Strategic acquisition positions BMM for rapid global expansion and increased operational scale in the fast-growing regulated gaming sector

The Visualize Group (“Visualize”), a private investment firm focused on concentrated investing in mission-critical, services-based companies,  announced that it has agreed to acquire BMM Testlabs (“BMM”), a leading provider of testing, inspection, compliance, and certification (“TICC”) services for the global regulated gaming industry. BMM Testlabs’ President and Chief Executive Officer Martin Storm will retain a significant stake as part of the transaction and continue leading the business. Financial terms of the transaction were not disclosed, and the transaction is subject to regulatory approvals.

Headquartered in Las Vegas, Nevada, and founded in 1981, BMM provides TICC services to gaming product suppliers in regulated gaming markets across six continents. With a 44-year track record of commitment to integrity, innovation, and technical excellence, BMM ensures that gaming products meet regulatory standards and deliver secure, fair, and reliable experiences. 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.

As part of the transaction, Visualize will implement a broad-based employee ownership program to allow BMM’s employees the opportunity to participate in Visualize’s value creation plan for BMM, which includes several pre-identified organic and inorganic growth initiatives.

BMM Testlabs President and Chief Executive Officer Martin Storm said, “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. 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.”

C.C. Melvin Ike, Managing Partner of Visualize, said, “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. 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.”

Advisors
Weil, Gotshal & Manges LLP acted as legal counsel to Visualize. Gadens acted as legal counsel to BMM Testlabs.

Strive Gaming (“Strive”), the modern, multi-state and province, multi-tenanted platform provider focused solely on the North American market, has partnered with Delta Bingo & Gaming Online (“Delta”) as it plans for an exciting growth phase of its digital business.

Delta is a pioneer in providing exciting land-based experiences from Bingo to Vegas-style machines at their 20 locations predominantly in Ontario, Canada and Maryland, USA, with ethics and charitable focus front of mind. Delta launched its digital gaming business in 2023 and is now making a significant move to expand and deepen that offering by partnering with Strive Gaming.

Under the relationship, Strive will provide its market-leading player account management services to Delta, running on the Strive Infinity Engine, which drives higher lifetime values by bringing operators closer to their players through operational automation and contextual real-time engagement.

Strive will also handle the development of front-end experiences for Delta.

Strive’s platform has been built purely for the post-PASPA North American market, designed to meet the individual needs of operators while also being compliant with differing state and provincial regulations.

Strive’s systems are already live in a multitude of states and provinces (including Ontario) with other customers such as Four Winds Casinos, PointsBet, and Golden Nugget (a DraftKings company).

Max Meltzer, CEO of Strive Gaming said: “I am delighted to add such a highly regarded and smart operator such as Delta Bingo & Gaming to our growing list of partners in North America. Once set up on our platform, we truly believe they have a team capable of achieving enormous growth for their digital business.

They have loyal land-based and digital customers that expect a best-of-industry, high quality experience in any activity, product or service that falls under the Delta brand, and we intend to ensure that this continues to be the case here”.

Leo Perri, CEO of Delta Bingo & Gaming, said: “Strive Gaming is an experienced provider in the markets we operate in and has made a great effort to understand our needs. Their specialized focus and dedication aligns with our customer experience goals, and we believe that they can help us bring our customers a world class digital casino experience.

“We’ve been impressed by not just their technology, but their team depth as well. We expect that this is going to be a true collaboration, and we look forward to working with them for a long time”