Global Cash Access Holdings: Valuation Cheap Even in Worst Case

An LA presenter likes Global Cash Access Holdings (NYSE: GSA, $3.65) at this level. Casino cash access for customers is a big data business as well as a necessity. Global Cash Access is an innovator in the space with the largest database on casino patrons spending patterns and the most advanced cash and cashless functionality. Despite losing its Harrah’s contract recently, the company still has a 67% market share. At the current valuation, the stock may be over reacting to an impact of one lost customer.