Pinnacle withdraws UK licence application
Low-margin operator says it has decided to prioritise its recently launched B2B platform
Pinnacle has shelved its plans to launch in the regulated UK market after withdrawing its licence application, EGR Intel can reveal.
The UK Gambling Commission (UKGC) and Pinnacle yesterday both confirmed the withdrawal of the application, which had been marked as pending on the UKGC site for several months.
Pinnacle CEO Paris Smith told EGR the company had instead decided to focus its efforts on its recently launched B2B division, Pinnacle Solution.
“The launch [of Pinnacle Solution] was the culmination of months of effort by the company to develop an innovative offering that would satisfy the demands of the market and we look forward to announcing our first customers shortly,” Smith said.
“With this launch, the company has decided to prioritize efforts on developing its B2B business for the time being.
“Consequently, Pinnacle can confirm that it has withdrawn its application to the UK Gambling Commission in order to fully focus on growing the Pinnacle Solution offering.”
The B2B platform is seen as one potential route into the US market for the Curacao-based bookmaker.
However the decision brings to an end Pinnacle’s multi-year pursuit of a UK licence “for the time being”, after it left the market ahead of the POC tax regime in 2014.
In June 2016, the firm said it was “aiming to have its ducks in a row” for an application by the end of the year.
Even in March this year the firm told EGR via email it was “still committed to the application” and dismissed rumours it was becoming increasingly unlikely.