Global Cash Access Names New CEO

The $500 million Las Vegas-based Global Cash Access Inc.(GCA) announced on October 31, 2007 that it named Scott Betts, age 53, as the new CEO and interim CFO. He was also appointed to the company’s board of directors. According to the company’s 8-K, Mr. Betts had been an independent consultant to various companies in the payments processing industry since March 2006. From May 2002 to March 2006, he was the President of First Data Merchant Services and First Data Corporation's Payment Division (FDC). In 2004, GCA was a majority-owned subsidiary of FDC. At FDC, Mr. Betts led over 12,000 employees at 11 major locations. In March 2004, GCA redeemed FDC’s ownership interest in a leveraged recapitalization with Summit Partners, a private equity and venture capital firm. Mr. Betts started his career with Procter and Gamble in 1977 and had served as General Manager/Vice President of North America Fem Care and Global Tampax from 1997 to 2001.

Mr. Betts’s employment agreement entitles him to receive an annual base salary of $450,000 and is eligible for an annual bonus in an amount of up to 50% of his then current base salary. He is also entitled to twelve months severance pay.

Kirk Sanford, 41, resigned as the President, CEO, Secretary and interim CFO of the Company, on October 31, 2007. Effective upon his resignation, Mr. Sanford also resigned from the Board of Directors of the Company. Mr. Sanford was reported to be retiring from the company to pursue other interests and spend time with his family.

The CFO, Harry C. Hagerty III, was terminated on July 27, 2007. Mr. Hagerty’s employment agreement had expired on July 12, 2007 and Mr.Hagerty's employment reverted to an "at will" employee. Prior to joining GCA, Mr. Hagerty was Executive Vice President and CFO of Caesars Entertainment, Inc.

1. “Global Cash Access Names Scott H. Betts President and CEO.” Business Wire. Company Press Release. October 31, 2007

2. Form 8-K for GLOBAL CASH ACCESS HOLDINGS, INC. Change in Directors or Principal Officers, Financial Statements. November 2, 2007.

3. Form 8-K for GLOBAL CASH ACCESS HOLDINGS, INC. Change in Directors or Principal Officers, Regulation FD Disclosure. July 27, 2007.

4. Form 8-K for GLOBAL CASH ACCESS HOLDINGS, INC. Change in Directors or Principal Officers. July 24, 2007.