GGRAsia – GCA to be rebranded says Sterne Agee CRT

GCA to be rebranded says Sterne Agee CRT

Jul 08, 2015 Newsdesk Industry Talk, Latest News, Top of the deck

The management at Las Vegas-based Global Cash Access Holdings Inc (GCA) is to rebrand the company, says investment analyst David Bain of U.S.-based brokerage Sterne Agee CRT.

“It is… rebranding the entire company – a new name, new logo and new ticker symbol should be revealed later this year,” said Mr Bain in a note on Tuesday after hosting meetings between investors and GCA chief executive Ram Chary and chief financial officer Randy Taylor.

New York-listed GCA – a specialist in cash processing technology and related services to the gaming industry – in December completed the US$1.2-billion acquisition of Multimedia Games Holding Co Inc, a maker and supplier of systems, content and electronic gaming units to the casino industry.

Mr Bain stated: “We believe GCA has identified long-term opportunities to grow gaming machine market share significantly and has begun to accelerate R&D [research and development] spend in order to take advantage of what it perceives as disruption in the supplier marketplace (on the heels of supplier mega mergers, etc).” The latter was a reference to the consolidation in the casino technology supply sector that has happened in the past few years.

Sterne Agee CRT said the shake up at GCA included opening new software development studios in downtown Chicago, Illinois, and Reno, Nevada, and doubling the number of development teams to 16 from 8.

Telsey Advisory Group said in a note on July 2 that it had received “positive indications” on additions to management talent at GCA.