Global Cash Access Announces Repurchase of Shares of Common Stock and Notice of Redemption of Shares of Common Stock

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Wed Jun 24, 2009 2:18pm EDT

LAS VEGAS--(Business Wire)--
Global Cash Access Holdings, Inc. (NYSE:GCA) today announced that it has
repurchased 5,785,602 shares of its common stock from one of its founders,
Robert Cucinotta, at a per share price of $6.25 and an aggregate price of
$36,160,012.50. The repurchase was a private transaction and was funded with
existing cash resources. The repurchase was separately approved by the Board of
Directors subsequent to the previously-announced authorization to repurchase up
to $25 million shares of common stock. 

The Company today also announced that it is sending written notice to one of its
founders, Karim Maskatiya, of the Company`s redemption of 6,652,475 shares of
its common stock from Mr. Maskatiya pursuant to the provisions of the Company`s
certificate of incorporation that provide the Company with the right to redeem
shares of its common stock that are owned by stockholders that are found to be
unsuitable stockholders for gaming regulatory purposes. 

The redemption will be completed on or about September 22, 2009 at a price per
share equal to the average closing price of the Company`s stock on the New York
Stock Exchange during the thirty trading days prior to the date of notice. The
average closing price of the Company`s stock on the New York Stock Exchange
during the thirty trading days prior to today is approximately $6.98. The
redemption price will be paid by an unsecured promissory note having a term of
five years and bearing interest, compounded annually, at the prime rate of
interest as published in the Wall Street Journal on the date of redemption. 

The redemption notice was sent in an attempt to avoid the Company`s loss of its
regulatory approval to provide its products and services at Native American
gaming establishments within Arizona. 

About Global Cash Access Holdings, Inc.

Las Vegas-based Global Cash Access, Inc. ("GCA"), a wholly owned subsidiary of
Global Cash Access Holdings, Inc., is a leading provider of cash access products
and related services to over 1,100 casinos and other gaming properties in the
United States, Europe, Canada, the Caribbean, Central America and Asia. GCA's
products and services provide gaming patrons access to cash through a variety of
methods, including ATM cash withdrawals, point-of-sale debit card transactions,
credit card cash advances, check verification and warranty services, and Western
Union money transfers. GCA provides products and services that improve credit
decision-making, automate cashier operations and enhance patron marketing
activities for gaming establishments. With its proprietary database of gaming
patron credit history and transaction data on millions of gaming patrons
worldwide, GCA is recognized for successfully developing and deploying
technological innovations that increase client profitability, operational
efficiency and customer loyalty. More information is available at GCA's Web site
at www.gcainc.com. 



Global Cash Access, Inc.
George Gresham, 702-855-3005
CFO
IR@gcamail.com

Copyright Business Wire 2009

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