Blackstone has invested $250 million in a new UAE payments and data intelligence platform aimed at the gambling market, offering a vote of confidence in the country’s future as it navigates conflict with Iran.
Advanced Digital Gaming Technology brings together an eclectic group of backers and developers including Abu Dhabi investment firm Raya Holding, Canada’s NRT Technology, which processes payments for North American casinos, and fintech firm Sightline Payments, which is active in the sports betting market.
In another positive sign for the UAE, Vault22, a personal finance platform backed by Standard Chartered Ventures and Franklin Templeton, has moved its headquarters to Dubai’s DIFC as it rolls out new Islamic finance tools, eyeing a $6 trillion market that is largely centered in the Gulf. The firm has paused its fundraising efforts during the conflict, and is focused on growing its number of users, co-founder Benito Mable told Semafor.