Recent news on well-known bookmaker Pinnacle giving up on all hopes of acquiring a UKGC license was made public through their official Twitter account and a dedicated Facebook group. Pinnacle is one of the oldest and most popular players in the online sportsbook industry. 2015 was the year that marked a significant change in Pinnacle's management and that drove a swift in the bookmaker's strategy and vision for the future. As company executives had announced, the brand intends to focus on maximizing growth primarily within regulated European countries.
The plan for Pinnacle back in March 2015 was to get a Malta Gaming Authority MGA2 license that would enable them to provide their sportsbook products in European Union members countries. The license application was approved and the next step that was announced on behalf of the company was to go for a UKGC license in order to release a sportsbook for the UK market as well, planned back in 2017. The application was successfully filed but Pinacle saw with great disappointment the process being extensively delayed due to thorough and repeated investigations by the Commission.
The release of "Pinnacle Solution", their new B2B sportsbook platform, was also made public last week. With the release of their new product the bookmaker intends to take advantage of their proprietary technology and experience in low-margin trading to reach new clients. As a result, emphasis is expected to be put on "Pinnacle Solution" for all regulated countries.