Secure Trading hope deal will lead to tribal gaming boost
Payment services provider Secure Trading has signed a strategic partnership with technology firm OTP, through which it hopes to gain a foothold in the US tribal gaming market.
The deal gives tribal gaming specialist OTP the exclusive rights to resell Secure Trading’s ST-1 payments and verification platform, which is licensed in New Jersey, Nevada and Delaware.
Secure Trading describes the deal as “significant” as it seeks a share of the $28 billion (€22.4 billion) in annual gaming revenues generated by the 80 million Americans that visit 460 tribal casinos across the country.
“This partnership represents a major opportunity in the US gaming market enabling us to co-operate closely with the Indian Tribes to provide a fully compliant platform aligned with market needs," Secure Trading chief executive Kobus Paulsen said.
“Having spent a long time being part of the regulatory process our announcement today will help us access new markets and enable tribal businesses across native North America to significantly increase revenues and extend reach by providing consumers with greater choice and a better experience.”
As well as the existing possibilities with tribal casinos, Secure Trading believes that the sector will be at the forefront of developments in online gaming that could become available in a number of US states in the coming years.
California-based OTP is led by chief executive Rico Garcia, an enrolled member of the San Manuel Band of Mission Indians and former managing director of Global Business Development.
Garcia said: “iGaming allows for our casino operations to reach a global audience. And with that, the stories of our people will too. And, in the end, that is what I want more than anything else: For the indigenous people of this land to be able to communicate our stories to the world and reach more people.”