Travelers Express, the money order and electronic payment processing subsidiary of Viad Corp., announced the acquisition of Game Financial Corp. for an estimated $51 million in stock.
Game Financial's primary business is providing credit-card cash advances to casino patrons. The company also offers automated teller machine services and personal check cashing services to casinos.
"It is a fast-growing business," said Philip W. Milne, chief executive officer of Travelers Express. "They have an interesting niche in the payment service business."
Travelers Express hopes to capitalize on Game Financial technology that captures and analyzes demographic information about users of its services.
Mr. Milne said teaching employees at Travelers Express' 40,000 locations to sell credit card advances is a "natural extension" of Travelers' regular business.