CVC Capital Partners preparing to acquire Gaming Laboratories International
Two recent antitrust filings in Europe reveal that private equity firm CVC Capital Partners is planning to purchase global gaming certification leader GLI.
Paysafe set to acquire PagoEfectivo
According to filings in Austria and Malta, Avalon Buyer Limited—a UK-listed company backed by CVC Capital Partners—intends to acquire Gaming Laboratories International, along with affiliates Worldwide Laboratories LLC and Kobetron LLC.
Austria’s Federal Competition Authority (BWB) published the notice on 3 July, setting a 31 July deadline for companies to submit comments. Malta’s Competition and Consumer Affairs Authority updated its own filing on 11 July, though its shorter comment period has already ended.
Avalon, formed in April 2024, lists directors Zachary Kelly and Matthew Turner. Kelly serves as CVC’s investment director, while Turner is head of strategic opportunities for North America.
Neither filing disclosed financial terms, but both confirm Avalon seeks full control over GLI’s testing, inspection, and certification operations in the gaming industry.
CVC has not commented on the potential acquisition. GLI also declined to provide a statement.
An industry lynchpin
Founded in 1989 by James Maida and Paul Magno, GLI is headquartered in Lakewood, New Jersey. Over the years, it has grown into one of the most influential certification firms in gaming, with standards respected by regulators worldwide.
Today, the company operates 32 offices globally. Its work has been central to developing regulated markets across Australia, Macau, Brazil, and the UAE, among others.
Beyond traditional casino testing, GLI now covers sports betting, iGaming, cybersecurity, and consulting. It also runs the annual Regulators Roundtable, one of the industry’s most recognized training events.
Although its financials are private, GLI’s consistent growth and recent acquisitions suggest a valuation likely in the nine-figure range.
Asked about a sale last year, Maida told Fantini Research: “We never take anything off the table. But what matters most is shaping what GLI will look like in the decades to come.”
CVC long history with gaming
CVC, headquartered in Jersey, has a strong track record in gaming and sports betting. Its previous investments include William Hill, IG Index, Sky Bet, and Sisal, along with other holdings in sports and entertainment.
Though it scaled back its presence in gaming in recent years, CVC has remained active. In 2022, it formed a partnership with Belgian operator Gaming1, and in 2024, it divested Tipico’s US operations to LeoVegas. The GLI deal signals a renewed push into the sector.
CVC currently ranks as the sixth-largest private equity investor worldwide, according to Private Equity International.
Both leading testers acquired by PE
If completed, the GLI deal would mean that both of the gaming sector’s dominant testing companies are now owned by private equity. Earlier this year, BMM Testlabs was acquired by Visualize Group for an undisclosed sum.
That agreement excluded BMM’s responsible gaming training business but included its testing and cybersecurity services. A similar structure could emerge in CVC’s acquisition of GLI, though this remains unclear.
Notably, BMM founder Martin Storm retained a significant stake after the sale. Whether GLI’s founders Maida and Magno will do the same is yet to be determined.
Together, the two acquisitions highlight growing private equity interest in compliance and testing—fields that are becoming more vital as gaming expands worldwide.
“As new markets regulate across the globe, demand for safe, compliant gaming grows with them,” said Visualize managing partner CC Melvin Ike after the BMM deal.
