Blackstone Inc. has committed $250 million to an Abu Dhabi–based payments technology platform, reflecting confidence in the region despite ongoing geopolitical tensions linked to the Iran conflict.
The investment, managed by the alternative asset manager, targets Advanced Digital Gaming Technology (ADGT), a payments and compliance solutions provider serving the commercial gaming sector.
ADGT was established through a partnership between Blackstone, Abu Dhabi’s Raya Holding, NRT Technology, and Sightline Payments.
ADGT is the only licensed platform that can directly engage with both land-based venues and online operators, offering a seamless payments experience for consumers and businesses, according to a Thursday statement.
Jon Gray, President and Chief Operating Officer of Blackstone, commented: “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.”
Since 2010, Blackstone—with $1.3 trillion in assets under management—has maintained a presence in the UAE.
Its local portfolio includes GLIDE, a GCC-wide logistics platform developed with Lunate, and Property Finder, the UAE’s leading real estate marketplace.
