Ram Chary, CEO of Global Cash Access Holdings, bought 15,000 shares of Global Cash Access Holdings (GCA: Enter 15,000) at $8.07 per share for a total amount of $121,100 thousand on 03-14-2014.
Global Cash Access Holdings is based in Las Vegas, NV.
On 03/25/2014, Global Cash Access Holdings 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.
On 03/11/2014, Global Cash Access Holdings announced its latest quarterly 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 primarily due to higher kiosk sales in the fourth quarter 2013, as compared to the same period last year.
According to Capital IQ, Global Cash Access Holdings has a market cap of $93.89 million, an enterprise value of $101.55 million.
Global Cash Access Holdings, Inc. provides cash access services and related equipment and services to the gaming industry. The company operates in Cash Advance, ATM, Check Services, and Other segments. Its cash access products and services include Casino Cash Plus 3-in-1 ATM, a cash-dispensing machine that offers patrons to access cash through ATM cash withdrawals, point-of-sale debit card transactions, and credit card cash access transactions; check verification and warranty services, which allow gaming establishments to manage and reduce risks on patron checks that they cash; QuikCash, a non-ATM cash access kiosk; and money transfer services. The company also offers cash handling and access equipment, such as Full Service Slot Machine Ticket Redemption Kiosk, a multi-function patron kiosk; and Jackpot Kiosk, a multi-function employee kiosk, which allows casino personnel to immediately process and dispense taxable jackpots in the form of cash, tickets, or a combination of both. In addition, it provides information services, such as Central Credit, a gaming patron credit bureau that allows gaming establishments in credit-granting decisions; QuikCash Plus Web and QCPXpress, which are browser-based cash access transaction processing systems for cashier operations; QuikReports, a browser-based reporting tool that provides access and analysis of information on patron cash access activity; QuikMarketing and Casino Share Intelligence database services; and various Xchange Xplorer products. Further, the company offers everi, an online payment processing solution for gaming operators in states that offer intra-state, Internet-based gaming and lottery activities. Global Cash Access Holdings, Inc. sells its products and services to casinos and other gaming properties in the United States, Europe, Canada, the Caribbean, Central America, and Asia. The company was founded in 1998 and is headquartered in Las Vegas, Nevada.
According to Ram Chary’s biography, Mr. Ram V. Chary is President, Chief Executive Officer, Director of Global Cash Access Holdings, Inc. 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 organization of eFunds Corporation, a payments services company. Prior to eFunds, Mr. Chary worked at IBM Global Services in infrastructure outsourcing and technology consulting.
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