IGaming M&A

In iGaming, mergers and acquisitions (M&A) are often hinged on licensing. Acquiring a company that already holds the necessary approvals can fast-track your market entry and give you a major edge in regulated jurisdictions. Still, deals don’t always go by the book. Here’s what really happens behind the scenes, and why licensing, compliance, and timing can make or break M&A in the online gambling industry.

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Features of M&A

Let’s first break down what Mergers and Acquisitions mean. Mergers and Acquisitions are business deals between companies:

  • Mergers: Two companies join together and become one new company. Leadership is usually shared, and both sides often give up some control. 
  • Acquisitions: One company buys another company and takes control of it. In that case, the company that gets bought usually stops existing on its own and becomes part of the buyer's business.

This is a key tool for scaling, diversification, and entering into new markets. These deals usually happen because companies want to grow faster, operate more efficiently, or get access to new markets or technologies. 

The iGaming space is a fast-moving and highly regulated environment, with each jurisdiction changing from year to year, evolving and becoming more complex. This is one  of the biggest challenges in buying or merging online gaming companies. 

In addition to that, merging technology is tough. When two gaming companies join, they need to combine their tech, like systems for managing players, handling payments, and reporting to regulators. These systems must work together smoothly, follow local laws, and keep data secure.

Unlike many traditional industries, compliance, payment processing, and affiliate relationships can make or break a deal, especially when we're talking about selling a business. That’s what differentiates an M&A in iGaming from similar nature deals in other industries.

Key Advantages of M&A

M&A deals are more and more in the online gambling industry: more companies want to scale their business, and more founders plan exits and pivot to avoid burnout or set a new project they would like to take on. One way or another, there are several advantages of mergers and acquisitions in the industry:

Cash Out Before The Compliance Gets Harder

An M&A gives many owners of online gambling businesses simply to cash out before compliance in the jurisdiction they are operating in becomes more difficult or costly.

Get Access to Better Technologies

Some companies already have cutting-edge tech like mobile games, AI features, or blockchain systems. Buying them means you don’t have to build it yourself.

Enter New Markets Faster

Many jurisdictions only allow online gambling if operators have a local license. By buying a company that already works there, you can start operating right away instead of waiting for approval.

Economies of Scale

Larger companies can cut costs by sharing resources because they have offices, staff, and systems, and they don’t need to buy it from scratch. This helps them spend less and grow smarter and faster.

Our Legal Services


Buying, selling, or merging an iGaming business means dealing with tricky regulations and high stakes. We at MGL have been through it ourselves, and we help clients get deals done right, without surprises.

With years of experience in iGaming and over 500 consultations behind, our team knows what regulators expect and where deals tend to run into trouble. So whether you’re entering a new market, cleaning up your structure, or planning your next move, we focus on protecting what matters to you. From the initial consultation to post-deal integration, we are with you every step of the way.

Avoiding M&A Pitfalls

Even well-planned iGaming acquisitions can quickly run into trouble. Between complex regulations, fragile tech stacks, and operations spread across multiple countries, there are plenty of ways to trip up. Miss a key detail, and you could lose licenses, face fines, or spend months fixing avoidable integration messes.

Here are three biggest pitfalls:

Assuming Licenses Just Come With The Deal

Buying an iGaming company doesn’t mean you automatically inherit its licenses. Many regulators require formal approval for ownership changes, and some licenses can’t be transferred at all. That means you might close the deal, and suddenly be locked out of a major market. 

Conducting Thorough Due Diligence

A surface-level review simply isn’t enough. Unresolved player complaints, past regulatory fines, or gaps in anti-money laundering controls can surface months later, and can significantly impact value and compliance.

Inadequate due diligence can sink a deal, even if regulations aren’t an issue. If buyers don’t do a deep enough check, hidden problems can pop up later and hurt the deal’s value. For example, in 2015, 84% of big mergers over $100 million involving Delaware companies were challenged by shareholders, often because key issues were missed during due diligence.

Tech Integration Takes Real Planning

Integrating iGaming platforms is rarely seamless. Moving player accounts, transaction records, or payment systems across borders must comply with local laws, including data privacy rules and gaming-specific technical standards. A misstep can mean fines, service outages, or failed audits.

And if key technical staff from the acquired business depart post-closing, maintaining or enhancing the platform can become extremely difficult.

iGaming M&A Consulting

Navigating the gaming license process can be complex. Here’s a streamlined guide to each step with our experts.

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30 Minutes

All we need from you to kickstart the process.

1-3 Days

Fast company formation so you can start using your business immediately.

1000+

Apps built on Enoki

1000+

Apps built on Enoki

1000+

Apps built on Enoki

1. Efficiency

1 Form: Just one form to fill out—we handle everything else.
30 Minutes: All we need from you to kickstart the process.
1-3 Days: Fast company formation so you can start using your business immediately.
6-7 Weeks: Get your casino licensed.


2. Real-Time Communication

1 Hour: Average response time for quick and seamless support.
Connect Anytime, Anywhere: Stay connected via WhatsApp, Telegram, Skype, email, or your preferred platform.

3. Transparency

Clear Pricing: All costs are stated upfront in every offer and engagement letter.
Detailed Cost Breakdown: Full understanding of what you’re paying for, with every detail explained.

4. Industry Expertise

Extensive Licensing Experience: Work directly with seasoned licensing experts who have years of success in the iGaming industry.
Practical iGaming insights: Leverage our expertise in navigating real-world challenges for online casinos, extending beyond standard compliance

5. Problem Solvers

9 out of 10 Challenges Solved:
Consulting-Driven approach:
Led by an ex-McKinsey consultant, our team applies a strategic approach to tackle even the most complex issues
We Find the Answers: No matter the question or challenge, we leverage our expertise and connections to find the right answers
Ongoing Support: We are committed to building lasting relationships, providing ongoing support to ensure your long-term success

1 form
Just one form to fill out — we handle everything else.
30 Minutes
All we need from you to kickstart the process.
1-3 Days
Fast company formation so you can start using your business immediately.
6-7 Weeks
Get your casino licensed.

1 Hour
Average response time for quick and seamless support.
Connect Anytime, Anywhere
Stay connected via WhatsApp, Telegram, Skype, email, or your preferred platform.
Clear
Pricing
All costs are stated upfront in every offer and engagement letter.
Detailed Cost Breakdown
Full understanding of what you’re paying for, with every detail explained.
Extensive Licensing Experience
Work directly with seasoned licensing experts who have years of success in the iGaming industry.
Practical iGaming insights
Leverage our expertise in navigating real-world challenges for online casinos, extending beyond standard compliance
9 out of 10 Challenges Solved
All costs are stated upfront in every offer and engagement letter.
Consulting-Driven approach
Led by an ex-McKinsey consultant, our team applies a strategic approach to tackle even the most complex issues
We Find the Answers
No matter the question or challenge, we leverage our expertise and connections to find the right answers
Ongoing Support
We are committed to building lasting relationships, providing ongoing support to ensure your long-term success

FAQ about M&A

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What are the key factors to consider when acquiring an iGaming business?

There are many things that impact the time required to sell the online gambling business. One of the biggest is valuation. Sellers who are emotionally attached often set prices above that the market will bear, which can stall the process for months, or even years. Another major factor is how well your business fits today’s iGaming landscape. The industry changes fast: license reputations change, player preferences shift, and game trends evolve. If your model feels outdated, buyers will hesitate, making the deal harder and slower to close.

What is M&A in gaming?

M&A, or Mergers and Acquisitions, describes transactions where companies consolidate,  when companies buy, sell, or join together. In gaming, that could mean one company buying a game studio, a publisher, or even just the rights to a popular game.

The primary goal is typically to achieve strategic growth, acquire successful intellectual property, gain access to new distribution platforms, or eliminate competition. 

What is iGaming M&A and how does it work?

iGaming M&A is all about the business of buying, selling, or merging companies in the online gambling world, such as online casinos, sportsbooks, or the studios that make the games. It works like other M&A deals: a buyer evaluates a target company, conducts legal and technical due diligence, negotiates terms, and integrates the business post-deal, while navigating strict gambling restrictions across different countries.  

Why are mergers and acquisitions common in the iGaming industry?

Mergers and acquisitions are common in iGaming because companies use them to quickly enter regulated markets, acquire valuable licenses or technology, scale operations, diversify game offerings, and stay competitive in a fast-moving, highly regulated industry.

Can small iGaming startups compete in M&A deals with larger companies?

They generally don’t compete to buy, but they compete to be bought. By positioning themselves as appealing acquisition targets, they secure high valuations through proprietary tech, clean regulatory status in key markets, and a strong foothold in high-potential niches like live casino or regional specialties. For large corporations, acquiring a well-run, compliant business with clear growth potential is frequently faster, safer, and more valuable than building something similar from scratch.

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