Pinnacle Sports awarded Malta licence

The Malta Gaming Authority has issued a Class 2 Provisional Gaming Licence to online sportsbook operator Pinnacle Sports, which announced a change of ownership in August 2014 without disclosing the identity of the new owner. (see previous report).

In a press release announcing the award, Pinnacle CEO Paris Smith commented that the licence constitutes a foundation for an aggressive growth strategy and “…initiates ambitious plans for expansion into regulated markets, and the development of relevant B2B relationships.”

It is understood that Asia is high on the company’s expansion priority list, and the sports betting information site Sports Betting Review reports that the company is working on an upgrade to both its infrastructure and betting product; a model which uses reduced, discount pricing instead of the traditional sportsbook bonus model used by many betting sites.

The MGA’s executive chairman, Joseph Cuschieri, described Pinnacle as “…one of the biggest brands in the gaming industry.”

Pinnacle is also licensed in Curacao.