News

Cash Systems provides ATMs, other services to more casinos

January 9, 2003

MINNEAPOLIS, Minn. -- Cash Systems, Inc. (OTC Bulletin Board: CSHS), an ATM deployer and provider of cash access solutions for the gaming industry, says that it has entered into agreements to provide services at 15 additional casinos, including three for full service check cashing.

With the addition of these properties, Cash Systems provides services at more than 90 gaming locations, according to a news release.

The new casino locations include: Augustine Casino in Coachella, Calif.; Cannery Casino and Steiner's, both in Las Vegas; Jackson Rancheria Casino & Hotel in Jackson, Calif.; J.P. McGill's Casino, Midnight Rose Casino and The Brass Ass Casino, all in Cripple Creek, Colo.; Seven Clans Casino in Red Lake, Minn.; Seven Clans Casino in Warroad, Minn.; and Seven Clans Hotel & Casino in Thief River Falls, Minn.

In November of 2002, Cash Systems posted third-quarter net income of $169,328 on revenues of $4.3 million, its strongest quarter ever. (See related story Cash Systems posts record Q3 revenues, profits and growth)

In June, the company said it had raised about $1.2 million -- $777,500 through a pair of private common stock placements and $425,000 by converting notes to company common stock.