Global Cash Access, Inc. Announces Partial Redemption of Senior Subordinated Notes
(Las Vegas, NV – October 3, 2005) – Global Cash Access, Inc. today announced that it has called for redemption 35% of its outstanding 8 ¾% Senior Subordinated Notes due 2012. The redemption date will be October 31, 2005. The redemption is being made pursuant to Section 3.07(c) of the Indenture governing the notes. The redemption is being funded out of the net proceeds of the recent initial public offering of common stock made by Global Cash Access Holdings, Inc., the parent company of Global Cash Access, Inc.
The redemption covers $82,250,000 of the $235,000,000 outstanding principal amount of the notes. In addition to the $82,250,000 in principal amount of the redeemed notes, the Company will pay $7,196,875 in redemption premium on the redeemed notes, as well as accrued but unpaid interest through the redemption date.
About Global Cash Access
Las Vegas-based Global Cash Access, Inc. (GCA) is a leading provider of cash access products and related services to approximately 960 gaming properties and other clients in the United States, the United Kingdom, Canada and the Caribbean. 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. For more information, please visit the company's Web site at www.globalcashaccess.com.
Contact: Harry C. Hagerty, CFO
Global Cash Access, Inc.
702-262-5003
hhagerty@gcamail.com
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