Passport Technology Announces Long-Term Extension With City of Dreams Mediterranean

LONDON, Nov. 9, 2020 /PRNewswire/ -- Passport Technology ("Passport"), is pleased to announce its extension of services with Integrated Casino Resorts (ICR) Cyprus and the City of Dreams Mediterranean.

Beginning in early 2019, Passport was chosen as the premier provider of cash access services for ICR Cyprus and has been chosen to extend this service for a further three years.

"We're very excited to continue this long-term relationship with ICR Cyprus and look forward to the highly anticipated launch of the City of Dreams Mediterranean in 2021," states Kurt Sullivan, President of Passport Technology. "With the challenges the international gaming community has experienced in 2020, we remain committed to providing guests with a safe, enhanced, and responsible gaming experience and look forward to continuing to elevate that experience for ICR Cyprus in the years to come."

As a leading provider of cash access services internationally, Passport has deployed its CashValet® platform across various ICR Cyprus installations, setting the foundation for the City of Dreams Mediterranean launch. The only international PCI-DSS Level 1 and P2PE cash access solution, the CashValet platform is comprised of Passport POSpod® kiosks, providing guests with new cash access sources, high approval amounts, dynamic currency conversions, responsible gambling, layers of integrated security, privacy, and low processing fees. Passport's CashValet® Console cloud-based application not only facilitates approval authorization and quick cash access but also provides operators real-time management of the transaction cycle tailored to the casino requirements, patrons, and VIP guests with an enhanced experience dedicated to providing quick and easy transactions.

"Continuing on with our relationship with ICR Cyprus is a testament to the value we bring our customers," states Helen Bowditch, VP of International Development. "To us at Passport, whether by providing award winning, world class customer support, providing the most secure cash access platform, or most innovative responsible gaming features, we always strive to enhance the customer and patron experience. The City of Dreams Mediterranean is going to be an exciting resort, one in which we're happy to be a part of."

About Passport Technology, Inc.
Passport Technology, Inc. is a leading developer of technology-based products and services for the highly regulated payments, gaming, and financial services markets. The company's portfolio includes attended payment kiosks, cash access systems, server and web-based analytic technology, agnostic application management systems, and interactive content and services in over 50 casino properties internationally.

Passport partners with casino operators to increase gaming revenue by delivering funds to the casino floor through cash and cashless payment portals including CashValet®, CashlessValet™, POSpod®, and ACMowl®. Passport's proactive approach with customers and regulatory authorities in solution development has proven successful and a cornerstone of the business highlighted by responsible gambling features including self-exclusion, VIP alerts, dynamic pricing, free-play, and the industry's most robust real-time back-end reporting tools. Since inception, Passport has responsibly delivered over $2 billion in funds in over 70 casinos internationally.

Passport Technology is recognized as the winner of the Global Regulatory Awards 2018 and 2019 Compliance Payment Service or Solution Provider of the Year.

Learn more about Passport at www.passporttechnology.com

About Integrated Casino Resorts Cyprus Limited (ICR Cyprus)
Integrated Casino Resorts Cyprus Limited ("ICR Cyprus"), comprising Melco Group and The Cyprus Phassouri (Zakaki) Limited, a member of CNS Group, has successfully obtained a 30-year casino-gaming license agreement to develop and operate the integrated resort in Cyprus.

About Melco
Melco Group is a world leader in leisure and entertainment sector with operations in [Hong Kong, Macau and Philippines under the leadership of its Chairman and CEO Mr. Lawrence Ho. The Group has also secured the first casino resort license in Cyprus. Melco holds a majority stake in Melco Resorts & Entertainment Limited, a leading developer, owner and operator of casino gaming and entertainment casino resort facilities in Asia. The Company currently operates Altira Macau (www.altiramacau.com), a casino hotel located in Taipa, Macau and City of Dreams (www.cityofdreamsmacau.com), an integrated urban casino resort located in Cotai, Macau. Its business also includes the Mocha Clubs (www.mochaclubs.com), which comprise the largest non-casino based operations of electronic gaming machines in Macau. The Company also majority owns and operates Studio City (www.studiocity-macau.com), a cinematically-themed integrated entertainment, retail and gaming resort in Cotai, Macau. It currently operates and manages City of Dreams Manila (https://www.cityofdreamsmanila.com/en), a casino, hotel, retail and entertainment integrated resort in the Entertainment City complex in Manila, Philippines. For more information about Melco, please visit www.melco-group.com.

About The Cyprus Phassouri (Zakaki) Limited
The Cyprus Phassouri (Zakaki) Limited is a member of the CNS Group which, amongst others, conducts different businesses including real estate, telecommunications, dairy, large scale farming and export and mining in Cyprus. For more information about the CNS Group, please visit www.cns.com.cy.

Press Contact:
Max Aceituno, Chief Marketing Officer
Passport Technology Inc.
[email protected]

SOURCE Passport Technology Ltd.