A Malta gaming license acquisition is not automatically faster than a new MGA application, because a change of ownership triggers the same fit-and-proper due diligence as a fresh applicant. Moreover, additional aspects have to be considered, which also require time and resources. EM Group recommends comparing realistic timelines for your own plans before choosing a route.
An MGA license cannot be bought and handed to a new owner outright. When a buyer acquires a Malta company that already holds an MGA license, the change in ownership itself becomes a regulatory event. The incoming owners undergo the same fit-and-proper due diligence as a fresh applicant, and the company’s full regulatory, corporate, and financial history comes along with the deal. Two routes exist for entering Malta’s regulated gaming market: a Malta gaming license acquisition or an application for a new MGA license. The faster one is rarely the one it appears to be.
What is the biggest misconception about buying an MGA license?
An existing license does not mean instant market entry. An MGA license cannot simply be handed from one owner to another. A change of ownership or control requires regulatory scrutiny, and the buyer inherits the target company’s corporate and regulatory history. In some cases, the acquisition process takes as long as, or longer than, a new licensing application.
What happens when you buy an MGA-licensed company?
The buyer acquires the shares of a Malta company that already holds an MGA license, not the license itself. That distinction drives everything else. The transaction typically triggers a change-of-control application, due diligence on the incoming ultimate beneficial owners (UBOs) and shareholders, and a source of wealth and source of funds review. The MGA also reassesses the existing licensee: its compliance history, its directors and key persons, and whether its business plan and technical setup still match what is being proposed. The buyer is not simply purchasing a license. They are acquiring a regulated company, and everything that comes with it.
The buyer is not simply purchasing a license. They are acquiring a regulated company.
What does a new MGA application involve?
The alternative route starts clean. An operator incorporates a Malta company, builds its corporate structure, and prepares the MGA application from scratch: business plan, technical architecture, compliance framework, and key persons, all built around the operator’s own model. Once the application clears regulatory and technical review, the license is issued and the operator activates its own infrastructure. There is no inherited history to reconcile — the company’s regulatory record starts the day the license is granted.
| Existing Licensed Company | New Company + MGA License |
|---|---|
| Existing company, existing history | New incorporation, clean start |
| MGA license already exists | New application required |
| Change-of-control approval required | Not applicable |
| Due diligence on incoming owners | Due diligence on applicants and UBOs |
| Regulatory history must be reviewed | Starts fresh |
| Historical liabilities potentially inherited | None from prior operations |
| Business model may need adjusting to fit | Built around the operator’s business |
| Timeline depends on the seller and the MGA’s review | More predictable once prepared properly |
| Banking/payment relationships may not transfer | Established from scratch |
| Control over structure often limited by what exists | Full control from the outset |
Why doesn’t an existing license guarantee faster market entry?
Because the license already exists does not mean the regulator’s work is done. The MGA still needs to be comfortable with who is taking control of the licensee, and that assessment is not a formality. According to the MGA’s 2025 Annual Report, the Authority carried out 1,266 due diligence screening checks that year on authorized persons, controllers, directors, and key persons, and its Fit and Proper Committee found that the criteria were not met in seven of the cases it reviewed. A licensed company changing hands goes through a comparable process to a new applicant.
There is a second, less obvious cost. A company that looks attractive because it already holds a license may also carry outdated corporate documents, directors who no longer fit the buyer’s structure, or technical arrangements that do not match the incoming operator’s model. Bringing the company into alignment with the new business takes time, and that work often erodes the time advantage the acquisition was supposed to offer.
What history are you actually buying?
A new company gives an operator a clean starting point. With an acquisition, the buyer inherits what happened before they arrived: the target’s regulatory record with the MGA, including any prior correspondence, enforcement matters, or outstanding license conditions; its corporate history, from previous UBOs and directors to past share transfers; and its financial and operational history, covering accounts, tax position, and existing relationships with banks, payment service providers (PSPs), and suppliers. A license may be valuable. A clean license is considerably more valuable, and confirming which one is on offer is usually the first job in any acquisition review.
A license may be valuable. A clean license is considerably more valuable.
When does acquiring an existing license make sense?
This is not a case against acquisitions. There are legitimate reasons to buy rather than build. If the target already has functioning technical infrastructure, established payment relationships, and experienced personnel in place, an acquisition can deliver value a new application cannot replicate quickly. A licensee with a genuinely strong regulatory track record is also a reasonable basis for a deal.
In other cases, the license is only one part of what is being acquired — the buyer may be after the technology, the brand, the customer base, or the team, with the license simply attached to all of it. In those situations, the acquisition is the right structure, and the license is a component of a larger commercial decision rather than the reason for the deal.
Does a new license actually cost less?
The comparison people reach for — application fees against a purchase price — misses most of the real cost. A new license involves incorporation, corporate services, the MGA application itself, legal and compliance preparation, and banking setup. An acquisition involves the purchase price plus legal, financial, and regulatory due diligence, the change-of-control process, and, often, remediation of whatever the due diligence turns up. Once both sides are counted in full, an existing license is not automatically the cheaper option.
| Question | Recommendation |
|---|---|
| Do you need to acquire existing infrastructure, a team, or a customer base? | Acquisition may be worth exploring |
| Does the target have a clean regulatory history? | Acquisition may be worth exploring |
| Is your primary goal simply to obtain an MGA license? | A new application is usually more direct |
| Do you want full control over structure from day one? | A new application is recommended |
| Is speed the main consideration? | Actual timelines and complexities must be considered, rather than assuming the acquisition is faster |
“Operators often come to us assuming an acquisition is the shortcut,” says Julie Courte, Business Development Manager at EM Group. “In practice, I have seen acquisitions take just as long — and sometimes longer — than starting a new application, especially when we are dealing with a complex, established license holder. There can be a lot to work through, from due diligence on the existing and new owners to the MGA process and share transfer. An acquisition can make perfect sense if you are also gaining a customer base or an experienced team, but if the main goal is simply to get an MGA license quickly, it is not always the faster route.”
Who can guide you through a Malta license?
Setting up or restructuring in a foreign jurisdiction takes local know-how. Since 2005, EM Group has guided international operators through it, from new license applications to post-acquisition restructuring, in Malta and other key jurisdictions. Our Sliema office combines Dutch roots and an international outlook with Maltese colleagues who know the local landscape inside out.
FAQ
MGA License Acquisition – Frequently Asked Questions
01Can an MGA license be transferred to a new owner?
Not directly. A change of ownership or control requires Malta Gaming Authority (MGA)’s prior approval and due diligence on the incoming owners, and the license itself stays with the licensee company.
02How long does an MGA change-of-control approval take?
It depends on the complexity of the buyer’s structure and the target’s regulatory history, which is why the timeline is often less predictable than a new application prepared from the outset.
03What is “fit and proper” due diligence in Malta?
It is the MGA’s assessment of whether controllers, directors, and key persons meet its integrity and competence standards, applied to new applicants and incoming owners of existing licensees alike.
04Does a new MGA application guarantee a faster launch than an acquisition?
Not automatically, but its timeline can generally be planned around a defined application project, while an acquisition adds a variable the operator does not control: the seller, the target’s history, and the MGA’s review of the ownership change.
Which route is right for your business?
The appeal of an existing MGA-licensed company is easy to understand. On paper, it appears to remove the most time-consuming part of entering Malta’s regulated gaming market. In practice, acquiring a licensed company is itself a regulatory transaction: the incoming owners face due diligence, the change of control requires approval, and the target company’s history comes under scrutiny.
For some strategic acquisitions, that trade-off makes sense. For an operator whose primary goal is simply to establish a Malta-based gaming business, starting with a new company and a new MGA license is often the more direct, transparent, and predictable route. The right question is not which option comes with an existing license; it is which route gets your business operational in Malta most efficiently, with the least regulatory and historical risk. Every situation is different, so at EM Group we always recommend looking at both routes based on your specific plans. If you are considering an MGA license, contact our team for a conversation about which option is right for you.
Still have questions?
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EM Group supports iGaming operators with licensing, compliance and corporate services across all major jurisdictions.
Sources
- Malta Gaming Authority, Annual Report 2025 (published July 2026), p. 44
- Malta Gaming Authority, The MGA publishes its 2025 Annual Report and Financial Statements (July 2026)
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