Global Cash Access (GCA), a provider of cash handling solutions and business intelligence services, has announced plans to use its recent acquisition of Multimedia Games to build on its success in 2014.
GCA posted full-year revenue of $152.1 million (€143.4 million), up from $140.5 million in the previous year.
Adjusted earnings before interest, tax, depreciation and amortisation was up from $17.1 million to $24 million, while cash earnings increased from $13 million to $15.6 million.
In addition, cash earnings per share jumped from $0.19 in 2013 to $0.23 in the past 12 months.
However, due to the acquisition of gaming technology developer and distributor Multimedia Games in December, GCA’s operating income plummeted from $11.2 million in 2013 to just $400,000 by the end of 2014.
The acquisition also meant net income tumbled from a positive of $5.7 million in 2013 to a loss of $5.7 million in the most recent 12-month period.
Ram Chary, president and chief executive officer of GCA, said that the company would now use the new assets acquired under the Multimedia Games deal to achieve growth in 2015.
“The completion of the acquisition of Multimedia Games in December has resulted in the combination of differentiated, industry-leading solutions offered by both GCA and Multimedia Games, which enables us to present a unique new value proposition to casino operators,” Chary said.
“We intend to leverage our slot gaming entertainment, payments and compliance solutions to bring enhanced offerings to market that provide excellent returns on our customers’ capital investments in gaming technology.
“In the short time since acquiring Multimedia Games, we have made measurable progress on integrating our two organisations and are tracking to our objectives.”
source : www.igamingbusiness.com
