Global Cash Access Announces Repurchase of Shares of Common Stock and Notice of Redemption of Shares of Common Stock

LAS VEGAS, Jun 24, 2009 (BUSINESS WIRE) -- Global Cash Access Holdings, Inc. (NYSE:GCA) today announced that it has repurchased 5,785,602 shares of its common stock from one of its founders, Robert Cucinotta, at a per share price of $6.25 and an aggregate price of $36,160,012.50. The repurchase was a private transaction and was funded with existing cash resources. The repurchase was separately approved by the Board of Directors subsequent to the previously-announced authorization to repurchase up to $25 million shares of common stock.

The Company today also announced that it is sending written notice to one of its founders, Karim Maskatiya, of the Company's redemption of 6,652,475 shares of its common stock from Mr. Maskatiya pursuant to the provisions of the Company's certificate of incorporation that provide the Company with the right to redeem shares of its common stock that are owned by stockholders that are found to be unsuitable stockholders for gaming regulatory purposes.

The redemption will be completed on or about September 22, 2009 at a price per share equal to the average closing price of the Company's stock on the New York Stock Exchange during the thirty trading days prior to the date of notice. The average closing price of the Company's stock on the New York Stock Exchange during the thirty trading days prior to today is approximately $6.98. The redemption price will be paid by an unsecured promissory note having a term of five years and bearing interest, compounded annually, at the prime rate of interest as published in the Wall Street Journal on the date of redemption.

The redemption notice was sent in an attempt to avoid the Company's loss of its regulatory approval to provide its products and services at Native American gaming establishments within Arizona.

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 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

SOURCE: Global Cash Access Holdings, Inc.

Global Cash Access, Inc.
George Gresham, 702-855-3005

© 2014 Global Cash Access,Inc. All rights reserved.