Compass Point Reiterates a 'Buy' on Global Cash Access (GCA) Catalyst From Internet Gaming

Compass Point reiterates a 'Buy' on Global Cash Access (NYSE: GCA) price target of $12.00.

Analyst, Douglas Greiner, said, "As expected, GCA recently received the first broadly defined internet gaming license issued by Nevada in March. The license permits money transfers through mobile and internet services...GCA is benefitting from a $52 million tax shield through 2019. The operating environment is stable to improving lifting earnings and increasing the present value of the DTA. Customer concentration and leverage risks linger, but are contained this year. The new license positions GCA to benefit from the legalization of internet gaming. We believe that legislation legalizing online poker will be approved by the U.S. Congress. Timing is the main hurdle."

For an analyst ratings summary and ratings history on Global Cash Access click here. For more ratings news on Global Cash Access click here.

Shares of Global Cash Access closed at $7.79 yesterday.

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