LA VEGAS, February 24, 2022 /PRNewswire/ — GBank Financial Holdings Inc. (“GBank” or the “Company”) (OTCQX: GBFH), the parent company of Bank of George (the “Bank”), is pleased to share the press release of Bank Card Services, LLC (“BCS”), a technology company that enables financial institutions to participate in cashless gaming, welcoming Wagr as a new cashless gaming customer of BCS and the Bank of George Gaming FinTech division.
BankCard Services, LLC’s full press release can be found here:
Under its contract with BankCard Services, LLC, Bank of George has been providing banking solutions for Sightline Payments since 2016.
Wagr is a new app that allows sports fans to challenge anyone in their community to a friendly sports bet. The founders Mario Malavé and Eliana Eskinazi created Wagr in April 2020 out of a mutual love of sport and friendly competition. Wagr’s mission is to reinvent sports betting into a fun, social and inclusive experience designed for all sports fans, not just gamblers.
BankCard Services, LLC entered into an agreement with Sightline Payments in 2014 to provide Bank of George as a sponsoring bank to enable Sightlines Play+ cashless solutions for the gaming industry. Today, the Sightline/BankCard partnership Services, LLC/Bank of George serves over 700,000 accounts at Bank of George with over $1.1 billion transactions since the launch of Play+ sports betting in Nevada.
BankCard Services, LLC and Bank of George, a subsidiary of GBank Financial Holdings Inc (GBFH), also launched the Oregon State Lottery’s online sports betting program with SB Tech, World Pay (FIS) and Sightline Payments in 2018 with the development of BankCard Services’ proprietary Player Information Management System (PIMS), LLC. PIMS created the Pooled Player Account structure to enable cashless digital transactions.
GBank Financial Holdings Inc. (“GBank” or the “Company”) (GBFH), a bank holding company with approximately $618 million of assets to December 31, 2021operates through its wholly owned subsidiary, Bank of George (named in honor of george washington). Founded in 2007, the Bank operates two full-service commercial branches in Las Vegas, Nevadawith core lending activities focused on engaging clients in Nevada, California, Utah, and Arizona. Bank of George has key businesses in three major divisions: SBA Lending, Gaming FinTech and Commercial Lending. The Bank operates nationally through its SBA lending business (ranked 19th nationally by the U.S. Small Business Administration for SBA 7(a) dollar lending volume through September 30, 2021) and its partnership. Launched in 2016, its Gaming FinTech division powers the Sightline Payments Play+ solution (Sightline Payments) for transparent and secure payment and gaming that enable cashless mobile commerce solutions for gaming, lottery and sports betting ecosystems – positioning GBank as a financial leader in this new world of payments. The Bank also provides general commercial banking services with an emphasis on the needs of small and medium enterprises, high net worth individuals, professionals and investors. The Bank offers a full suite of consumer deposit products and is focused on providing a superior level of service. Bank of George has been recognized annually for each of the past five years by S&P Global Market Intelligence as one of America’s Top 100 Community Banks under $3 billion in assets. For more information on Bank of George, please visit its website at https://www.bankofgeorge.com. GBank’s common stock is listed on the US OTCQX exchange under the symbol GBFH.
GBank has made forward-looking statements in this press release. These forward-looking statements are subject to risks and uncertainties. Forward-looking statements include information regarding the possible or assumed future results of operations of the Company and its subsidiaries. Where words such as “believes”, “expects”, “anticipates” or similar expressions appear in this press release, the Company is making forward-looking statements. Note that many factors could affect the future financial results of the Company and its subsidiaries, both individually and collectively, and could cause these results to differ materially from those expressed in the forward-looking statements contained in this press release. These factors include, but are not limited to: the recent and ongoing coronavirus (COVID-19) pandemic which poses risks and could adversely affect the Company’s business and results of operations in the coming quarters, the risk conditions, changes in market interest rates, failure to achieve merger synergies, competition, economic slowdown or recession, and government regulation and supervision. The Company assumes no obligation to update or revise any forward-looking statements.
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SOURCEGBank Financial Holdings Inc.