Pine Tree Equity Invests in House Advantage
Pine Tree Equity III, LP (“Pine Tree Equity”), a private equity firm based in Miami, FL, is pleased to announce that it has made a minority investment in House Advantage (“House Advantage” or the “Company”) in August 2015. Headquartered in Las Vegas, NV and founded in 2004, the Company provides loyalty management software solutions for the casino and gaming industry. For additional information, please visit www.houseadv.com.
According to the latest numbers from the American Gaming Association, there were over 900 casino properties in the United States as of 2012, with over 1,000 properties operating today. Moreover, the casino management systems market is forecast to grow at a compounded annual growth rate of 15.0% between 2013 and 2018, reaching a total market size of over $4.0 billion. Within the loyalty management segment of this market, House Advantage has developed the only software solution capable of working across different platforms and systems, whether they are running gaming or non-gaming operations (i.e., entertainment, food, lodging and retail), allowing multi property casino operators to operate a single loyalty program for all of their customers across all of their properties.
Pine Tree Equity made a minority investment in partnership with the founder that remains in legal and operating control of the business. The capital will allow the Company to continue its exceptionally strong history of growth within the loyalty management software solutions market and to ensure satisfaction of existing customers with both expanded customer service and engineering resources. House Advantage marks Pine Tree Equity’s 1st investment in the software-as-a-service industry and 30th investment in the service industry since Pine Tree Equity’s inception in 2007.