12/19/14
Transaction Positions Symbiotic Cash Access and Slot Gaming Solutions to Leverage Comprehensive Value Offerings for Casino Operators Global Cash Access, Inc. , a wholly-owned subsidiary of Global Cash Access, Holdings, Inc. (NYSE:GCA) ("GCA" or the "Company") announced today that it completed the acquisition of Multimedia Games Holding Company, Inc. ("Multimedia Games"). This transformational combination creates a uniquely diverse organization that will leverage cash access and compliance solutions with leading slot gaming experiences to enhance the full enterprise value proposition to casino operators. "Today marks a great milestone as two organizations, with differentiated product and service offerings, unite to create a full-service solution for casino operators to optimize cash-to-the-floor solutions with player-proven slot gaming products that focus on retaining and acquiring new casino players," said Ram V. Chary, Chief Executive Officer and President of GCA. "Much has been...
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12/05/14
Global Cash Access Holdings, Inc. (NYSE:GCA) ("GCA") announced today that its wholly owned subsidiary, Global Cash Access, Inc. (the "Company"), intends, subject to market and other conditions, to offer $350.0 million of senior secured notes due 2021 (the "Secured Notes") and $350.0 million of senior unsecured notes due 2022 (the "Unsecured Notes," and together with the Secured Notes, the "Notes") in a private offering. GCA intends to use the net proceeds of the Notes offering, together with borrowings under a new $60.0 million, five-year senior secured revolving credit facility and a $500.0 million, six-year senior secured term loan, and cash on hand to finance its acquisition (the "Multimedia Games Acquisition") of Multimedia Games Holding Company, Inc. (Nasdaq:MGAM) ("Multimedia Games"), including the repayment of certain indebtedness of GCA and Multimedia Games and to pay related fees and expenses. The Notes are initially expected to be issued by the Company's subsidiary, Movie...
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11/04/14
Global Cash Access Holdings, Inc. (the "Company") (NYSE:GCA) announced today financial results for the third quarter ended September 30, 2014 . Third quarter Highlights Total revenues increased by 8%, excluding the $11.3 million revenue loss attributable to the Caesars Entertainment ("CET") contract Total revenues, including the loss of the CET contract, decreased by less than 1% Diluted earnings per share (EPS) remained unchanged at $0.09 for both the third quarter 2014 and 2013 Cash EPS, as defined below, increased 21% to $0.23 for the quarter On September 8, 2014 , the Company entered into a merger agreement to acquire all the outstanding stock of Multimedia Games Holding Company, Inc. ("MGAM") for $36.50 per share, for an aggregate purchase price of approximately $1.2 billion in cash "Our recent, major client commitments continue to demonstrate the success of our integrated solutions in the market. We look forward to carrying this momentum into our pending acquisition of...
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10/21/14
Global Cash Access Holdings, Inc. (NYSE:GCA), announced today that it will host a conference call and webcast on Tuesday, November 4, 2014 at 5:00 p.m. Eastern Time ("ET") to review its third quarter 2014 financial results. A press release with these results will be issued shortly after the market closes on November 4, 2014 . The conference call may be accessed live over the phone by dialing (800) 289-0508 or for international callers by dialing (913) 312-0396. A replay will be available at 8:00 p.m. ET and may be accessed by dialing (877) 870-5176 or (858) 384-5517 for international callers; the pin number is 6907012. The replay will be available until November 11, 2014. The call will be webcast live from the Company's website at www.gcainc.com under the Investor Relations section. About Global Cash Access Holdings, Inc. GCA is a leading provider of fully integrated cash access solutions and related services to the gaming industry. GCA's products and services provide: (a) gaming...
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09/23/14
Global Cash Access, Inc. , a wholly-owned subsidiary of Global Cash Access, Holdings, Inc. (NYSE:GCA) and a global provider of cash-to-floor solutions and business intelligence services for gaming establishments, today announced that it has signed a long-term, five year contract renewal with one of its top customers, Foxwoods Resort Casino , and will begin to deploy its kiosks at Foxwoods as part of its cash-to-floor solutions. "We are delighted to continue and expand our relationship with one of our premier customers, and are very pleased to have the opportunity to demonstrate to Foxwoods the value and benefits of our unique cash-to-floor solutions," remarked Debra Lee Massing, SVP of Sales at GCA. GCA's integrated kiosk platform is a full-service solution for ticket redemption, bill breaking and cash access services. Using GCA's patented ATM 3-in-1 rollover technology, GCA's integrated kiosk platform delivers superior feature functionality and ease in delivering increased cash to...
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09/08/14
Global Cash Access Holdings, Inc. (NYSE:GCA) and Multimedia Games Holding Company, Inc. ("Multimedia Games") (Nasdaq:MGAM) announced today that they have entered into a merger agreement whereby GCA has agreed to acquire all the outstanding common stock of Multimedia Games for $36.50 per share, for an aggregate purchase price of approximately $1.2 billion in cash. The transaction has been unanimously approved by the boards of directors of the two companies. "The acquisition of Multimedia Games represents a gaming-relevant transformational opportunity to combine two companies with rich gaming heritages and uniquely positions GCA as an important strategic partner to gaming operators by offering them deeper and more integrated solutions across their entire gaming floor," remarked Ram V. Chary, President and Chief Executive Officer of GCA. "This acquisition further strengthens and broadens GCA's portfolio of solutions, which has been embraced by our customer base," added Mr. Chary. Patrick...
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08/05/14
Global Cash Access Holdings, Inc. (the "Company") (NYSE:GCA) announced today financial results for the second quarter ended June 30, 2014 . Second Quarter Highlights Total revenues increased by 5.3%, excluding the $11.3 million revenue loss attributable to the Caesars Entertainment ("CET") contract Total revenues, including the loss of the CET contract, decreased by 3% GCA completed the NEWave acquisition in April 2014 "We continue to execute upon our strategy of offering integrated solutions to our clients to position us well for the second half of the year," said Ram V. Chary, President and Chief Executive Officer. Second Quarter 2014 Results Revenues decreased by $4.1 million , or 3%, to $144.9 million for the second quarter 2014, as compared to the same period last year. Operating income decreased by $4.0 million , or 29%, to $9.6 million for the second quarter 2014, as compared to the same period last year. Adjusted earnings before interest, taxes, depreciation and amortization...
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08/01/14
Global Cash Access, Inc. ("GCA"), a wholly-owned subsidiary of Global Cash Access, Holdings, Inc. (NYSE:GCA) and a global provider of integrated, cash-to-floor and compliance solutions for gaming establishments, today announced that it has been awarded a comprehensive, five year contract with one of its top customers, Station Casinos , and will begin to provide its full suite of cash-to-floor and compliance solutions across all Station properties, including Green Valley Ranch Resort , Red Rock Resort and Wildfire properties. "We are delighted to expand our relationship with one of our top customers and to showcase the benefits that our fully integrated suite of cash-to-floor and compliance solutions can provide to premier gaming operators like Station Casinos," remarked David Lucchese, EVP, Client Operations at GCA. GCA's integrated kiosk platform delivers superior feature functionality and ease in delivering increased cash to the casino floor and profitability to GCA's customers;...
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07/22/14
Global Cash Access Holdings, Inc. (NYSE:GCA), announced today that it will host a conference call and webcast on Tuesday, August 5, 2014 at 5:00 p.m. Eastern Time ("ET") to review its second quarter 2014 financial results. A press release with the second quarter 2014 results will be issued shortly after the market closes on August 5, 2014 . The conference call may be accessed live over the phone by dialing (888) 599-8693 or for international callers by dialing (913) 312-1450. A replay will be available at 8:00 p.m. ET and may be accessed by dialing (877) 870-5176 or (858) 384-5517 for international callers; the pin number is 2537835. The replay will be available until August 12, 2014. The call will be webcast live from the Company's website at www.gcainc.com under the Investor Relations section. 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 fully...
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05/12/14
Global Cash Access, Inc. ("GCA"), a wholly-owned subsidiary of Global Cash Access Holdings, Inc. (the Company) (NYSE:GCA), a global provider of fully integrated cash access, cash handling and business intelligence solutions for gaming establishments, today announced an extension of its multi-year contract with Native American Cash Systems of Florida, Inc. (NACSF) to provide its suite of cash access solutions on its behalf to the Seminole Tribe of Florida ("Seminole") utilizing GCA's CXC 4.0 kiosks. Through direct relationships with the NACSF and the Seminole Tribe of Florida , GCA's integrated cash-to-floor solutions will continue to be deployed at all Seminole casinos in the State of Florida . "NACSF is one of GCA's premier long-term partners and GCA is honored to have been selected to continue providing our suite of integrated solutions to NACSF and the Seminole casinos," said Scott Dowty, Executive Vice President Sales and Chief Marketing Officer, GCA. "As GCA enhances and expands...
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05/06/14
Global Cash Access Holdings, Inc. (the "Company") (NYSE:GCA) announced today financial results for the first quarter ended March 31, 2014 . First Quarter 2014 Highlights Revenues increased by 3% and Cash Advance revenues increased by 6% Diluted EPS increased by 22% to $0.11 Cash EPS increased by 16% to $0.22 and Adjusted EBITDA increased by 8% to $19.4 million 2014 Outlook updated - Cash EPS $0.87 to $0.91 and Adjusted EBITDA $76 million to $79 million GCA renewed its agreements to provide cash access services to The Seminole Tribe of Florida GCA renewed its agreements to provide cash access services to Pinnacle Entertainment , including the Ameristar locations "The underlying foundation of our business continues to improve and position us well for growth. The full-year outlook reflects the differentiated competitive advantage that our integrated solutions drive for our clients," said Ram V. Chary, President and CEO of GCA. First Quarter 2014 Results Revenues increased by $3.7 million...
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04/22/14
Global Cash Access Holdings, Inc. (NYSE:GCA), today announced that it will host a conference call and webcast on Tuesday, May 6, 2014 at 5:00 p.m. ET to review its first quarter 2014 financial results. A press release with first quarter 2014 results will be issued shortly after the market closes on May 6, 2014 . The conference call can be accessed live over the phone by dialing (877) 941-8416 or for international callers by dialing (480) 629-9808. A replay will be available at 8:00 p.m. ET and can be accessed by dialing (877) 870-5176 or (858) 384-5517 for international callers; the pin number is 4680672. The replay will be available until May 13, 2014. The call will be webcast live from the Company's website at www.gcainc.com under the Investor Relations section. 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 services and related equipment...
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03/25/14
Global Cash Access Holdings, Inc. ("GCA" or the "Company") (NYSE:GCA), a global provider of innovative cash access solutions, cash handling devices and related services and business intelligence for gaming establishments, today announced that GCA and Caesars Entertainment Operating Company, Inc. ("Caesars") have elected not to renew the automated teller machine (ATM) services, point-of-sale debit services and credit card cash access services and ticket redemption device service agreements between the parties and certain of their subsidiaries, which agreements were due to expire on March 31, 2014 . GCA has agreed to continue to provide its services to Caesars for a transition period to facilitate the transfer of services to an alternate provider. GCA elected not to renew its agreements with Caesars because it was not willing to accept the business and financial terms proposed by Caesars regarding the renewal of these agreements. The Company intends to continue to focus its personnel...
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03/21/14
Editor Note: For more information about this release, please scroll to bottom On Thursday, March 20, 2014, the US markets saw a positive sentiment with the NASDAQ Composite closing at 4,319.29, up 0.27%, the Dow Jones Industrial Average ending the session at 16,331.05, up 0.67% and the S&P 500 edging 0.60% higher to finish the trading session at 1,872.01. During the session, gains in the Information Technology, Financials, and Telecommunication Services sectors positively impacted the broader market. A number of stocks saw large movements, including Infinera Corp. (NASDAQ: INFN), Gran Tierra Energy Inc. (AMEX: GTE), Global Cash Access Holdings Inc. (NYSE: GCA) and Burlington Stores Inc. (NYSE: BURL). Free technical research on INFN, GTE, GCA and BURL can be downloaded upon signing up at: http://www.investor-edge.com/391-register Infinera Corp.'s stock finished Thursday's session at $9.67, recording a gain of 3.20%. A total of 2.26 million shares traded which is above the three...
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03/11/14
Global Cash Access Holdings, Inc. (the "Company") (NYSE:GCA) announced today financial results for the fourth quarter and year ended December 31, 2013 . Fourth Quarter 2013 Highlights Revenues increased 3% to $140.5 million Operating income increased 15% to $11.2 million Diluted EPS increased 33% to $0.08 Adjusted EBITDA increased 4% to $17.1 million Cash EPS increased 12% to $0.19 Fourth Quarter 2013 Results Revenues increased by $4.4 million, or 3%, to $140.5 million for the fourth quarter 2013, as compared to the same period last year. Operating income increased by $1.5 million, or 15%, to $11.2 million for the fourth quarter 2013, as compared to the same period last year. Adjusted earnings before interest, taxes, depreciation and amortization and non-cash compensation expense ("Adjusted EBITDA") (see Non-GAAP Financial Information below) increased by $0.7 million, or 4%, to $17.1 million for the fourth quarter 2013, as compared to the same period last year. These increases were...
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03/07/14
Company Announces Additional Executive Leadership Appointments Global Cash Access Holdings, Inc. ("GCA" or the "Company") (NYSE:GCA), a global provider of innovative cash access solutions, cash handling devices and related services and business intelligence for gaming establishments, today announced that Randy L. Taylor has been promoted to Chief Financial Officer effective immediately. Mr. Taylor has been with GCA since 2011 serving as the Senior Vice President and Controller. Prior to joining GCA, Mr. Taylor served in various positions for Citadel Broadcasting Corporation, a radio broadcasting company, including chief financial officer from 2008 to 2011. Mr. Taylor succeeded Mary E. Higgins, who resigned to pursue other professional interests. Ms. Higgins departure is not related to any disagreements with the Company's Board of Directors, Audit Committee or auditors. The Company also announced the following executive leadership appointments, effective immediately: David Johnson has...
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02/25/14
Global Cash Access Holdings, Inc. (NYSE:GCA), today announced that it will host a conference call and webcast on Tuesday, March 11, 2014 at 5:00 p.m. ET to review its fourth quarter and full year 2013 financial results. A press release with fourth quarter and full year 2013 results will be issued shortly after the market closes on March 11, 2014 . The conference call can be accessed live over the phone by dialing (877) 941-2068 or for international callers by dialing (480) 629-9712. A replay will be available at 8:00 p.m. ET and can be accessed by dialing (877) 870-5176 or (858) 384-5517 for international callers; the pin number is 4671370. The replay will be available until March 18, 2014. The call will be webcast live from the Company's website at www.gcainc.com under the Investor Relations section. 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...
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01/27/14
Global Cash Access Holdings, Inc. (the "Company") (NYSE:GCA), a global provider of innovative cash access, cash handling solutions and business intelligence services for gaming establishments, today announced Ram Chary has been appointed as the Chief Executive Officer of the Company and as a Class III director to the Board of Directors of the Company. David Lopez resigned from his role as President and Chief Executive Officer of the Company and as a member of the Board of Directors of the Company, effective as of January 27, 2014 , to pursue a new career opportunity. From 2007 to 2013, Mr. Chary served in various roles at Fidelity National Information Services, Inc., most recently as an Executive Vice President of Global Commercial Services. Mr. Chary previously led the technology division of Fidelity National Information Services, Inc., a banking and payments technology company. Prior to joining Fidelity National Information Services Inc., Mr. Chary led the Professional Services...
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