Apr 15, 2015 Newsdesk Industry Talk, Latest News, World  
Global Cash Access Holdings Inc (GCA), a supplier of cash handling technology and related services to the gaming industry, is an “under followed value name in the gaming supplier space,” said a note on Tuesday from David Bain of United States-based independent brokerage Sterne, Agee and Leach Inc.
Mr Bain said GCA stock was trading at 6.5 times its cash earnings per share, something “not indicative of a gaming supplier with 87 percent recurring revenue”.
GCA said in an investor presentation in September that its recurring revenue comes from proprietary technology, and that this was being enhanced by the acquisition of Multimedia Games Holding Co Inc. The latter firm – also U.S.-based – makes and supplies systems, content and electronic gaming units for Native American and commercial casinos.
“We believe investor interest expands near term as it [GCA] demonstrates top-line execution in its games division combined with progress on post Multimedia Games merger cost synergies,” said Sterne Agee’s Mr Bain.
Nasdaq-listed GCA said in its fourth quarter results covering the three months to December 31 that it had US$10 million in costs and accounting adjustments from the US$1.2-billion deal to acquire Multimedia Games. The Nevada Gaming Commission gave its blessing to the deal in December.
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The Edge financial news outlet reported on Friday a statement on behalf of Malaysian businessman Vincent Tan of lottery specialist Berjaya Corp Bhd, describing as “inaccurate” reports of talks on...(Click here for more)
"With our ambition to be the leading gaming platform for the regulated online real money gaming industry, the addition of NeoGames to our team advances our strategy to build global scale and capability"
Trevor Croker
Chief executive of Aristocrat Leisure