Benzinga | Jun 21, 2021 12:53PM EDT

Shift4 Payments Gains On Payment Provider Agreement With BetMGM

* Payment processing solutions provider Shift4 Payments Inc (NYSE:FOUR) has announced that it will be the preferred payments provider for BetMGM, a leading online gaming and sports betting platform owned by MGM Resorts International (NYSE:MGM) and Entain Plc (OTC:GMVHF).

* Shift4 will power online gaming and sports betting transactions through BetMGM's website and mobile application, using the end-to-end processing technology.

* Shift4's payment platform features Payment Card Industry (PCI)-validated point-to-point encryption and advanced tokenization technology.

* "Shift4 already processes payments for half the casinos on the Las Vegas strip and across the country, and this partnership with BetMGM will enable us to leverage that expertise as we move aggressively into online gaming and sports betting markets," said Jared Isaacman, Chief Executive Officer.

* Price action: FOUR shares are trading higher by 2.20% at $100.65 on the last check Monday.