Pinnacle and Entain net Ontario licenses as market continues to crowd
Curaçao-licensed Pinnacle set to battle US giants for first time in regulated space
Pinnacle is set to tackle the regulated Ontario online gambling market after being granted a license by the Alcohol and Gaming Commission of Ontario (AGCO).
The online operator, which previously excelled in the Ontarian grey market, will face off against major US firms such as DraftKings and FanDuel for the first time.
Pinnacle will be available to Ontario residents via Pinnacle.ca, with the group’s B2B division Pinnacle Solution also being approved in the market to provide sportsbooks with trading and risk management services.
Paris Smith, Pinnacle CEO, said: “Ontario’s sports fans and bettors deserve the best betting opportunities, and we’re excited to now service them with just that with the recent approval of our registration from the AGCO.
“There’s a robust, fair, regulatory regime in place, along with a knowledgeable sports and betting audience, and we’re excited to be able to take our winners welcome mantra to the market and take Ontarian betting to the next level,” she added.
Elsewhere, Entain took its number of Ontario licenses from three to four after its Sports Interaction brand was given the green light.
The London-listed operator now operates the Sports Interaction, bwin, Party and BetMGM brands in the province.
Entain acquired Avid Gaming, the owner of Sports Interaction, earlier this year as part of the firm’s global M&A expansion plans.
Robert Hoskin, Entain chief governance officer, revealed Entain had been growing its Canadian team following the acquisition of Avid Gaming and was looking ahead to the future in the market.
He said: “Since we acquired Sports Interaction earlier this year, we have bolstered our team on the ground as part of the integration to really capture the exciting growth opportunity ahead.
“It has the potential to be a significant market with a large, engaged and passionate sports fan base. As a global leader in sports betting, gaming and interactive entertainment, this aligns with our strategy to be a leader across our regulated markets,” he concluded.