GCA Announces Retirement of Scott Betts and Appointment of David Lopez as
Chief Executive Officer Effective January 1, 2013
LAS VEGAS -- November 07, 2012
Global Cash Access Holdings, Inc. (NYSE: GCA), a global provider of innovative
cash access, cash handling solutions and business intelligence services for
gaming establishments, today announced that on November 6, 2012, Scott Betts,
Chief Executive Officer of the Company, advised the Board of Directors of the
Company of his intention to retire as Chief Executive Officer of the Company
effective December 31, 2012. Mr. Betts will remain an employee of the Company
in a strategic planning role through March 2013. Mr. Betts will continue to
serve as a Board member of the Company following his retirement as Chief
Executive Officer of the Company. David Lopez, President of the Company, will
assume the role of Chief Executive Officer upon Mr. Betts’ retirement.
“I am so proud of the job the organization has done to bring GCA from where we
started five years ago to where we are today. We are a better, stronger,
smarter company and it shows in our results,” said Scott Betts, CEO of Global
Cash Access. “I look forward to working with David as he continues to move the
“The Board would like to thank Scott for his many years of service to GCA and
for his leadership in guiding the Company through an extremely challenging
economic and regulatory environment,” said E. Miles Kilburn, Chairman of the
Board of the Company. “The Board would also like to congratulate David Lopez,
who has demonstrated his leadership ability during his time as President. We
believe that this will be a seamless transition that will allow GCA to
continue to build upon the positive results that the Company has achieved so
far in 2012.”
“During my time at GCA I have been very impressed with the caliber of the team
and the opportunities for the company going forward,” said David Lopez,
President of Global Cash Access. “I believe it is an exciting time for GCA and
I look forward to working with the team to deliver innovative products to our
customers and value to our shareholders.”
Mr. Lopez has been President of GCA since June 1, 2012. He has extensive
background in the gaming industry, joining GCA from his previous position of
Chief Operating Officer for Shuffle Master, Inc. Mr. Lopez spent the past 14
years with Shuffle Master, holding various positions within the organization,
as well as serving as a member of its Board of Directors.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within the "safe
harbor" provisions of the Private Securities Litigation Reform Act of 1995.
All statements included in this press release, other than statements that are
purely historical, are forward-looking statements. Words such as "going
forward," "believes," "intends," "expects," "forecasts," "anticipate," "plan,"
"seek," "estimate" and similar expressions also identify forward-looking
statements. Forward-looking statements in this press release include, without
limitation our belief that the upcoming succession of our Chief Executive
Officer will be seamless.
These forward-looking statements are subject to risks and uncertainties that
could cause actual results to differ materially from those projected or
assumed. If any of these assumptions prove to be incorrect, the results
contemplated by the forward-looking statements regarding our future results of
operations are unlikely to be realized.
The forward-looking statements in this press release are subject to additional
risks and uncertainties set forth under the heading "Risk Factors" and
"Management's Discussion and Analysis of Financial Condition and Results of
Operations" in our filings with the Securities and Exchange Commission,
including, without limitation, our Annual Report filed on Form 10-K on March
12, 2012, and are based on information available to us on the date hereof. We
do not intend, and assume no obligation, to update any forward-looking
statements. Readers are cautioned not to place undue reliance on
forward-looking statements, which speak only as of the date of this press
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 1,000 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 transactions, check
verification and warranty services, and Western Union money transfers. Through
Western Money Systems, a wholly owned subsidiary, GCA is a leading
manufacturer and distributor of cash handling devices and related software.
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 website at www.gcainc.com.
Don Duffy, 203-682-8215
Liz Brady, 646-277-1226
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