Platform providers, aggregators and B2B suppliers with contracted operator clients. These price highest of any category on the marketplace because the revenue is contracted and there is no player liability sitting on the balance sheet.
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The value here is the client book and the switching cost. A platform with twenty operators on multi year contracts and deep integrations is worth far more than one with the same revenue spread across month to month clients who could migrate in a weekend. Read the contracts for termination rights on change of control, check client concentration, and find out how much of the codebase depends on one or two engineers who may leave at completion.
A buyer account is free and there is no buyer commission. Requesting details needs proof of funds and a one-time refundable deposit of $50,000, credited against the sale you complete or returned in full. Funds move through escrow held by IGA Group Ltd, released only after the inspection period passes. See the buyer guide for the full terms.
Usually 3.8x to 5.5x trailing EBITDA, above B2C because revenue is contracted, churn is lower and there is no player liability.
Often a B2B supplier license rather than an operator license, depending on jurisdiction. Malta, the Isle of Man and Romania all license suppliers separately.
Client concentration, contract termination rights on change of control, integration depth with each operator, and key person dependency in engineering.