viewAustralis Capital Inc

Passport Technology expands its casino relationship adding 16 more sites in BC and Alberta

Australis Capital revealed that it was acquiring Passport to complement its existing fintech assets.

Australis Capital Inc -
Passport provides cash access services to casinos

Passport Technology Inc, a provider of cash access services to casinos, announced Thursday that it had expanded its services, by adding 16 casinos in British Columbia and Alberta to its platform.

This is on top of its 12 Gateway Casinos & Entertainment (GCEL) locations already supported by Passport in the state of Ontario.

"We’re excited to expand our long-term relationship with GCEL across three Canadian Provinces," said Kurt Sullivan, the president of Passport. 

READ: Australis Capital to acquire casino payment platform Passport Technology, leveraging fintech assets globally

"Passport has accelerated growth in 2020 and based on executed long term agreements in Canada, UK, and Europe, we expect to achieve US$12M in revenue in 2021 with $4 million in operating income, understanding COVID-19 does represent some uncertainty to the global casino industry," he added.

On June 25 this year, Australis Capital Inc (CSE: AUSA) (OTC: AUSAF) revealed that it was acquiring Passport to complement its existing fintech assets.

It will leverage Passport’s international footprint in brick and mortar casinos with Australis’ Cocoon technology serving cannabis dispensaries in North America and Australis’ Paytron Merchant Services.

Quick facts: Australis Capital Inc

Price: 0.205 CAD

Market: CSE
Market Cap: $36.12 m

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