01.11.2007 00:42:00
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Global Cash Access Names Scott H. Betts President and CEO
Global Cash Access, Inc. (NYSE: GCA), the global gaming industry’s
leading provider of cash access services, today announced that it has
named Scott H. Betts as President, Chief Executive Officer, and interim
Chief Financial Officer, succeeding Kirk Sanford, who is retiring from
the company to pursue other interests and spend time with his family.
Mr. Betts assumed his responsibilities today.
Mr. Betts, 53, joins the company after five years with First Data
Corporation (FDC), where he was Executive Vice President, President of
Domestic Enterprise Payments. He is a seasoned business leader with an
extensive general management background, having led large, complex
businesses at public corporations. In 2004, Mr. Betts had responsibility
for GCA, which was at that time a majority-owned subsidiary of FDC. At
FDC, Mr. Betts led over 12,000 employees at 11 major locations in the
business unit’s Merchant Services, Check
Services, and Debit Services. In March 2004, GCA redeemed FDC’s
ownership interest in a leveraged recapitalization with Summit Partners,
a private equity and venture capital firm.
Said Mr. Sanford, "Scott and I had the
opportunity to work together prior to our acquiring GCA from First Data
Corporation. He brings with him a very strong understanding of our
business and our industry. Scott’s broad
experience in transaction processing, manufacturing, brand management,
and marketing will serve Global Cash Access well.”
Prior to FDC, Mr. Betts had a distinguished 24-year career at Procter &
Gamble (NYSE: PG) where his experience in growing enduring brands will
be an asset to the GCA business. He held a number of senior management
positions in marketing, product management and brand development. He
joined the company as an engineer, and ultimately advanced to General
Manager/Vice President of P&G’s Western
Europe Tissue Towel division based in Geneva, Switzerland.
"I am excited to take on my new role at Global
Cash Access, and I want to thank the Board of Directors for giving me
this opportunity to continue building on the strength of GCA as the
industry’s leading cash access provider,”
said Mr. Betts. "Given my good historical
relationship with GCA, Kirk and the employees, I am confident we will
have a smooth transition and believe this is a good fit for GCA and its
shareholders. GCA has tremendous growth opportunities and I look forward
to an exciting future with the company.” Upon
his retirement, Mr. Sanford said, "I have
enjoyed being part of the building of a great company over the past
decade.” About Global Cash Access
Global Cash Access, Inc., a wholly owned subsidiary of Global Cash
Access Holdings, Inc. (NYSE: GCA), is the world's leading provider of
cash access and related services to the gaming industry. Based in Las
Vegas, GCA serves approximately 1,000 casinos and other clients in the
U.S., Canada, Europe, the Caribbean and Asia. With a singular focus on
the worldwide casino industry, GCA provides proprietary technology that
helps responsible patrons access cash via ATM, debit card, check cashing
and credit card cash advance transactions for their casino
entertainment. GCA also provides services that enhance casino marketing
initiatives and credit decision-making through its wholly owned
subsidiary Central Credit LLC, a credit decision-making tool that uses
proprietary credit bureau databases. GCA is recognized with numerous
gaming industry awards for developing technologies and services that
enhance casino profitability and customer loyalty. For more information,
visit www.globalcashaccess.com.
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