Should Global Cash Lose It's License?

Posted by John B. Frank Friday, June 26, 2009

Arizona regulators say Vegas ATM company, Global Cash, should lose license

Casino City Times: An Arizona agency says Global Cash Access Inc. of Las Vegas can't be trusted as a casino vendor because it committed theft and fraud years ago, and in recent years has lied to regulators about that scandal and other issues. The harsh words about the company are in a June 3 report from the Arizona Department of Gaming recommending Global Cash lose its license to do business in that state, where it now contracts with about 20 Indian casinos. Global Cash, which provides gaming-credit services and ATMs in casinos, revealed the Arizona action earlier this month and said it plans to contest the recommendation. The Arizona report says that from 1999 to 2002, Global Cash deliberately miscoded transactions involving Visa by disguising cash transactions as retail purchases, meaning it would pay a lower fee to banks issuing the Visa cards. Global Cash made $26 million with this scheme, the Arizona report says.

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