Pavilion Payments Acquires CasinoSoft to Fuse Payments Rail with AML Compliance
- Gaming Eminence
- Jul 21
- 4 min read
Updated: Jul 29
Pavilion Payments has completed its acquisition of compliance software pioneer CasinoSoft in an all-equity deal announced on July 18, 2025. The move integrates CasinoSoft’s industry-leading Title 31/AML, jackpot, tax-form, and reporting tools directly into Pavilion’s omnichannel payments infrastructure—creating North America’s first end-to-end platform that unifies player funding with full compliance automation. The acquisition responds to rising regulatory demands and accelerating adoption of cashless gaming, positioning Pavilion at the center of a fast-consolidating fintech landscape.
A summer of fast‑moving fintech consolidation has delivered its most intriguing subplot yet. Pavilion Payments, the Global Payments spin‑out backed by Parthenon Capital, has snapped up Henderson‑based CasinoSoft in an all‑equity deal announced on 18 July in Las Vegas. The transaction folds two decades of Title 31/AML expertise directly into an omnichannel payments stack that already processes ≈£4.3 billion (US $5.5 billion) in annual handle for 400‑plus casinos and iGaming brands.
Industry analysts we spoke to call the move “a logical—but long overdue—marriage of money in and risk out.” With regulators sharpening their knives—FinCEN issued its first casino AML fine in six years last autumn—operators have little appetite for juggling siloed vendors. Against that backdrop, Pavilion’s bid to offer a single throat to choke carries strategic weight that extends well beyond the cage.
Inside the deal
Metric | Detail |
|---|---|
Announcement date | 18 July 2025 (Las Vegas) |
Transaction type | All‑equity acquisition; first for Pavilion since Global Payments carve‑out (2023) |
Assets in play | Pavilion’s VIP Preferred®, ACH, kiosk & mobile funding tools + CasinoSoft’s AML/Title 31, automated tax‑form, jackpot and regulatory‑reporting modules |
Combined footprint | ~400 casinos & iGaming sites; 20‑year compliance track record |
Direct from the principals
“We have put 20 years of our heart and soul into building the CasinoSoft brand and are thrilled with the many ways this acquisition moves us to the next level. The success of our robust suite of AML/Title 31 and tax‑form products is evidenced by the longstanding partnerships we enjoy with our many satisfied customers throughout the industry.” — Matt Montano, Principal & Owner, CasinoSoft
“CasinoSoft is the industry standard for AML/Title 31 compliance, automated tax forms, jackpot processing, and associated reporting services. With this acquisition, we plan to grow the broader Pavilion business with several new patents, innovative products, and transformative solutions that position us as the clear leader in fintech payments, cashless gaming, cage and floor automation.” — Diallo Gordon, President, Pavilion Payments
“At Pavilion Payments, we pride ourselves on offering our partners and customers a vibrant and diverse portfolio of products and services. The addition of CasinoSoft’s products to our line‑up furthers our delivery on that goal. We’re delighted to add CasinoSoft to our team and look forward to delighting our customers with them.” — Dan Connors, CEO, Pavilion Payments
Why it matters
Regulators are restless: FinCEN’s £700k hammer on Lake Elsinore Hotel & Casino last year served notice that dormant AML enforcement is over. CasinoSoft’s workflow—built to spit out CTRs, SARs and other Title 31 artefacts in seconds—drops directly into Pavilion’s funding rails, giving operators one audit‑ready dashboard.
Cashless adoption hits the inflection point: GGB and CDC Gaming both chart cashless traction lingering below 20 % of casino transactions today—but AGA forecasts a 50 % share by 2027 in digital‑first jurisdictions. By merging compliance with payments, Pavilion positions itself as the plug‑and‑play rails for that upswing.
Competitive heat is rising: Everi’s ecash buy‑out and Sightline’s wallet push highlight a land‑grab for end‑to‑end fintech suites. Pavilion’s move keeps it in the conversation—and perhaps signals a future bolt‑on in KYC or fraud analytics.
Market backdrop: payments converge with reg‑tech
Parthenon Capital’s playbook: Pavilion is the latest in a line of Parthenon payments bets—following Cayan, BillingTree and Payroc—that chase recurring transaction revenue with high regulatory barriers.
CasinoSoft’s origins: Founded 2003 in Henderson, the firm cut its teeth on jackpot tax automation before expanding into full AML suites covering CTR, SAR, W‑9 and document management.
Operator pain‑points: Large multi‑state groups now juggle up to eight discrete systems—credits, jackpots, AML, payments, player wallets, cage kiosks, mobile—in every property. Integration debt is growing unmanageable.
Strategic implications
Theme | Short‑term impact | 12‑month outlook |
|---|---|---|
Tech integration | Immediate need for API harmony and data‑mapping between CasinoSoft and VIP Preferred | Unified UI/UX road‑map; single data lake for funding + compliance |
Regulatory signalling | Pavilion can pitch a one‑vendor compliance stack to risk‑averse tribal and commercial operators | Tightens moat as AML/Title 31 rules evolve at state level |
Growth avenues | Cross‑sell compliance to Pavilion’s 400‑operator client list; introduce cashless rails to CasinoSoft legacy customers | Potential acquisitions in KYC, sanctions‑screening or player‑protection analytics |
Challenges to watch
Cultural integration: blending CasinoSoft’s boutique compliance culture with Pavilion’s aggressive fintech cadence needs sensitive change management.
Data stewardship: merging two data ecosystems heightens privacy and cybersecurity risk at a time of heightened regulator scrutiny.
Client migration fatigue: operators burned by past vendor roll‑outs will demand watertight migration timelines and service‑level guarantees.
The road ahead
Q3 🔧 Pilot programme: expect limited‑scope deployments at two Midwest riverboat properties to validate data flows and jackpot workflows.
Q4 📈 Commercial release: full platform availability, including mobile jackpot sign‑off and automated tax form e‑filing, in time for the 2025 holiday crush.
2026 🔍 Bolt‑on watch: market chatter points to Pavilion eyeing a fraud‑analytics boutique to round out its stack.
Pavilion Payments’ swoop on CasinoSoft is more than a footnote in the summer’s M&A tape—it’s a directional bet that tomorrow’s casino floor demands a single vendor for funding, fraud and filing. If the integration hits its marks, Pavilion could emerge as the de‑facto operating layer underpinning North American cashless gaming growth.
