Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us


June 30, 2015 9:08 AM ET

Electronic Equipment, Instruments and Components

Company Overview of Global Cash Access, Inc.

Company Overview

Global Cash Access, Inc. provides cash access products and related services for the gaming industry in the United States and internationally. It offers kiosks that include CXC 4.0, a cash access and cash handling solution; CXC 2.0 Lite, a multi-function kiosk; JackpotXchange that automates jackpot payments; Xchange Explorer Plus, a reporting tool; TableXchange, a device that connects table games to a casino’s existing TITO network; and player loyalty and TITO interface, a gaming payment solution. The company also provides Quik Cash Plus (QCP) and QCPXpress platform, which processes PIN debit cash advance, credit card cash advance, check warranty and check verification transactions, and money...

7250 South Tenaya Way

Suite 100

Las Vegas, NV 89113

United States

Founded in 1956

Phone:

702-855-3000

Fax:

866-672-4371

Key Executives for Global Cash Access, Inc.

Chief Executive Officer, President and Director
Age: 43
Chief Financial Officer and Executive Vice President
Age: 51
Executive Vice President of Payments, General Counsel and Corporate Secretary
Age: 51
Executive Vice President of Games
Age: 55
Executive Vice President of Global Sales
Compensation as of Fiscal Year 2014.

Global Cash Access, Inc. Key Developments

Global Cash Access, Inc. Enters into Note Purchase Agreement

On April 15, 2015, Global Cash Access, Inc., a wholly owned subsidiary of Global Cash Access Holdings, Inc. (GCA), entered into a note purchase agreement (the Note Purchase Agreement), among GCA, CPPIB Credit Investments III Inc. (the Purchaser) and Deutsche Bank Trust Company Americas, as collateral agent (the Collateral Agent) and issued $335.0 million in aggregate principal amount of its 7.25% Senior Secured Notes due 2021 (the Secured Notes) in a private offering to the Purchaser. GCA expects to realize annual interest expense savings of approximately $1.7 million from the issuance of the Secured Notes and the redemption, in full, of the Company's outstanding 7.75% Senior Secured Notes due 2021 from the noteholders thereof in accordance with the terms of the indenture governing the 7.75% Senior Secured Notes due 2021. The Secured Notes bear interest at the rate of 7.25% per annum, which accrues from April 15, 2015 and is payable quarterly in arrears on January 15, April 15, July 15 and October 15 of each year, beginning on July 15, 2015. For any interest period, so long as GCA, the Company and the subsidiary guarantors have not failed to create a perfected first priority lien on certain pledged equity before September 1, 2015, the Company may, at its option, elect to pay a portion of interest not to exceed 0.50% per annum by issuing additional certificated Secured Notes in a principal amount equal to the amount of such interest (such additional notes, PIK notes). Any PIK notes will be issued under the Note Purchase Agreement on the same terms and conditions as the Secured Notes issued on April 15, 2015.

Global Cash Access, Inc. Extends and Expands Business Relationship with Las Vegas Sands

Global Cash Access, Inc. announced that it has signed a multi-year agreement with one of its top customers, Las Vegas Sands. The contract extends existing cash access services and expands the business relationship to include the deployment of integrated kiosks across the full gaming floors at the Venetian and Palazzo resorts in Las Vegas, as well as Sands Bethlehem in Pennsylvania. This strategic partnership demonstrates the continued momentum Global Cash Access has achieved in providing a full service, comprehensive value offering to premier operators like Las Vegas Sands.

Global Cash Access, Inc. Announces Private Offering of $350.0 Million of Senior Secured Notes and $350.0 Million of Senior Unsecured Notes

Global Cash Access Holdings, Inc. announced that Global Cash Access, Inc. intends, subject to market and other conditions, to offer $350.0 million of senior secured notes due 2021 and $350.0 million of senior unsecured notes due 2022 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 of Multimedia Games Holding Company, Inc. 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 Movie Escrow, Inc. Upon consummation of the Multimedia Games Acquisition, the notes will be assumed by the company and guaranteed on a senior basis by GCA and certain of its subsidiaries. The secured notes will be secured by liens on the same collateral that secures indebtedness under the revolving credit facility and the term loan. The notes will not be registered under the Securities Act of 1933 or any state securities laws and, unless so registered, may not be offered or sold in the United States except pursuant to an applicable exemption from the registration requirements of the Securities Act and applicable state securities laws. The Notes will be offered only to qualified institutional buyers in accordance with Rule 144A and to non-U.S. Persons under Regulation S under the Securities Act.

Similar Private Companies By Industry

Company Name Region
Technical Services Inc. United States
Lytech Solutions, Inc. United States
Mitsubishi Electric Visual Solutions America, Inc. United States
Hubbell Cable Accessories United States
Conway Technology Associates United States

Recent Private Companies Transactions

Type
Date
Target
No transactions available in the past 12 months.
 

Stock Quotes

Market data is delayed at least 15 minutes.

Company Lookup

Most Searched Private Companies

Company Name Geographic Region
Lawyers Committee for Civil Rights Under Law United States
NYC2012, Inc. United States
Bertelsmann AG Europe
Rush University United States
Citizens Budget Commission United States

Sponsored Financial Commentaries

Sponsored Links

Report Data Issue

To contact Global Cash Access, Inc., please visit www.globalcashaccess.com. Company data is provided by Capital IQ. Please use this form to report any data issues.

Please enter your information in the following field(s):
Update Needed*

All data changes require verification from public sources. Please include the correct value or values and a source where we can verify.

Your requested update has been submitted

Our data partners will research the update request and update the information on this page if necessary. Research and follow-up could take several weeks. If you have questions, you can contact them at bwwebmaster@businessweek.com.