US investment giant Blackstone has committed AED 918m to Advanced Digital Gaming Technology (ADGT), a UAE-headquartered payments and data-intelligence company – marking its first regional investment since the onset of the Iran conflict.
ADGT is a joint venture involving Blackstone, Abu Dhabi-based Raya Holding, and gaming payments specialists NRT Technology and Sightline Payments, with an estimated valuation of approximately AED 3.6 billion. The company holds the only licence in the UAE authorised to operate across both land-based venues and online platforms.
Operating from Abu Dhabi, ADGT plans to expand across the UAE before targeting the Middle East, Africa and select international markets. Blackstone described the UAE as a global leader in travel and leisure with emerging technology strengths, signalling continued foreign investor confidence despite near-term regional headwinds and infrastructure pressures linked to the ongoing conflict.
Gulf Economist Staff Writer