Latest news with #GCL
New Indian Express
5 days ago
- Business
- New Indian Express
Inside the chess world's race to ace the Indian market
STAVANGER: The FIDE World Cup is scheduled to be held in India later this year. The third season of the Global Chess League (GCL), owned and conducted by an Indian company, may be held in Chennai in December. Another edition of the Chennai Grandmasters, India's only super tournament, is scheduled to be held in August. It may be bigger and better than the first two. Viswanathan Anand, a former five-time world champion, is one of FIDE's top officials. D Gukesh is the reigning world champion. Arjun Erigaisi, now in the top five, had to play and win a lot of open tournaments. These days, Erigaisi gets invited to a lot of top-tier events; an indication of his standing. Likewise with Aravindh Chithambaram, R Praggnanandhaa and so on. In short, if you are an Indian — or an Indian entity — involved in chess, this is boom time. Everybody wants in on the gravy train or the 'Indian market'. It, of course, wasn't like this before. "The pandemic changed it from an Indian (chess) perspective," says Srinath Narayanan, a GM who has organised several events over the last few years. "Indian players were getting invites to the big events but not at the level we are seeing now. But you can also understand why they are getting invites to the super tournaments now, there are two of them in the top five." The 'two of them' Narayanan refers to are featuring at Norway Chess —Gukesh and Erigaisi. Here's Kjell Madland, the tournament's founder and tournament director. "India is so important," Madland says. "It's a very big country and it's growing... the economy, technology and also they have so many young players. It's very important to have connections with Indian players and the market in India." Madland and his team at Stavanger, the annual destination for Norway Chess, have already held exploratory talks with stakeholders in India apropos holding events in India under their umbrella. It's not hard to imagine why they would want to do so. It could be a case of future-proofing the brand in a post Magnus Carlsen world (the World No. 1 could well stop playing Classical chess from next year). "In the first year (2013), Vishy (Viswanathan) Anand played and he was the world champion. Even from the beginning, we knew India was important." That kind of sentiment is reflected in the number of Indians in the draw this year. There are four (two each in the Open and women's), a record for Indian players at the tournament in its 13-year history. Narayanan has a theory as to why that may be the case across invitational closed competitions. "There are a fair few players in the top-10 and top-20 so they have got there with the way they have performed. Take both Erigaisi and Gukesh, for example. They have won a lot of open tournaments and now are getting invited to super events fairly regularly." It's not just the Indian players who have been front and centre. In 2024, the Tamil Nadu government as well as the All India Chess Federation (AICF) submitted two separate bids to host the World Championship. A year earlier, the TN government organised a super tournament to help one of Gukesh or Erigaisi to qualify for the Candidates via the circuit (the former capitalised). Narayanan, tasked with the role of bringing that competition to life, explains. "Chess is a difficult event to get sponsors on but I would say it has been better to get sponsors on board in 2024 and now. Because, in 2023, it existed only as a concept." Young Indian GMs, including the likes of Praggnanandhaa and Gukesh, are at the top of the wish-list because of their social media followings. While appearance fees aren't big in chess, organisers of the big events, especially in 2025, may prefer to get on board a player who has a bigger social media footprint. "If you are looking at two similarly rated players but have only a slot, their social media accounts can play a role," Narayanan says. It's like this because there is the added element of the tournament receiving potentially more eyeballs on social media. Wednesday's pairings: Open: Magnus Carlsen vs Wei Yi, Fabiano Caruana vs Arjun Erigaisi, D Gukesh vs Hikaru Nakamura. Women: Koneru Humpy vs Sara Khadem, Ju Wenjun vs R Vaishali, Lei Tingjie vs Anna Muzychuk.
Yahoo
23-05-2025
- Business
- Yahoo
3PL focused on events, luxury goods changes private equity hands
Private equity firm Providence Equity Partners has acquired a controlling interest in Global Critical Logistics (GCL). New York-based GCL specializes in arranging freight transportation for live events (concerts and sports) as well as fine art and luxury cars for shows and auctions. The 3PL's mission-critical, high-service brands include Rock-it Cargo, DIETL, CARS, SOS Global and Dynamic International. The company also secures and stores high-end items. GCL executes more than 10,000 projects globally each year out of a network of over 60 offices. Financial terms of the transaction were not provided, but The Wall Street Journal said the deal totaled more than $1 billion.'Providence's commitment validates our customer focus and growth strategy and will expand our capabilities further in the years ahead,' said GCL President and CEO Daniel Rosenthal in a news release. 'The Providence team's proven track record and depth of relationships in our end markets make them the ideal partner for the next chapter of serving our customers.' Providence replaces ATL Partners as GCL's majority shareholder. ATL Partners was the company's primary backer for the past seven years and will retain a minority stake in GCL. Rosenthal will continue in his current role with the company. 'For nearly 50 years, GCL has earned the trust of the world's biggest names in the live events sector and established a leading position in all of the end markets it serves,' said Scott Marimow, managing director at Providence. 'We have a deep appreciation for and understanding of the business, especially given our long history of investing in entertainment and sports.'Jefferies, J.P. Morgan, and Moelis & Co. served as financial advisers to GCL. Harris Williams served as Providence's financial adviser. More FreightWaves articles by Todd Maiden: Truckload spot rates to continue upward trend, RXO says Activist investor pushes Forward Air to execute 'value-maximizing sale' FedEx taps leaders from within for LTL spinoff, to Wall Street's dismay The post 3PL focused on events, luxury goods changes private equity hands appeared first on FreightWaves.
Yahoo
21-05-2025
- Automotive
- Yahoo
GCL Announces ‘JDM: Japanese Drift Master' Worldwide Launch
SINGAPORE, May 21, 2025 (GLOBE NEWSWIRE) -- GCL Global Holdings Ltd. (NASDAQ: GCL) ('GCL' or the 'Company'), a leading provider of games and entertainment, today announced the highly anticipated launch of 'JDM: Japanese Drift Master' that is regionally published and distributed in Asia by GCL's game publishing subsidiary 4Divinity. After several years in active development by Polish development studio and publisher Gaming Factory, 'JDM: Japanese Drift Master,' is now available on Steam, GOG, and Epic Games Store for $34.99 USD — with a 15% launch discount available for the first two weeks to welcome all new drivers to the streets of Guntama, Japan. Explore the Soul of Japan Through a Manga Story Mode That Shifts Gears From buzzing city centers to remote mountain passes, 'JDM: Japanese Drift Master' invites players into an open world inspired by Japan's iconic scenery and underground racing culture. Cruise freely, participate in exciting driving events, or simply take in the view – every road tells a story. Featuring officially licensed cars from top Japanese automakers like Honda, Mazda, Nissan, and Subaru, each vehicle is modeled with stunning detail and different handling for a truly authentic ride. Experience the fictionalized world of Guntama through a narrative that blends fast-paced racing with emotional storytelling – all brought to life through fully illustrated manga panels. Rise through the ranks, meet unforgettable characters, and carve out your legacy in the underground drift scene. "Today marks an exciting milestone for Gaming Factory, our team at 4Divinity, and for fans of high-performance driving around the world. Built around one of the most comprehensive tuning systems in the genre, 'Japanese Drift Master' empowers players with unparalleled control over both performance and style—driving deep engagement and strong community retention,' said Sebastian Toke, Group CEO of GCL. 'With a robust post-launch roadmap featuring new content, cars, and ongoing feature updates, we're positioned to support sustained growth and long-term player investment. We're excited about the momentum this sets for the future, and we can't wait for you to see what's next." About GCL Global Holdings GCL Global Holdings Ltd. unites people through immersive games and entertainment experiences, enabling creators to deliver engaging content and fun gameplay experiences to gaming communities worldwide with a strategic focus on the rapidly expanding Asian gaming market. Drawing on a deep understanding of gaming trends and market dynamics, GCL Group leverages its diverse portfolio of digital and physical content to bridge cultures and audiences by introducing Asian-developed IP to a global audience across consoles, PCs, and streaming platforms. Learn more at About 4Divinity 4Divinity is a digital and retail games publishing company and a wholly owned subsidiary of GCL, focused on bringing exciting game content from around the world to Asia and introducing Asian content to a global market. Along with its sister company, Epicsoft Asia, 4Divinity is partnering with publishers and development studios to introduce brand-new IP to the region. About Gaming Factory Founded in 2017, Gaming Factory is a Polish game development studio and publisher dedicated to delivering engaging and innovative gaming experiences. As both a creator and distributor, the company focuses on crafting high-quality titles across various genres. Gaming Factory's flagship project, JDM: Japanese Drift Master, is an open-world drifting simulation that captures the spirit of Japanese car culture. With a passion for immersive gameplay and a commitment to excellence, Gaming Factory continues to expand its portfolio while bringing unique gaming experiences to gamers worldwide. Learn more at Forward-Looking Statements This press release includes 'forward-looking statements' made under the 'safe harbor' provisions of the U.S. Private Securities Litigation Reform Act of 1995, and may be identified by the use of words such as 'estimate,' 'plan,' 'project,' 'forecast,' 'intend,' 'will,' 'expect,' 'anticipate,' 'believe,' 'seek,' 'target' or other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements may also include, but are not limited to, statements regarding projections, estimates and forecasts of revenue and other financial and performance metrics, projections of market opportunity and expectations, the estimated implied enterprise value of the Company, GCL's ability to scale and grow its business, the advantages and expected growth of the Company, and the Company's ability to source and retain talent. These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of GCL's management and are not predictions of actual performance. These statements involve risks, uncertainties and other factors that may cause actual results, levels of activity, performance, or achievements to be materially different from those expressed or implied by these forward-looking statements. Although GCL believes that it has a reasonable basis for each forward-looking statement contained in this press release, GCL cautions you that these statements are based on a combination of facts and factors currently known and projections of the future, which are inherently uncertain. In addition, there are risks and uncertainties described in the proxy statement/prospectus included in the Registration Statement relating to the recent business combination, filed by the Company with the SEC on December 31, 2024 and other documents which will be filed by the Company from time to time with the SEC. These filings may identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. GCL cannot assure you that the forward-looking statements in this press release will prove to be accurate. There may be additional risks that GCL presently knows or that GCL currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In light of the significant uncertainties in these forward-looking statements, nothing in this press release should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results of such forward-looking statements will be achieved. The forward-looking statements in this press release represent the views of GCL as of the date of this press release. Subsequent events and developments may cause those views to change. However, while GCL may update these forward-looking statements in the future, there is no current intention to do so, except to the extent required by applicable law. You should, therefore, not rely on these forward-looking statements as representing the views of GCL as of any date subsequent to the date of this press release. Except as may be required by law, GCL does not undertake any duty to update these forward-looking statements. GCL Investor Relations:Crocker 652-7185 A photo accompanying this announcement is available at
Associated Press
21-05-2025
- Automotive
- Associated Press
GCL Announces ‘JDM: Japanese Drift Master' Worldwide Launch
SINGAPORE, May 21, 2025 (GLOBE NEWSWIRE) -- GCL Global Holdings Ltd. (NASDAQ: GCL) ('GCL' or the 'Company'), a leading provider of games and entertainment, today announced the highly anticipated launch of 'JDM: Japanese Drift Master' that is regionally published and distributed in Asia by GCL's game publishing subsidiary 4Divinity. After several years in active development by Polish development studio and publisher Gaming Factory, ' JDM: Japanese Drift Master,' is now available on Steam, GOG, and Epic Games Store for $34.99 USD — with a 15% launch discount available for the first two weeks to welcome all new drivers to the streets of Guntama, Japan. Explore the Soul of Japan Through a Manga Story Mode That Shifts Gears From buzzing city centers to remote mountain passes, 'JDM: Japanese Drift Master' invites players into an open world inspired by Japan's iconic scenery and underground racing culture. Cruise freely, participate in exciting driving events, or simply take in the view – every road tells a story. Featuring officially licensed cars from top Japanese automakers like Honda, Mazda, Nissan, and Subaru, each vehicle is modeled with stunning detail and different handling for a truly authentic ride. Experience the fictionalized world of Guntama through a narrative that blends fast-paced racing with emotional storytelling – all brought to life through fully illustrated manga panels. Rise through the ranks, meet unforgettable characters, and carve out your legacy in the underground drift scene. 'Today marks an exciting milestone for Gaming Factory, our team at 4Divinity, and for fans of high-performance driving around the world. Built around one of the most comprehensive tuning systems in the genre, 'Japanese Drift Master' empowers players with unparalleled control over both performance and style—driving deep engagement and strong community retention,' said Sebastian Toke, Group CEO of GCL. 'With a robust post-launch roadmap featuring new content, cars, and ongoing feature updates, we're positioned to support sustained growth and long-term player investment. We're excited about the momentum this sets for the future, and we can't wait for you to see what's next.' About GCL Global Holdings GCL Global Holdings Ltd. unites people through immersive games and entertainment experiences, enabling creators to deliver engaging content and fun gameplay experiences to gaming communities worldwide with a strategic focus on the rapidly expanding Asian gaming market. Drawing on a deep understanding of gaming trends and market dynamics, GCL Group leverages its diverse portfolio of digital and physical content to bridge cultures and audiences by introducing Asian-developed IP to a global audience across consoles, PCs, and streaming platforms. Learn more at About 4Divinity 4Divinity is a digital and retail games publishing company and a wholly owned subsidiary of GCL, focused on bringing exciting game content from around the world to Asia and introducing Asian content to a global market. Along with its sister company, Epicsoft Asia, 4Divinity is partnering with publishers and development studios to introduce brand-new IP to the region. About Gaming Factory Founded in 2017, Gaming Factory is a Polish game development studio and publisher dedicated to delivering engaging and innovative gaming experiences. As both a creator and distributor, the company focuses on crafting high-quality titles across various genres. Gaming Factory's flagship project, JDM: Japanese Drift Master, is an open-world drifting simulation that captures the spirit of Japanese car culture. With a passion for immersive gameplay and a commitment to excellence, Gaming Factory continues to expand its portfolio while bringing unique gaming experiences to gamers worldwide. Learn more at Forward-Looking Statements This press release includes 'forward-looking statements' made under the 'safe harbor' provisions of the U.S. Private Securities Litigation Reform Act of 1995, and may be identified by the use of words such as 'estimate,' 'plan,' 'project,' 'forecast,' 'intend,' 'will,' 'expect,' 'anticipate,' 'believe,' 'seek,' 'target' or other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements may also include, but are not limited to, statements regarding projections, estimates and forecasts of revenue and other financial and performance metrics, projections of market opportunity and expectations, the estimated implied enterprise value of the Company, GCL's ability to scale and grow its business, the advantages and expected growth of the Company, and the Company's ability to source and retain talent. These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of GCL's management and are not predictions of actual performance. These statements involve risks, uncertainties and other factors that may cause actual results, levels of activity, performance, or achievements to be materially different from those expressed or implied by these forward-looking statements. Although GCL believes that it has a reasonable basis for each forward-looking statement contained in this press release, GCL cautions you that these statements are based on a combination of facts and factors currently known and projections of the future, which are inherently uncertain. In addition, there are risks and uncertainties described in the proxy statement/prospectus included in the Registration Statement relating to the recent business combination, filed by the Company with the SEC on December 31, 2024 and other documents which will be filed by the Company from time to time with the SEC. These filings may identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. GCL cannot assure you that the forward-looking statements in this press release will prove to be accurate. There may be additional risks that GCL presently knows or that GCL currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In light of the significant uncertainties in these forward-looking statements, nothing in this press release should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results of such forward-looking statements will be achieved. The forward-looking statements in this press release represent the views of GCL as of the date of this press release. Subsequent events and developments may cause those views to change. However, while GCL may update these forward-looking statements in the future, there is no current intention to do so, except to the extent required by applicable law. You should, therefore, not rely on these forward-looking statements as representing the views of GCL as of any date subsequent to the date of this press release. Except as may be required by law, GCL does not undertake any duty to update these forward-looking statements. GCL Investor Relations: Crocker Coulson A photo accompanying this announcement is available at
Business Wire
21-05-2025
- Business
- Business Wire
GCL Announces Strategic Controlling Investment from Providence Equity Partners
NEW YORK--(BUSINESS WIRE)--GCL (the 'Company'), a global leader in live events and luxury goods specialty logistics, today announced a strategic investment from Providence Equity Partners, L.L.C ('Providence'), a premier private equity firm with significant experience investing in and supporting the growth of companies in the entertainment and media sectors. Providence will become the majority shareholder of GCL, and ATL Partners, the current majority owner, will retain a minority equity stake in the Company. GCL will continue to be led by President and CEO Daniel Rosenthal, with global headquarters in New York. Financial terms of the transaction were not disclosed, and the transaction is subject to customary closing conditions. Founded in 1978, GCL is the world's premier mission-critical logistics provider in its sectors, operating in the service-sensitive live events and luxury goods end markets through a roster of brands including Rock-it Cargo, DIETL, and CARS. Completing more than 10,000 projects per year in over 160 countries, GCL enables some of the world's most iconic moments including coveted live music tours, global mega-events and tournaments, sports broadcasting, film and television production, and experiential events. As an example of its capabilities, Rock-it Cargo recently entered into a multi-year partnership as the Official Logistics Provider of the FIFA World Cup 2026 and the new FIFA Club World Cup starting next month. GCL also is the most trusted global partner in transporting, storing, and protecting its customers' most prized possessions, from storied fine art collections at auction houses, galleries, museums, and art fairs, to luxury vehicles used in car shows, rallies, or on tracks around the world. 'GCL is a very special company supported by an incredible family of employees, customers and partners across its global network. Providence's commitment validates our customer focus and growth strategy and will expand our capabilities further in the years ahead,' said Daniel Rosenthal, GCL President and CEO. 'The Providence team's proven track record and depth of relationships in our end markets make them the ideal partner for the next chapter of serving our customers. I'm also extremely grateful to the team at ATL Partners for their deep passion to propel our growth strategy. Under ATL's active stewardship during the last seven years, GCL has successfully expanded into several adjacent verticals and is the clear market leader in live events and luxury goods logistics.' 'For nearly 50 years, GCL has earned the trust of the world's biggest names in the live events sector and established a leading position in all of the end markets it serves,' said Scott Marimow, Managing Director at Providence. 'We have a deep appreciation for and understanding of the business, especially given our long history of investing in entertainment and sports. We look forward to partnering with Dan and the entire GCL team to help capitalize on organic and inorganic growth opportunities ahead.' Providence has nearly three decades of experience investing in and creating lasting value at a wide range of companies in the live event space. Current and previous live events- and sports-related investments include Ambassador Theatre Group, Learfield, Major League Soccer, PADI, Populous, Real Madrid, Superstruct, Sweetwater, TAIT, Topgolf, Yankees Entertainment and Sports Network, Wasserman and World Triathlon Corporation (Ironman). Sanjay Arora, a Partner at ATL Partners, added, 'Since ATL invested in GCL in 2018, GCL has transformed itself into a premier business focused on the high growth live event and luxury goods markets. Dan and his management team have positioned the company well for its next phase of growth by expanding into new verticals, adding operational capabilities, and executing strategic acquisitions. We look forward to supporting the next step in GCL's journey alongside Providence and the GCL management team.' Jefferies LLC, J.P. Morgan Securities LLC and Moelis & Company LLC served as financial advisors and Gibson, Dunn & Crutcher LLP served as legal advisor to the Company. Harris Williams served as financial advisor and Kirkland & Ellis LLP served as legal advisor to Providence. About GCL GCL (Global Critical Logistics) is the market leader in two expansive logistics and project management sectors across the globe: live events, encompassing live music, sports and broadcasting, film and TV, and experiential events and exhibitions; and luxury goods, focused on fine art, automotive, and fashion. The company, which began in 1978 serving Led Zeppelin and Uriah Heep, operates a global network across a range of verticals through a platform of brands including Rock-it Cargo, DIETL, CARS, SOS Global, and Dynamic International. GCL's global team of experts manages bespoke global logistics through end-to-end services including multimodal freight, event logistics planning, warehousing and storage, customs brokerage, risk mitigation, and insurance. This service delivery leverages an unparalleled global network with 60+ offices and projects in more than 160 countries. GCL is the chosen provider for reliability and efficiency where failure is not an option for a customer's most prized events and possessions. About Providence Equity Partners Providence Equity Partners is a specialist private equity investment firm focused on growth-oriented media, communications, education and technology companies across North America and Europe. Providence combines its partnership approach to investing with deep industry expertise to help management teams build exceptional businesses and generate attractive returns. Since its founding in 1989, Providence has invested over $40 billion across more than 180 private equity portfolio companies. With its headquarters in Providence, RI, the firm also has offices in New York, London, Boston and Atlanta. For more information, please visit About ATL Partners Founded in 2014, ATL Partners is a premier sector-focused private equity firm that invests in commercial aerospace, national security, and transportation & logistics companies. ATL brings deep sector expertise to its investment approach with experienced investment professionals and strong operating executives who have decades of combined experience in each of ATL's core sectors. For more information about ATL Partners, visit
