Casino ATM firm expected to go public

Casino ATM firm expected to go public
Tags: Bank / Credit Union, Distributors / ISO / IAD, Kiosks/Self-Service, Multifunction ATMs, Public Companies, Retail / Off-Premises
September 18, 2005

Reuters: Global Cash Access Holdings Inc. will find out this week if investors are ready to bet on the largest operator of ATMs for casinos in the United States. Its proposed public offering of 9 million shares of common stock worth up to $471.5 million has been well-received on Wall Street, analysts said. Global Cash Access' IPO will allow the company's private equity backers, Summit Partners and Tudor Ventures, to cash out of a $316 million equity investment in the company they bought from First Data Corp. in May 2004.