The investment will provide resources and expertise to enhance the capabilities and growth prospects of the testing and certification laboratory
Global investment firm CVC has become the first external investor in testing and certification laboratory Gaming Laboratories International (GLI).
The strategic partnership will support GLI’s continued growth and long-term development, with the investment made via CVC’s long-duration investment platform Strategic Opportunities, which has completed an investment into GLI and related entities.
The investment will provide resources and expertise to enhance the capabilities and growth prospects of GLI.
“We are truly excited and honored to welcome CVC as a strategic investment partner,” said GLI chief executive officer James Maida. “CVC shares our vision, values, and long-term commitment to the global gaming industry. This partnership creates new opportunities for growth and innovation, allowing GLI to invest even more in the success of the future of the global gaming industry as well as investing in related and adjacent sectors.
“Our leadership, values, and culture focused on customer service remain unchanged. I will continue as CEO and our leadership team remains intact. Together we will stay focused on quality, speed and the customer experience while continuing to drive innovation and outstanding service worldwide.”
CVC partner and GLI board member Matt Turner commented: “Within CVC Strategic Opportunities, we seek to partner with exceptional businesses that have histories of consistent success, strong market positions and significant long-term growth potential.
“GLI fits perfectly with that approach, as over nearly 40 years James and Paul have built GLI into the clear leader in its industry. The company plays a critical role in the global regulated gaming ecosystem and has established itself as a trusted partner to regulators, operators and suppliers around the world. This positions the business extremely well for continued growth, and we are looking forward to working alongside James and the talented team at GLI to support the company’s future success.”
Founded in 1989 and headquartered in Lakewood, New Jersey, GLI has over 1,500 employees globally servicing over 710 regulated gaming jurisdictions worldwide.