What a licence is

A licence is permission from a regulator to offer games in a jurisdiction, under that regulator's rules. It says who is responsible, where a complaint can go, and which rules on funds, fairness and advertising apply.

What it guarantees

That the operator can be held to those rules by someone with the power to fine or close it. Segregated player funds, tested game fairness and a dispute route exist because a licence requires them, not because the operator is generous.

What it does not guarantee

That the operator pays quickly, treats bonus terms fairly, or answers support tickets. Those are choices, and they differ between operators holding the very same licence. A licence sets the floor; the review measures what is built on it.