients more effectively and secure new strategic partnerships.
The integrated platform streamlines floor, cage, and slot operations, making them faster, easier, and more secure. For over two decades, CasinoSoft has helped casinos streamline Title 31, AML, tax forms, and jackpot workflows, keeping operations audit-ready and freeing up staff to focus on the guest experience. The acquisition positions Pavilion Payments as the clear leader in fintech payments, cashless gaming, cage, and floor automation.
[1] Pavilion Payments Press Release, [link to press release] [2] CasinoSoft Press Release, [link to press release] [3] Gaming Industry News, [link to news article] [4] Compliance Today, [link to news article]
- This strategic acquisition of CasinoSoft by Pavilion Payments will deliver an enhanced fintech solution, as the integrated platform will now offer expanded payment and funding solutions including player funding, cashless gaming innovations, and automated tax form processing.
- The combined platform will streamline floor, cage, and slot operations, offering integrated compliance tools such as AML monitoring, Title 31 compliance, and regulatory reporting, thereby ensuring properties can maintain federal regulatory compliance more easily.
- With the merger, Pavilion Payments plans to leverage CasinoSoft's technology to develop new patents, innovative products, and transformative technologies in data and cloud computing, ultimately positioning the platform as a leader in fintech payments and automation within the gaming industry.
