Pinnacle chief: We will re-enter the UK and launch B2B

Pinnacle Sports has set-off on an “ambitious” regulated growth strategy and is targeting a return to the UK market and a B2B launch, the operator’s chief executive Paris Smith has told eGaming Review.

The new strategic direction comes after the Curacao-based firm earlier this month announced it was under new ownership following a deal agreed in August while the bookmaker has also obtained an operating licence from the Maltese regulator, which the chief executive said showed “proof of intent”.

According to Smith, the firm is focused on a return to the UK market after having been forced to withdraw last year following changes made to the regulatory framework.

“We have made no secret of our intention to re-enter the UK market,” Paris told eGR. “The UK represents a potential core market for Pinnacle Sports, even in the context of changes in gambling regulation and taxation.

“The consolidation of the remaining bookmakers operating in the UK is likely to lead to less choice and poorer value, which clearly isn’t a positive change for bettors,” she added.

Going B2B

Smith said a return to the UK, or entry into any other regulated market, was not conditional on it having to withdraw from other territories but said the firm was preparing to launch a B2B service in order to gain entry to some markets.

“Where circumstances permit we will consider the licensing option for accessing new regulated markets, but if it is more appropriate, we are equally focused on achieving growth through a B2B approach,” Smith said.

“Following increasing requests from some market stakeholders we are looking at diversifying our activity by launching a B2B offering in the coming months,” she added.

Smith said the six months between the new owners taking the reins and the announcement of the deal was because the firm wanted to make some strategic headway before informing the market.

“The new owners have a very clear and ambitious strategic vision, which includes expansion into regulated markets,” Paris said.

“We felt it would reinforce that message if delivered with substantive proof of the intent [and] this comes from the award of a Class II Remote Gaming Licence by the Malta Gaming Authority,” she added.

New ownership

The identities of the new owners remain unknown and Smith made clear the private company was under no obligation to release such information but said they were a “fantastic match” for Pinnacle.

“It sometimes pays to keep competitors guessing,” she added.

Smith also revealed the firm plans to ramp-up its in-play betting capability, starting with tennis and basketball, while the website would start to take on a new look through the roll-out of improvements over the coming weeks and months.

However, despite the investment in product and higher costs as a result of increased compliance and taxation requirements, Smith said Pinnacle wouldn’t compromise on the tight margins it offers customers.

“Our customers can rest assured that the fundamental principles that make the brand so unique – such as the unbeatable value of our odds and welcoming winners – will not be compromised,” she said.