LAS VEGAS, March 25, 2014 (GLOBE NEWSWIRE) -- Global Cash Access Holdings, Inc. ("GCA" or the "Company") (NYSE:GCA), a global provider of innovative cash access solutions, cash handling devices and related services and business intelligence for gaming establishments, today announced that GCA and Caesars Entertainment Operating Company, Inc. ("Caesars") have elected not to renew the automated teller machine (ATM) services, point-of-sale debit services and credit card cash access services and ticket redemption device service agreements between the parties and certain of their subsidiaries, which agreements were due to expire on March 31, 2014. GCA has agreed to continue to provide its services to Caesars for a transition period to facilitate the transfer of services to an alternate provider.
GCA elected not to renew its agreements with Caesars because it was not willing to accept the business and financial terms proposed by Caesars regarding the renewal of these agreements. The Company intends to continue to focus its personnel and technology resources on further strengthening its relationships with its key strategic customers by continuing to provide its customers with innovative cash access and handling products and services.
The Company reaffirms its Adjusted EBITDA and Cash EPS estimates for the year ending December 31, 2014 as previously disclosed in the Current Report filed on Form 8-K with the Securities and Exchange Commission on March 11, 2014.Cautionary Note Regarding Forward-Looking Statements This press release contains forward-looking statements within the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. All statements included in this press release, other than statements that are purely historical, are forward-looking statements. Words such as "going forward," "believes," "intends," "expects," "forecasts," "anticipate," "plan," "seek," "estimate" and similar expressions also identify forward-looking statements. Forward-looking statements in this press release include, without limitation, our intention to focus our personnel and resources on further strengthening our relationships with key strategic customers.