GLI co-founder James Maida says the impending sale of the company to private equity firm CVC Capital Partners will provide the company with financial security and new avenues for expansion that do not exist under its current ownership model.
Revealing that discussions over “institutionalizing” GLI have been ongoing for the past 14 months before becoming public in July, Maida told Inside Asian Gaming on day one of the G2E tradeshow in Las Vegas that now is the perfect time for he and fellow founder Paul Magno to hand over the financial reins of the company as it looks to shore up its position as the leading industry test lab globally.
“It was time that we started thinking about it,” said Maida, pointing to the company’s foundation in New Jersey in 1989.
