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Best of Chris Sieroty

Gaming Guru

Chris Sieroty
 

Global Cash Access posts quarterly profit, signs Scientific Games deal

7 August 2013

LAS VEGAS -- Global Cash Access Holdings Inc., parent company of Global Cash Access Inc., earned $6.67 million, or 10 cents a share, for the second quarter, compared with $6.86 million, or 11 cents a share, for the same period last year, the company said Tuesday.

Las Vegas-based Global Cash Access provides some 1,0000 casino customers with access to cash through a variety of methods, including ATM machines, debt card and credit card transactions, check verification and money transfers.

Revenues were $149.1 million, compared with $147.5 million last year.

Analysts surveyed by Yahoo Finance expected earnings of 20 cents a share on revenue of $147.9 million. Shares of Global Cash Access lost 12 cents, or 1.60 percent, to $7.37 on the New York Stock Exchange.

The company also reaffirmed its estimates for 2013 with earnings per share between 74 cents and 83 cents a share. Global Cash Access confirmed Tuesday it has signed a deal with Scientific Games to provide cash access and wallet services for its U.S. based Internet lottery clients.