Regulatory readiness for investment, acquisitions and exits
In a licensed business, the license is often the most valuable asset and the easiest one to damage in a deal. We run the regulatory side of fundraising, acquisitions and sales, from due diligence to the regulator notifications a change of control requires.
The regulatory side of the deal
Regulatory due diligence
License status and validity, reporting history, compliance breaches, technical integrations and fit-and-proper checks on owners.
License transfer planning
How the license survives the transaction: share deal or asset deal, regulator approvals and notifications, timeline.
Compliance gap analysis
What a buyer or investor will find, and what to fix before the data room opens.
Positioning for fundraising
Regulatory story, structure and documents that make the business investable.
Change-of-control notifications
Ownership changes notified to the regulator within its deadlines, in Romania within 5 days for offline changes.
Confidential matching
Introductions between buyers and sellers of licensed companies, handled discreetly.
What we check in a licensed target
- License type, scope of activity, validity and renewal date
- Annual fees paid and compliance documentation filed
- Monthly reporting history and any regulator findings
- Technical certifications and integrations with operators
- Ownership chain to natural persons; source of funds and source of wealth
- Contracts with operators and suppliers, including licensing status of counterparties
- AML/KYC and responsible gambling frameworks in practice
- Bank and PSP relationships and their change-of-control terms
Licensed businesses change hands
Regulated markets reward licensed, compliant companies, and buyers increasingly acquire rather than apply. In Romania, Evoke plc acquired the Winner.ro brand in 2024 for a reported €10 million to strengthen its local presence.
For buyers, an acquisition can be faster than a new application. For sellers, a clean compliance record and organized documents decide both price and timeline.
In most regulated markets the license itself cannot be transferred, so deals are structured as a purchase of the licensed company rather than its assets. New qualifying shareholders and directors must then be notified to or approved by the regulator, sometimes before closing, and the same fit-and-proper checks apply to them as to a new applicant.
In markets where no application window is open, such as Italy and Spain, buying a licensed company is often the only realistic way in. We run the regulatory due diligence on the license, its conditions, reporting history, tax position and open proceedings, and plan the notifications so that banks, payment providers and suppliers stay in place after closing.
Jurisdictions covered
We combine this service with licenses in these jurisdictions, and with the other 36 we cover on request.
B2B suppliers to EU-regulated markets
MaltaLicensing openEstablished EU-facing B2C and B2B
CuraçaoLicensing openEstablished offshore operators
AnjouanLicensing openFast B2C or B2B market entry
NevisLicensing openHolding structures and an alternative offshore license
KahnawakeLicensing openNorth America-facing international operators
Frequently asked questions
Can a gambling license be transferred to a buyer?
In most regimes the license stays with the licensed company and cannot simply be assigned. A share sale changes control of that company and must be notified to, or approved by, the regulator. We plan this before signing.
Is buying a licensed company faster than applying?
Often, yes, if the target is in good standing. The buyer still passes the regulator’s fit-and-proper review, so we check that early.
How do you keep a sale confidential?
Mandates are handled one-to-one with named contacts. Buyers receive information in stages, after signing a non-disclosure agreement.
Protect the license through the deal.
Answer a few questions and get your roadmap. Our team replies within 24 hours.