Pinnacle, one of the longest-standing online betting operators in the industry, today continued their transformation with the launch of a B2B platform for operators. This platform will allow new and existing gaming operators to benefit from the strengths of one of the best-known brands in the gaming space today.
In a statement regarding the launch of the platform, Pinnacle CEO Paris Smith said “After 20 successful years in the gaming industry, the launch of our B2B platform is the start of another exciting chapter in the history of Pinnacle. We’re known for risk management and esports, and now others in the industry can benefit from our expertise instead of trying to compete with them.”
Details of the new platform are still being released, including the price to do business with the company. We will update this story as more information becomes available.
This is an interesting change of direction for the gambling operator, but not the first major pivot we have seen from the company. When it launched, Pinnacle was squarely focused on the U.S. sports betting market. Unlike many of its competitors who continued to take the American business even when laws continued to change in the U.S., Pinnacle slowly started to make decisions to legitimize its business.
First, U.S. players were no longer able to make real-money bets with the company, with the database being sold to a competing sportsbook. Next, the company started a long re-branding process, giving the site a much more modern look and feel. IN 2015, the management took the next step by applying for and being approved for licensing from the Malta Gaming Authority. This license is a major step for the firm, as it would have had to open its books to the regulator and now is being heavily monitored.
A move to remove UK players from their business was next on the agenda, which is clearly a move that is a precursor to applying for a license from the UK Gambling Commission. This latest move into the B2B world is the most interesting, as it now straddles the line between operator and supplier.
The reaction to the news of a B2B platform being offered by an operator will be what the industry watches most closely. In the past, these blurred relationships have had many unhappy endings. We wonder if this is the next step to Pinnacle getting out of the operator business altogether, which would be a shame as the company has worked so hard over the last 20 years to build its brand.
Whatever the result, it is clear that the owners of Pinnacle have a vision of what the online gambling world will look like in the future and is positioning itself to gain the maximum benefit for its efforts.
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