Players Receives Contract, Cash as Part of Settlement

Players International announced that it received a cash settlement from First Data Resources and a contract from Comdata Network that together are expected to quadruple Players’ net worth, which on March 31 was $1,057,000.

Calabasas-based Players markets various products and services to gambling casinos, race tracks and other gaming businesses, and operates Players Club International, which offers gamblers discounts on hotel rooms, meals and entertainment at gaming resorts.

Players did not disclose the size of the settlement or the contract.

The settlement and the contract were related to Players’ marketing of electronic cash advance systems, which allow customers, chiefly gamblers, to receive cash advances using their credit cards.

The settlement came as a result of First Data Resources’ sale to Comdata of a subsidiary that provided data processing services for electronic cash advance systems. Players had an exclusive marketing arrangement with the subsidiary when First Data Resources sold it June 30. Under its new contract with Comdata, Players will provide similar marketing services for the cash advance business, but not on an exclusive basis.