Listening Parties
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Listening Parties
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Re: Listening Parties
LAS VEGAS--(BUSINESS WIRE)
Kirk Sanford GCA
best poker
World's leading supplier of cash access and customer relationship marketing technologies to the gaming industry positioned for long-term
success
Global Cash Access, LLC (GCA), the leading supplier of cash access, transaction processing and customer relationship marketing services to the gaming industry, today announced the recapitalization of its holding company's ownership in a private equity transaction involving a $316 million investment led by Summit Partners, a leading private equity and venture capital firm. Tudor Ventures and its affiliates co-invested with Summit Partners in this transaction, along with smaller investments by other private equity investors. The transaction was structured as a sale by M&C International of a portion of its ownership interests in the holding company that owns all of GCA.
GCA provides cash access products and services to approximately 960 gaming establishments in the United States, Canada, Caribbean, and United Kingdom. GCA's products and services allow gaming patrons to access funds through a variety of methods, including credit card cash advances, point-of-sale (POS) debit card transactions, ATM withdrawals, check cashing transactions and money transfers. GCA also owns Central Credit, which is recognized in the gaming industry as the premier resource for underwriting patron credit decisions, or markers.
The investment comes at a time of rapid growth for the eight-year-old firm. GCA has grown to more than $400 million in revenue since its inception in 1996, and today the company is recognized as the leader in its industry. GCA has contracts with most of the top gaming operators in the United States and United Kingdom, including well-recognized names such as Harrah's Entertainment, Caesars Entertainment, Mandalay Resort Group, Foxwoods Resort and Casino, and Mohegan Sun.
Prior to March 2004, GCA operated as a majority-owned subsidiary of First Data Corporation (NYSE: FDC), with M&C International as the minority owner. In March 2004, GCA redeemed FDC's ownership interest in a leveraged recapitalization that resulted in M&C International owning substantially all of the holding company that owns GCA.
"The key drivers to GCA's success are delivering gaming specific technology solutions, unsurpassed reliability, and phenomenal customer service that equate to increased gaming revenue, operational efficiency, and a better patron experience for our valued casino partners," said Kirk Sanford, president and CEO of GCA. "We are excited about this partnership, and believe that the expertise that Summit Partners' Walter Kortschak and C.J. Fitzgerald bring at this pivotal point in our growth will help us profitably expand the business. We look forward to their guidance and contributions as we continue to grow worldwide."
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Registration date : 2011-01-07
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