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Vol. 7 No. 9, September 2008, Goods & Services
GCA completes Cash Systems acquisition
Global Cash Access, a leading supplier of ATMs and other cash-access equipment and systems to the casino industry, announced that it has finalized the acquisition of former rival Cash Systems, Inc.
The aggregate amount paid to Cash Systems’ stockholders, note holders and warrant holders, together with Cash Systems’ transaction expenses, is approximately $33 million. Cash Systems is now a wholly owned subsidiary of GCA.
“We are very pleased to have closed the acquisition and are excited about the opportunities the acquisition of Cash Systems provides for the continuation of our strategy of having the scale required to compete effectively in the highly competitive electronic payments market,” said GCA President and CEO Scott H. Betts. “We believe that the acquisition of Cash Systems provides us with unique synergies within the gaming market.”
The aggregate amount paid to Cash Systems’ stockholders, note holders and warrant holders, together with Cash Systems’ transaction expenses, is approximately $33 million. Cash Systems is now a wholly owned subsidiary of GCA.
“We are very pleased to have closed the acquisition and are excited about the opportunities the acquisition of Cash Systems provides for the continuation of our strategy of having the scale required to compete effectively in the highly competitive electronic payments market,” said GCA President and CEO Scott H. Betts. “We believe that the acquisition of Cash Systems provides us with unique synergies within the gaming market.”
Staff writers for Global Gaming Business magazine. Las Vegas, Nevada.
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