Stack Capital Holding Prove Identity Announces Strategic Partnership with BetMGM

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TORONTO, April 03, 2024 (GLOBE NEWSWIRE) -- Stack Capital Group Inc., (TSX:STCK and STCK.WT) is pleased to announce that Prove Identity, Inc. (“Prove”), an existing portfolio holding, has entered into a strategic partnership with BetMGM, a market-leading sports betting and gaming entertainment company which operates leading brands such as BetMGM, Borgata Casino, Party Casino, and Party Poker.

Metadata

Provider:

GlobeNewswire, Inc.

Retrieved on:

Wednesday, April 3, 2024

Information

Tags:

Partnership, Partypoker, Borgata, TSX, MGM Resorts International

Geotags:

TORONTO, ON, CA

⚠ partially generated by AI ↴

Organisation:

STACK CAPITAL GROUP, STACK CAPITAL GROUP INC., STACK CAPITAL, PROVE IDENTITY, BETMGM

Stock Symbol:

NYSE:MGM

LSE:ENT

LSE:ENT.L

Summary

Key Points:

TORONTO, April 03, 2024 (GLOBE NEWSWIRE) -- Stack Capital Group Inc., (TSX:STCK and STCK.WT) is pleased to announce that Prove Identity, Inc. (“Prove”), an existing portfolio holding, has entered into a strategic partnership with BetMGM, a market-leading sports betting and gaming entertainment company which operates leading brands such as BetMGM, Borgata Casino, Party Casino, and Party Poker.
Pending regulatory approval, the partnership will allow BetMGM to utilize Prove’s Pre-Fill® identity solution across its entire sports betting platform, including all of MGM’s U.S. land-based and online sports betting, major tournament poker, and online gaming businesses.
Accelerated customer onboarding, enhanced security, and an improved overall customer experience are some of the benefits that Prove’s Pre-Fill® identity solution will provide, enabling BetMGM to deliver a seamless and more secure betting platform for its customers.
“Partnering with BetMGM, a leader in digital sports betting and casino services, represents a meaningful milestone for Prove,” said Jeff Parks, CEO of Stack Capital.

TORONTO, April 03, 2024 (GLOBE NEWSWIRE) -- Stack Capital Group Inc., (TSX:STCK and STCK.WT) is pleased to announce that Prove Identity, Inc. (“Prove”), an existing portfolio holding, has entered into a strategic partnership with BetMGM, a market-leading sports betting and gaming entertainment company which operates leading brands such as BetMGM, Borgata Casino, Party Casino, and Party Poker.

Pending regulatory approval, the partnership will allow BetMGM to utilize Prove’s Pre-Fill^® identity solution across its entire sports betting platform, including all of MGM’s U.S. land-based and online sports betting, major tournament poker, and online gaming businesses. Accelerated customer onboarding, enhanced security, and an improved overall customer experience are some of the benefits that Prove’s Pre-Fill^® identity solution will provide, enabling BetMGM to deliver a seamless and more secure betting platform for its customers.

Stack Capital Holding Prove Identity Announces Strategic Partnership with BetMGM

“Partnering with BetMGM, a leader in digital sports betting and casino services, represents a meaningful milestone for Prove,” said Jeff Parks, CEO of Stack Capital. “While Prove’s Pre-Fill solution is already used by 1,000+ businesses worldwide, including 9 of the top 10 US Banks, this partnership only serves to further validate the strength of the technology, and the benefits that it delivers.”

To access a copy of Prove’s announcement please click here.

About Stack Capital

Stack Capital is an investment holding company and its business objective is to invest in equity, debt and/or other securities of growth-to-late-stage private businesses. Through Stack Capital, shareholders have the opportunity to gain exposure to the diversified private investment portfolio; participate in the private market; and have liquidity due to the listing of the Common Shares and Warrants on the TSX. At the same time, the public structure also allows the Company to focus its efforts on maximizing long-term performance through a portfolio of high growth businesses, which are not widely available to most Canadian investors. SC Partners Ltd. (the "Manager") has taken the initiative in creating the Company and acts as the Company's administrator and is responsible to source and advise with respect to all investments for the Company.

About Prove Identity

As the world moves to a mobile-first economy, businesses need to modernize how they acquire, engage with, and enable consumers. Prove’s phone-centric identity tokenization and passive cryptographic authentication solutions reduce friction, enhance security and privacy across all digital channels, and accelerate revenues while reducing operating expenses and fraud losses. Over 1,000 enterprise customers use Prove’s platform to process 20 billion customer requests annually across industries, including banking, lending, healthcare, gaming, crypto, e-commerce, marketplaces, and payments. For the latest updates on Prove, visit our website.

About BetMGM

BetMGM is a market-leading sports betting and gaming entertainment company, pioneering the online gaming industry. Born out of a partnership between MGM Resorts International (NYSE: MGM) and Entain Plc (LSE: ENT), BetMGM has exclusive access to all of MGM's U.S. land-based and online sports betting, major tournament poker, and online gaming businesses. Utilizing Entain's U.S.-licensed, state-of-the-art technology, BetMGM offers sports betting and online gaming via market-leading brands including BetMGM, Borgata Casino, Party Casino, and Party Poker. Founded in 2018, BetMGM is headquartered in New Jersey. For more information, visit www.betmgminc.com.

For more information, please visit our website or contact:

Brian Viveiros
VP, Corporate Development, and Investor Relations
647.280.3307
[email protected]

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/3a69ba8a-6aa1-43ef-84e9-f6e1589fa501