Casino Cash Trac, a producer of business-to-business (B2B) software for casino operators, announced today that it received a minority investment from the private equity firm Serent Capital.
The statement emphasizing the deal did not disclose the investment amount or Serent’s ownership stake in Casino Cash Trac. Established in 2012, Casino Cash Trac, located in Oklahoma, is a privately owned company.
"Serent Capital’s minority investment will equip CCT with its dedicated Growth Team, providing hands-on expertise to accelerate go-to-market execution, optimize product strategies, and enhance customer engagement,” according to the statement. “With a strong track record in scaling enterprise software companies, Serent has the capability to help CCT expand its market presence, drive product innovation, and unlock new growth opportunities.”
Serent, located in Texas, typically targets founder-led businesses within the software-as-a-service (SaaS) sector. The company, which also maintains an office in San Francisco, is usually one of the first or among the earliest investors in its chosen firms.
What Casino Cash Trac Offers
Software plays a crucial role in various gaming-related activities, and there are several specialized companies in this sector that are publicly listed, although these firms primarily promote their solutions to sportsbooks and online casino operators.
At first glance, the offerings of Casino Cash Trac may seem much less appealing, yet the items are just as vital. Gaming clients depend on the company's Casino Insight platform to monitor cash transactions on the casino floor — an essential service as numerous customers exchange cash for chips or insert cash into machines. Fundamentally, Casino Insight serves as an audit and compliance instrument enabling clients to protect themselves from fraud while achieving certain operational efficiencies.
The Insight Cage Vault (ICV) from the company simplifies cage operations while automating a crucial task at every casino: monitoring financial transactions.
“ICV is the only proven & tested solution that allows you to go paperless, eliminate spreadsheets, and automate your cage and vault operations. Variances are tracked in real time removing manual errors,” according to CCT.
The firm serves 300 casino clients across North America and, although it does not disclose their names, it highlights that this group comprises operators with as few as a few gaming devices to as many as 8,000 machines. According to PitchBook data, CCT employs 74 staff members.
Favorable Indicators from Casino Cash Trac, Serent Agreement
The Casino Cash Trac/Serent agreement demonstrates that private equity continues to have an interest in the gaming sector and that these investors are ready to explore less obvious targets to discover value.
Although the agreement may not qualify as a “megadeal,” it still reflects private equity and venture capital's readiness to invest in SaaS providers — a trend evident in the final phases of 2024.
“Q4 2024 capped off a string of quarterly gains in deal value for infrastructure SaaS since Q3 2023, but there’s more than meets the eye for the sector,” observes PitchBook. “Aside from Databricks’ record $10 billion fundraise in Q4, the underlying snapshot is more mixed. PitchBook’s latest Emerging Tech Research goes beyond the megadeals, highlighting a shift in the infrastructure SaaS segments that are attracting the most investor excitement. “