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Caesars Entertainment Inc NASDAQ: CZR-Q

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PayNearMe Approved to Process Online Sports Betting and iGaming Payments in Michigan, Operators Now Accepting Deposits

PR Newswire - PRF - Thu Jun 3, 8:00AM CDT
  

SANTA CLARA, Calif. , June 3, 2021 /PRNewswire-PRWeb/ -- PayNearMe, the payments platform designed to manage the complexities of iGaming, today announced the company has been granted approval by the Michigan Gaming Control Board to provide its award-winning iGaming solution , which simplifies the deposit and payout experience across a wide range of payment types, to licensed operators within the state.

William Hill US, a longtime leader in sports betting and recently acquired by Caesars Entertainment, has been accepting cash deposits at retail locations with PayNearMe since April 2015 , and is among the first to go live in Michigan with the company.

PayNearMe has launched three clients in Michigan that represent over half of the market, and is actively working to enable additional operators across the state to accept players' cash and electronic payment deposits.

"PayNearMe is excited to take our operators live in Michigan . We worked closely with the Michigan Gaming Control Board to ensure our service is compliant with all applicable statutory requirements," said Connor McNulty , Senior Regulatory Counsel, PayNearMe. "PayNearMe now operates and processes payments for licensed online sports betting and iGaming operators in 12 U.S. states, and we're focused on quickly and efficiently expanding our gaming footprint as new states legalize online sports betting and iGaming."

PayNearMe provides a complete payment solution for online sports betting and iGaming, with a focus on removing friction to enable operators to deliver a best-in-class player journey. With one platform and integration, operators can facilitate deposits, payouts and engagements using data to automate decisioning and better manage payment experiences that ultimately reduce costs and increase revenue.

About PayNearMe
PayNearMe is the iGaming industry's only platform that facilitates cards, ACH, cash and mobile-first deposit methods, including Apple Pay and Google Pay. The company processes cash deposits for 9 of the 10 largest U.S. operators and 16 of the 17 largest online casinos in the U.S., including BetMGM, TVG, PointsBet, FanDuel and William Hill .

PayNearMe focuses on removing friction to enable operators to deliver a best-in-class player journey throughout the entire deposit and payouts process. We have deep expertise in the iGaming industry, and directly power, or have integrations that power, more than 95% of U.S. operators to digitize cash deposits.

PayNearMe has enabled cash payments through our proprietary cash network since 2009, and today is accepted at over 26,000 retail locations in the U.S., including participating 7-Eleven®, Family Dollar®, and Casey's General Stores®, among others.

To learn more about PayNearMe, please visit http://www.paynearme.com . Follow PayNearMe on Twitter, LinkedIn and Facebook. The PayNearMe service is operated by PayNearMe MT, Inc., a licensed money transmitter.

This press release contains forward-looking statements regarding product development and availability. The development release and timing of future product releases remains at PayNearMe's sole discretion. Any such referenced products do not represent promises to deliver, commitments or obligations of PayNearMe MT, Inc. PayNearMe assumes no obligation and does not intend to update these forward-looking statements.

Media Contact

Scott Muff , PayNearMe, 402-212-2115, scottm@jonespr.net

 

SOURCE PayNearMe

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COMTEX_387782087/2454/2021-06-03T09:00:34

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