The Visualize Group acquires BMM Testlabs for regulated gaming growth
While still subject to regulatory approvals, BMM Testlabs President and CEO Martin Storm will retain a ‘significant’ stake in the company as part of the transaction.
Key Points
- Headquartered in Las Vegas, Nevada, and founded in 1981, BMM provides TICC services to gaming product suppliers in regulated gaming markets across six continents
- Visualize will implement a broad-based employee ownership program to allow BMM employees the opportunity to participate in Visualize’s value creation plan
The Visualize Group has agreed to acquire BMM Testlabs, which provides testing, inspection, compliance and certification (TICC) services for the global regulated gaming industry.
Financial terms of the transactions have not yet been disclosed, but BMM President and CEO Martin Storm is set to retain a “significant” stake in the company and continue overseeing the business.
“For 44 years, BMM has dedicated itself to becoming the premier service provider and partner to gaming regulators, suppliers and operators, ensuring that regulated gaming is conducted safely, transparently and compliantly,” Storm said.
“It’s a privilege to contribute to this journey and witness the achievement of our ambitious goals. Partnering with Visualize marks an exciting new chapter, as together we will drive growth for BMM and seize the immense opportunities within the evolving gaming market.”
As part of the transaction, Visualize will implement a broad-based employee ownership program to allow BMM employees the opportunity to participate in Visualize’s value creation plan, which includes several pre-identified organic and inorganic growth initiatives.
Good to know: On July 26, 2022, BMM Testlabs secured licensing to test and certify casino gaming equipment in Nebraska only days after also receiving certifications in Ohio
“As thematic investors, we strive to invest in exceptional businesses and management teams providing mission-critical services in growing markets. BMM exemplifies this. Our team has closely studied the rapid global expansion of regulated gaming markets, and we believe this trajectory will continue,” Visualize Managing Partner CC Melvin Ike said.
“As new jurisdictions open around the world, the need for safe and compliant gaming continues to rise. With its global footprint, track record of technical leadership, and trusted reputation in the market, we believe BMM is the best-positioned regulatory technology platform to capitalize on the market opportunity. We’re thrilled to collaborate with Storm and the entire team at BMM.”
Headquartered in Las Vegas, Nevada, and founded in 1981, BMM provides TICC services to gaming product suppliers in regulated gaming markets across six continents. Visualize will seek to “uphold” BMM’s reputation of “service excellence” and invest in supporting its customer base as regulated gaming markets continue to expand and grow globally.
Tags/Keywords
Players trust our reporting due to our commitment to unbiased and professional evaluations of the iGaming sector. We track hundreds of platforms and industry updates daily to ensure our news feed and leaderboards reflect the most recent market shifts. With nearly two decades of experience within iGaming, our team provides a wealth of expert knowledge. This long-standing expertise enables us to deliver thorough, reliable news and guidance to our readers.
Latest News
