written and last updated by
Sam Smith at
13 Feb 2023
Journalist, Editorial Department
Private investment firm Parthenon Capital has agreed to acquire the gaming division of Global Payments for an undisclosed amount. Under the terms of the deal, which is expected to close by the end of March, Global Payments Gaming Solutions will become a new independent company named Pavilion Payments.
Despite the transition, the new entity will continue to offer existing payment solutions for the gaming industry, including VIP Mobility and VIP Preferred. The leadership team, headed by Christopher Justice, will remain in place at Pavilion Payments.
Justice commented, "This deal enables our business to meet the growing demands of the gaming industry and capitalize on growth trends, particularly in markets like gaming. We are focused on creating unique experiences for both land-based and online gaming audiences. Clients can expect further targeted investments in innovation and product development that will provide more sophisticated tools to enhance user engagement and satisfaction, increase revenue, and reduce friction."
Founded in 1998 in Boston, Parthenon Capital is a private investment firm that partners with management teams and invests in their companies.
Parthenon partner Zak Sadek added, "We are very excited about our collaboration with the Pavilion Payments team. The company's innovative product portfolio, including the industry's only omnichannel payment offering and top-tier cashless solutions, enables the business to continue driving success for its clients."
In related news, Mohegan plans to launch non-gaming operations at Inspire Korea by the end of 2023.
