Four casinos have agreed to use some or all of its VIP LightSpeed suite of cash access services from Global Payments Inc.
The Atlanta company announced its deals Tuesday with Emerald Princess of Brunswick, Ga., Spirit Mountain Casino, of Grande Ronde, Ore., Jackpot Junction Casino of Morton, Minn., and Eastside Cannery of Las Vegas.
The VIP LightSpeed suite includes the VIP Preferred check-cashing service, the PlayerCash Advantage debit and credit card cash advance service, and the ATM Cash Advance service, along with risk management, compliance, and reporting capabilities.
Global Payments offers a variety of processing and cash access services to casinos, as well as such payment products and services as remittances and credit and debit card processing, gift cards, and check guarantee and verification.
Dean DeCristoforo, Global Payments' senior vice president for gaming services, said in a press release that the services will help his company's new customers "operate more effectively and build patron loyalty."
Julio Quinteros, a Goldman Sachs Group Inc. analyst, upgraded Global Payments' shares Thursday to "buy," from "neutral," citing its international payment processing operations and the fact that much of its domestic processing is for nondiscretionary purchases.
He wrote in a research note that 46% of the company's revenue comes from its Canadian, European, and Asian units, which are offsetting the "headwind" from the poor U.S. economy.
"Global Payments seems to be navigating through the current economic environment," Mr. Quinteros wrote.
