CVC Capital Partners is set to acquire Gaming Laboratories International (GLI), one of the industry’s most influential testing and certification firms, through a UK-registered entity called Avalon Buyer Limited. Regulatory filings in Austria and Malta reveal CVC’s intent to gain full control of GLI and its affiliates—Kobetron LLC and Worldwide Laboratories LLC.
While no financial terms have been disclosed, documents show Avalon aims to take over all operations tied to GLI’s global compliance footprint. The Austrian competition authority has set a public comment deadline of July 31. Malta’s equivalent comment window has already closed.
Avalon Buyer: A Fresh Vehicle for an Experienced Player
Avalon Buyer Limited was incorporated in April 2025, backed by CVC Funds and directed by CVC executives Zachary Kelly and Matthew Turner. Both are seasoned players in private equity and based in the U.S., with Turner leading North American investments and Kelly serving as an investment director.
The acquisition hints at CVC’s renewed focus on gaming infrastructure. While the firm has scaled back direct-to-consumer gaming assets like William Hill and Sky Bet in recent years, this deal points to a pivot toward regulatory and compliance services.
GLI’s Global Role in Gaming Compliance
Founded in 1989 by James Maida and Paul Magno, GLI has grown from a local New Jersey startup into a global compliance force with 1,800 employees operating across 35 jurisdictions. The firm’s services go far beyond product testing—GLI is active in iGaming, sports betting, cybersecurity, responsible gambling, and consulting.
GLI’s involvement in developing regulatory frameworks for markets such as Brazil, the UAE, Australia, and Macau has cemented its role as a key player in the global expansion of legal gaming. Its long-running Regulators Roundtable, now in its 25th year, further bolsters its reputation as a trusted authority in gaming compliance.
A Year of Private Equity Plays in Gaming Testing
If finalized, this acquisition means both of the sector’s top independent testing labs will be under private equity control in 2025. BMM Testlabs, GLI’s closest rival, was bought by Visualize Group in April. That deal excluded BMM’s responsible gambling division and left founder Martin Storm with a substantial stake—raising questions about whether GLI’s leadership will strike a similar arrangement with CVC.
GLI co-founder James Maida previously hinted at openness to a sale, telling Fantini Research, “We never take anything off the table,” while emphasizing the company’s long-term vision.
CVC’s Broader Gaming and Sports Ambitions
The GLI deal isn’t happening in isolation. In June, CVC launched SportsCo, a new holding company tied to £9 billion in assets across global sports—including stakes in LaLiga, Ligue 1, and the Women’s Tennis Association. The firm’s strategy appears increasingly focused on infrastructure—whether in gaming regulation or sports entertainment.
Pending regulatory approval, CVC’s acquisition of GLI is expected to close in the second half of 2025. If completed, it will mark a return to gaming for CVC—but with a clear shift in direction toward compliance, safety, and back-end infrastructure.
