UPDATE: Sterne Agee Raises Global Cash Access' PT

According to a research report published earlier today, Sterne Agee has increased Global Cash Access Holdings'

PT from $8.20 to $11.50. In the report, Sterne Agee said, “Last week, GCA became the first/only Nevada licensed “cash access and wagering instrument service provider.” The license positions GCA to be the leading processor of online wagering transactions for casino operators seeking Nevada Gaming Control Board (“NGCB”) approval to conduct real-money online poker games. In essence, we believe GCA has the opportunity to become the “Paypal” of the Nevada hub for online poker.” Sterne Agee maintains its Buy rating on Global Cash Access, which closed yesterday at $7.00.