Kirk Sanford has seen many of his activities reported in the press. Aside from press articles, there have also been a number of Press Releases that document the successes and innovative products of Sanford and his various companies.
We will be bringing a number of these press releases as individual posts, and for further press releases we will also make a page dedicated to them.
Global Cash Access Inc. was Kirk Sanford’s company until his retirement after 14 years of leadership in November 2007. The last position Sanford held was as CEO, after having held the positions of chairman and director.
Sanford is a central figure in the American financial markets. Global Cash Access Inc. (NYSE:GCA) is a premier cash access institution serving the American and International gaming industries, spanning the US and Canada, South America, the U.K., Europe and Asia.
Kirk Sanford retired from the position of CEO at Global Cash Access Inc. (NYSE:GCA) in November 2007. This marked the end of a 14 year career with GCA in the positions of chairman, director and CEO. During Sanford’s years at GCA, the company saw revenues in excess of $600 million, had a value of over $1.5 billion, and GCA employed over 400 individuals.
During this time, Sanford was extremely successful, and 4 years ago, at the age of 39, Business Week named him as one of the top 100 CEOs under the age of 40.
For approximately 20 years Kirk Sanford has been serving in a number of high level commercial positions across a number of business spheres.
Sanford served as the chief executive officer and also board chairman of Global Cash Access (GCA) for 14 years until 2007 when he retired from GCA. He led GCA to more than $1.5 billion in valuation, annual revenues of $600 million, and to employing 400 employees in countries across the world.
Sanford was named as one of the most influential CEOs under the age of 40 by Business Week Magazine.
In 2004 there was a volume of positive press about the successes and bright future of Global Cash Access (GCA) where Kirk Sanford served as CEO.
GCA, the world’s leading supplier of cash access and customer relationship marketing technologies, primarily to the gaming industry, was “positioned for long-term success.” The event occurred when Global Cash Access was recapitalized in a $316 Million Investment that was led by Summit Partners.
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At a time of rapid growth for the eight year old firm Global Cash Access, a recapitalization to the amount of $316 million will place the world’s leader in cash access technologies and customer relationship at the juncture of long-term growth.
The investment was led by Summit Partners one of the most prominent private equity and venture capital firm. Tudor Ventures was a co-investor in addition to several smaller investments from private equity investors.
To read more about this development and an analysis of what this vote of confidence from the financial world will mean to the growth of GCA, you can read the full article here by following this link, Global “Cash Access Recapitalized in $316 Million investment led by Summit Partners.”
QuickJack Plus was released in 2003, and it is one of the unique and innovative products that allow Kirk Sanford (CEO) and his Global Cash Access the edge in the gaming industry. Indeed, QuickJack Plus was honored as one of the recipients of the Top 20 Most Innovative New Gaming Products Awards by Casino Journal.
QuickJack Plus is an intuitive interface that enables gaming patrons to perform all of their cash requirements while at the casino. This includes cashing in slot tickets, vouchers and coupons, performing ATM, credit and debit card cash advance transactions, redeeming the players’ club points for various complimentary services, as well as cashing and breaking bills to exchange currency. Other functions can be incorporated into QuickJack Plus, based on the different gaming properties’ needs.
QuickJack Plus is supplied and marketed by NRT Technology Corporation and it incorporates various GCA ATM and cash services.
Kirk Sanford, CEO of Global Cash Access, “We are thrilled to be honored with NRT for this prestigious award.”
In an innovative use of ATM technology it will be possible to send cash using your cash access card. In a pilot trial in Texas, First Data Corp’s Western Union, Infonox and Global Cash Access will let customers send or transfer funds through Western Union.
To read the full article follow the link to:
In the year 1999 Global Cash Access (GCA) installed QuikCash terminals for its entire client base, which includes over 1,000 separate casinos. Easy and convenient, these terminals have touch screens, smart card compatibility, Hypercom ICE 5000, and FastPOS™ 9600-baud modems.
The old terminals that these replaced had several problems, including that they were not Year 2000 compliant, were not “user-friendly” with convenient touch screens, and did not allow the entry of a PIN- personal identification number.
According to Kirk Sanford, the CEO of GCA, the new system for cash access is much better for several reasons.
“When a customer walks into a gaming establishment, we provide all ways for them to get cash. POS debit cards, credit cards and a check-cashing program tie in with the system. Customers can also send and receive wire transfers through Western Union.”
In addition, the casino and GCA make a percentage of each transaction, ranging between 3%-6%, depending upon the casino. Every time a potential customer walks away from a POS in frustration because he couldn’t make a withdrawal of funds, money is lost for the casino and GCA. Mr. Sanford points out that there has been a 20% increase in cash access transactions at the new POS debit system terminals. With nearly 4 billion dollars worth of transactions each year at the QuikCash machines, Mr. Sanford knows that installing the latest in POS machines is a gamble that can’t lose.
When most people think of gambling, they think of a high risk venture that is only tangentially related to business. But not Kirk Sanford. As the CEO of Global Cash Access, Mr. Sanford has been able to harness the gambling industry into a profitable business, with gross revenues topping 250 million dollars in 1998.
Global Cash Access (GCA) is a 250-employee company headquartered in Sunnyvale, California, which provides state-of-the-art tools for accessing funds. Providing the products, services and technology to the casino market with automatic teller machines (ATMs) and point-of-sale (POS) devices, GCA supplies an incredible 85%-90% of casinos in the United States, Canada and the Caribbean with fast and easy ways for their customers to access funds.
