Blackstone has committed $250 million to a newly formed payments and data intelligence platform in Abu Dhabi, marking one of the first inbound private equity investments into the Gulf since the outbreak of the Iran conflict.
The vehicle, Advanced Digital Gaming Technology, will build payment infrastructure and data-analytics capabilities for digital and regulated gaming markets, according to a statement. Blackstone established the platform alongside Abu Dhabi-based Raya Holding, gaming-technology provider NRT Technology Corp., and Sightline Payments LLC.
The deal comes as the UAE lays the regulatory foundations for a gaming industry, spurring demand for compliant payments infrastructure. The country set up a federal gaming authority in 2023 and, a year later, awarded its first operator license to Wynn Resorts Ltd., which is developing a resort in Ras Al Khaimah.
Details:
- ADGT plans to initially focus on deployments across the UAE, the Middle East, Africa, and select international corridors.
- The platform is designed to support national-scale deployments, cross-border interoperability, and evolving regulatory frameworks.
- Kirkland & Ellis LLP, Brownstein Hyatt Farber Schreck LLP and Alaeddini & Co acted as legal advisors to Blackstone, whilst Morgan Lewis & Bockius LLP’s Abu Dhabi office acted as legal advisors to ADGT.
Quotes:
- “Built upon modern infrastructure, and with a strong institutional and regulatory framework, we have created a platform that is designed, built, governed and experienced with resilience and scalability in mind,” said Michael Dominelli, CEO of ADGT.
- “We see significant opportunity to deploy capital at scale in the UAE to build companies that can grow both domestically and internationally, despite near term headwinds,” said Jon Gray, President and Chief Operating Officer, Blackstone.
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