Blackstone, Raya, NRT, Sightline partner to invest in UAE payments platform

Blackstone (BX) announced that funds managed by Blackstone have invested $250M in Advanced Digital Gaming Technology, ADGT, a newly established payments and data intelligence technology platform launched from the United Arab Emirates to support regulated digital markets globally. ADGT has been established through a strategic partnership between Blackstone, Raya Holding, and as well as technology partners NRT Technology and Sightline Payments. Jon Gray, President and Chief Operating Officer, Blackstone, said: “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. The UAE is a global leader in travel and leisure, with emerging strength in technology, and we are excited to support ADGT to capitalize on these powerful trends.”