NV Licensee Profile: Global Cash Access Holdings

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This is one of a series of profiles covering companies that hold a license to participate in Nevada’s online gambling market.

Global Cash Access Holdings (GCA for short) is a company that provides products and services to the gaming industry designed to make cash available and financial transactions as easy and safe as possible.

Details and Timeline of Global Cash Access’ Nevada License

  • In March of 2012 GCA applied for an online service provider license in Nevada. GCA sought a Class 2 Service Provider license which allows them to handle specific services for online operators not covered under a Class 1 license. Generally speaking, Class 1 Service provider Licenses are for companies that will be supplying or maintaining online poker software, while Class 2 licensees provide services such as payment processing, verification checks, and so on.
  • On August 8, 2012, Global Cash Access Holdings –along with South Point and Monarch Casinos—received approval from the Nevada Gaming Control Board, and just a few weeks later received approval from the Nevada Gaming Commission and became an officially licensed Service Provider for the Nevada online poker industry.

Partnerships and Role in the Las Vegas market

Global Cash Access Holdings role in the Nevada online poker market would be to facilitate payment processing between the online poker providers (in-house and online) as well as from the players.

The company would also be called upon to run player verification and background checks, and even though extending credit to online players is prohibited, there may be a place for GCA to run credit checks for casino guests, who could then use that line of credit procured from a physical casino to deposit online.

Company Overview

GCA uses a wide variety of products including automated teller machines that allow casinos and their patrons to make cash withdrawals, point-of-sale debit card transactions, and credit card cash advances.

The company’s services also include access to a gaming patron credit bureau, allowing casinos to make credit-risk assessments on the spot when they are deciding to provide a line of credit to a player, a service the casino industry and especially the online gaming industry will take full advantage of. GCA also owns and markets multi-function patron kiosks and cashless gaming devices, according to wikiwealth.com.

In laymen’s terms, GCA provides the casino industry with credit checks and products designed to make cash transactions (which casinos are known to do quite a few of each day) safe, secure, and simple, for the players and for the casino. Think of GCA as the ATM provider on steroids, capable of handling a number of different transactions in seconds, as well as running credit checks on the spot.

While not a big named in the industry (GCA is what I would describe as a behind the scenes player)The company currently has some 400 employees in their customer service and support departments alone, counts some 1,100 companies among their clients, and processed 90,000,000 transactions, totaling $19 billion in 2011 alone. GCA is licensed in over 350 jurisdictions and has been in the industry for well over a decade.

In the Nevada market many operators will also run Brick & Mortar casinos, so not only could GCA supply online methods for cash and other transactions, but most if not all operators will also allow players to fund their online accounts at their brick & mortar casino at kiosks or at the cashier’s cage, and GCA will likely be an integral part of facilitating these transactions.

GCA Power Players

  • President and CEO of GCA: David Lopez – GCA’s President, David Lopez ascended to that position in June of 2012 and in January of 2013 added the title of CEO to his resume. A former executive at Shuffle Master (where he served as Shuffle Master’s COO before moving on to GCA) Lopez has 14-years of experience working at Shuffle Master in a number of roles including interim CEO. Before joining Shuffle Master, Lopez held positions with Stratosphere Tower and Casino and the MGM Grand Hotel.

  • CFO and EVP: Mary E. Higgins – Mary E. Higgins was added to the GCA executive team as the Chief Financial Officer(CFO) and EVP of Global Cash Access in September 2010. Prior to this she served in the same role with Herbst Gaming, Inc. a casino gaming and slot route company where she put in 10 years of service. Here first CFO job came in 1997 with Camco, Inc. a specialty retailer, Higgins stayed at Camco until 2000 when she took the job at Herbst. .

Global Cash Access: Potential in other US markets

With the capability to provide financial transactions and verification checks, there is a very good chance that Global Cash Access Holdings will be a player in other US markets outside of Nevada.

External Links

*Resources: http://www.wikiwealth.com/profile:gca, www.gcainc.com

 

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Steve Ruddock
- Steve covers nearly every angle of online poker in his job as a full-time freelance poker writer. His primary focus for OPR is the developing legal and legislative picture for regulated US online poker and gambling.