The online sports betting operator Pinnacle has announced that it had shelved plans for getting back to the regulated iGaming market of the UK. The announcement was made through the official Twitter channel of the company.
The bookmaker, which offers web-based sports betting services, revealed that it decided to withdraw its license application to the UK Gambling Commission (UKGC). The operator shared that despite the fact that it remained willing to serve the UK betting market, it believed that the decision for its license application withdrawal had been made at the right time.
For some time now, the UK license application of Pinnacle had been pending on the website of the major regulatory body of the UK, with no specific reason for the delay being provided yet. Previously, the company had expressed its willingness to launch a UK-facing website in 2017, but not it seems that the operator did not really expect local regulators to provide it with official permission to offer its services in the country anytime soon.
At the time when Pinnacle announced its decision on Twitter, the company revealed that it was aware of the fact that it may leave some local customers disappointed, but still assured players that it would remain committed to offering its products in the UK market when it is the right time to do that.
Pinnacle Rumoured to Consider Shift to the US
Pinnacle decided to withdraw from the UK market back in 2014, but it then assured its UK customers that it planed to return to the country as soon as it gets a UK operating license from the competent authorities. Then, the company which also has Malta and Curacao licenses, submitted a license application to the UK Gambling Commission.
The company expansion to regulated territories remain as a paramount priority for the bookmaker also at the time when the ownership of the operator was changed in 2015.
Pinnacle has still not provided a reason for the licence application withdrawal – a step that could have been provoked by the strong regulatory scrutiny in the UK and the increased market consolidation of local operators. On the other hand, the company may have shifted its focus to a new objective, considering the fact that it unveiled a new B2B platform called Pinnacle Solution, only a week ago. The new platform offers two core products, including an iFrame API and turnkey solution.
In addition, the new platform could be helpful for the company in case that the latter moves for a push in the US. Rumour has it that Pinnacle has turned its eyes to the US, considering a possible shift to the country’s gambling market, especially in case that the US Supreme Court rules in favour of the state of the New Jersey in the latter’s sports betting case.
- Author
Olivia Cole
