How Long Does it Take to Sell a Business?

The short answer

Our median time from a signed mandate to closing is 90 days. The fastest deal we have closed took 13 days. Since 2021 we have taken more than 110 mandates and closed 52 transactions, and those figures come from that history rather than from general small-business data.

The spread between 13 days and several months comes down to three things: what kind of asset it is, how ready the seller is, and whether a regulator has to approve the new owner. A clean affiliate site with organised data and a realistic price can move very quickly. A licensed operator sold as a share deal moves at the regulator’s pace, whatever the buyer and seller want.

Stage by stage

Every sale runs through the same five stages. The durations below are typical ranges for a straightforward process, not guarantees, and they overlap in practice.

The stage that varies most is the second one. Some assets attract an LOI within days because a buyer in our network is already looking for exactly that profile. Others need several rounds of outreach. Stages four and five are where good preparation shows: a seller with a ready data room can cut weeks off diligence.

How asset type changes the timeline

The type of asset sets the floor on how fast a deal can go, because it decides how much has to be checked and who else has to agree.

Affiliate sites and portfolios. Usually the quickest. The deal is an asset sale with no licence, the buyer pool is broad, and diligence centres on traffic, rankings and programme payouts. The main delays are traffic drops during the sale and affiliate programmes that will not transfer accounts.

White-label casinos and sportsbooks. Medium speed. The white-label provider has to approve the new owner, and that approval sits outside the buyer’s and seller’s control. Raise it with the provider before marketing starts, not after the LOI.

Licensed operators. The slowest, because a share deal normally needs the regulator to approve the new owners, with fit-and-proper and source-of-funds checks. The parties can sign the purchase agreement early and complete once approval arrives, but the money usually moves only at completion. Approval timelines vary by regulator and change over time, so check the current position before setting a closing date.

Platforms, source code and B2B suppliers. Speed depends on the buyer. A strategic acquirer that already runs similar technology can move quickly; a buyer that needs a full technical review of the code, its IP chain and its certifications will take longer. Supplier certifications in regulated markets may also need updating after a change of control.

What slows a sale down

Most delays are predictable, which means most can be avoided.

• An asking price the numbers do not support. Buyers who think the price is too high rarely make an offer. Waiting for them to change their mind is the longest delay of all.
• Figures that do not reconcile. If the P&L, the platform reports and the bank statements disagree, diligence stops until someone explains the gap.
• A drop in performance during the sale. A Google update, a lost PSP or a few departing VIPs mid-process lead to renegotiation, and renegotiation takes time.
• Third parties that were not asked early. White-label providers, PSPs, game providers and affiliate programmes all have their own approval processes. Finding out after the LOI that one of them will not cooperate can restart the deal.
• Complex structures. Earnouts, seller financing and partial sales take longer to negotiate and draft than an all-cash price.
• Slow answers. Every day a buyer waits for a document is a day it can spend looking at another asset.
• Regulatory approval. On licensed share deals this cannot be hurried, so plan the timetable around it from the start.
• Running the business less closely. Sellers who step back during the sale often see the numbers slip, which brings the first point back into play.

How to sell faster without selling cheaper

Speed and price are usually traded against each other. These steps improve both, because they remove the reasons buyers hesitate.

1. Get a valuation before setting the price. A range based on normalised earnings and the right multiple brings serious offers faster than an aspirational number. Our valuation service shows the method and adjustments, so buyers can see how the figure was reached.
2. Build the data room before marketing. Monthly GGR/NGR, platform exports, PSP and bank statements, traffic data, licence documents and key contracts, organised by topic and reconciled. Our due diligence checklist lists what to include.
3. Ask the third parties first. Get written confirmation from your white-label provider, PSPs and affiliate programmes on how they handle a change of owner.
4. Pick the structure early. Decide whether it is an asset or a share deal, and whether you will accept an earnout, before the teaser goes out. Buyers then bid on the same basis.
5. Keep running the business. Strong numbers during the sale are the best protection against renegotiation.
6. Name one decision-maker and answer within 48 hours. Momentum keeps buyers engaged.
7. Market to the right buyers directly. A targeted approach to buyers already looking for your asset type is faster than a public listing that attracts browsers. We reach a network of more than 1,000 qualified buyers this way, and new listings go to newsletter subscribers 48 hours before they are published.

FAQ

How long does it take to sell an online casino? Our median from signed mandate to closing is 90 days across all asset types. Licensed operators sold as share deals usually take longer, because the regulator has to approve the new owners.

How long does it take to sell an affiliate site? Affiliate sites are often the fastest assets to sell, because there is no licence to transfer and diligence focuses on traffic and revenue. With organised data and a realistic price, a few weeks is achievable.

What is the fastest an iGaming business can be sold? Our fastest closing took 13 days from signed mandate. That needs a buyer already looking for the asset, a ready data room, and a structure with no regulatory approval.

Does the licence slow down the sale? It can. In a share deal, most regulators must approve the new owners, and that timeline is outside the parties’ control. In an asset deal the licence does not transfer, so the buyer needs its own licence or a white-label arrangement.

Should I stop marketing once I accept an offer? If you sign an LOI with exclusivity, yes, for the exclusivity period. Without exclusivity, keeping other buyers warm protects you if the first buyer drops out during diligence.

Is there a best time of year to sell? The right time is when the last 12 months look strong and the trend is stable or rising. For sportsbooks, buyers will look closely at how results move around major tournaments, so time the sale so the trailing figures are not distorted by one exceptional event.

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