CVC investment gives GLI capacity to boost technology, expertise: Maida

Gaming Laboratories International LLC (GLI), a specialist in testing, compliance and security for the gaming industry globally, says the first external investment in the company’s history will give it greater capacity to strengthen its technology and expertise. The comments were made by GLI president and chief executive, James Maida (pictured in a file photo), in a Thursday open letter to the firm’s clients and partners. GLI announced in June that private equity firm CVC Capital Partners PLC had invested in the company and related entities via its CVC Strategic Opportunities arm. The financial terms and size of the investment were not disclosed. Mr Maida described the transaction in his latest letter as the start of a “new chapter” for GLI. “The first strategic investment in our company’s history gives us greater capacity to strengthen our technology and expertise,” he stated. “Every phase of growth is meant to protect what hasn’t changed: our commitment to the people who trust us to get this right,” the CEO added. At the time it was announced, GLI said the investment would provide additional resources and expertise to support the gaming-testing specialist’s capabilities, expansion and long-term development. Mr Maida said in June that the partnership would create opportunities for growth and innovation, including further investment in the global gaming industry and in “related and adjacent sectors”. He confirmed at the time that he would remain CEO and that GLI’s existing leadership team would stay in place. In his latest communication, the executive said GLI would continue to develop its testing, compliance, cybersecurity and regulatory services in response to the growing “complexity” of the gaming sector. Cybersecurity was highlighted as an area of particular importance, as the systems requiring protection across the industry had become broader and potential threats more sophisticated. “As threats facing the industry grow faster and more sophisticated, customers need a trusted partner capable of evolving just as quickly,” Mr Maida noted. He added: “The industry will keep evolving, and so will we, ensuring that we’re prepared for what’s next so you can be too.” “Protecting gaming’s integrity now means understanding a far broader set of systems, and… help organisations find vulnerabilities and strengthen defences before they become liabilities,” he added. Mr Maida also said GLI’s international workforce now comprised more than 1,600 people. The company had issued more than 118,000 certification letters to over 2,000 suppliers during the past year, he added.