BMM Testlabs has announced that it has been approved by the UAE Commercial Gambling Regulatory Authority (GCGRA) to begin testing and certifying lottery products for the newly established United Arab Emirates (UAE).
BMM Testlabs will leverage its experience in gaming and penetration testing, as well as its experience in providing product compliance services to numerous gambling industries and companies, to assist the newly established regulatory body in the UAE in testing products in the thriving market. BMM Testlabs will initiate testing for the UAE lottery (which will officially start its first draw in December 2024) as well as physical and digital gambling products. Thus, the agency has become one of the few companies approved by the GCGRA to operate in the UAE market.
In fact, after initial reports that Wynn Resorts was eyeing a $2.4 billion casino development project in the UAE, the operator became the first company to obtain a license for the Al Marjan Island development project in October 2024. Shortly thereafter, later that month, Aristocrat confirmed that it had received the first gambling-related supplier license issued by the GCGRA. Recently, in early April, Novomatic became the second company to receive the same gambling supplier license issued by the GCGRA.
Regarding BMM Testlabs' entry into the market, CEO Martin Storm said: "We are very pleased and honored that the GCGRA has entrusted BMM Testlabs with the testing of its new lottery, physical and digital gaming projects. We believe we will complete this task with the highest level of fairness, technical expertise, transparency, efficiency, and most importantly, integrity."
It is worth noting: The UAE will issue its first authorized lottery operating license in July 2024.
For BMM Testlabs, this latest update follows the announcement that the company will be acquired by Vizualize Group (a private investment company focused on service-oriented businesses).
As part of this transaction, Storm will retain most of the company's equity and continue to serve as CEO. In addition, an employee stock ownership plan and global expansion plan have also been formulated. As of now, all financial details have not been disclosed, and the acquisition has not yet received official approval from regulatory authorities.
