Due Diligence

Due diligence in iGaming has unusually heavy regulatory and reputational components. In M&A, regulator approval is often required for change of control, which means due diligence has to surface anything that could complicate licensing transitions. In supplier onboarding, the operator is accountable for whose technology and content they use, so KYB processes on suppliers can run for weeks. In partnership and affiliate diligence, the operator is exposed to whatever the partner is doing in their name. Specific iGaming diligence areas include grey-market revenue treatment (whether the target generates revenue from jurisdictions that could compromise listing or banking relationships), AML control adequacy, license breach history, key-person assessments, technology stack and dependencies, and content rights. Banking relationships and acquirer status add another diligence layer because losing acquirers or banking can be existential. Listed-company diligence work has set the standard that increasingly applies to private market transactions as well.