Global Cash Access, Inc., a provider of cash-access equipment in the casino industry, has signed an agreement to acquire Certegy Gaming Services, Inc., formerly known as Game Financial, from Fidelity National Transaction Services, Inc.
GCA provides nearly 1,000 gaming properties worldwide with cash-access equipment and services. Certegy has been a strong competitor to GCA in the cash-access business, achieving success in check cashing, credit and debit cash advance, and ATM services.
At the closing of the acquisition, GCA will acquire all of Certegy’s issued shares of stock for a purchase price of $25 million, and CGS will become a wholly owned GCA subsidiary. In addition, GCA will replace cash currently held in CGS’ ATM machines and cages located at its customer premises. GCA will gain approximately 100 new employees as a result of the acquisition, most of whom will be continuing their employment in CGS in-casino booth operations.
The closing is scheduled for the end of March.
