Global Cash Access and Arizona Department of Gaming Enter Into Settlement Agreement

11/19/09

LAS VEGAS--(BUSINESS WIRE)--Nov. 19, 2009-- Global Cash Access Holdings, Inc. (NYSE:GCA), and the Arizona Department of Gaming (the “Department”) have reached a settlement agreement allowing for GCA's state certification to be renewed.

“We are very pleased to announce that after months of negotiations both parties signed an agreement on November 17, 2009 resolving these issues. We are thrilled that all licensing concerns in Arizona are now behind us,” said Scott Betts, President and Chief Executive Officer of Global Cash Access.

As previously disclosed, the Department issued GCA a Notice of Intent to Deny State Certification on June 3, 2009. The Department agreed to renew GCA’s certification based on GCA’s significant ownership and personnel changes, implementation of updated policies and controls, pledge to have no further business relationships with individuals and companies involved in the underpayment of interchange fees, new management’s full cooperation with the Department’s investigation, and payment of a fine.

As part of the settlement, GCA will pay a fine in the amount of $500,000 in addition to $300,000 to support Arizona’s problem gambling programs and $200,000 as reimbursement to the Department for legal fees, investigative costs and related expenses. GCA had previously reserved these amounts during the quarter ended September 30, 2009.

About Global Cash Access Holdings, Inc.

Las Vegas-based Global Cash Access, Inc. (“GCA”), a wholly owned subsidiary of Global Cash Access Holdings, Inc., is a leading provider of cash access products and related services to over 1,100 casinos and other gaming properties in the United States, Europe, Canada, the Caribbean, Central America and Asia. GCA's products and services provide gaming patrons access to cash through a variety of methods, including ATM cash withdrawals, point-of-sale debit card transactions, credit card cash advances, check verification and warranty services, and Western Union money transfers. GCA also provides products and services that improve credit decision-making, automate cashier operations and enhance patron marketing activities for gaming establishments. With its proprietary database of gaming patron credit history and transaction data on millions of gaming patrons worldwide, GCA is recognized for successfully developing and deploying technological innovations that increase client profitability, operational efficiency and customer loyalty. More information is available at GCA's Web site at www.gcainc.com.

 

Source: Global Cash Access Holdings, Inc.

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