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Global Cash Access Plans To Fold Casino Card Line.

Publication: American Banker
Publication Date: 03-MAR-08
Format: Online
Delivery: Immediate Online Access

Article Excerpt
Global Cash Access Inc. is getting out of the card business.

The main business for the Las Vegas unit of Global Cash Access Holdings Inc. is providing automated teller machines to casinos. Its Arriva credit card, introduced in 2006, is considered an extension of that core activity, because the card was pitched to casino patrons, who could use it only for cash advances at casinos.

But Global Cash Access said last week that it would stop offering the card, which never left the pilot stage, probably next quarter.

The issue was not that the card was slow to catch on, nor the riskiness of...

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