For the re-regulated Swedish online gambling marketplace, Pinnacle has relaunched its low-margin bookmaker services, ending its two-year hiatus.
Coinciding with the launch of the postponed Swedish Allsvenskan football season last weekend (14 June), Peak arrived with a “full array of markets”
Recognized as one of the oldest online sportsbooks in the industry (founded in 1998), in December 2019 Pinnacle obtained its sports betting licence for Spelinspektionen.
Pinnacle believes that there is significant room for growth in Sweden, and especially in sports, for which it experienced consistent double-digit annual growth before it left the market in 2018.
Underlining confidence in its Swedish market aspirations, Pinnacle emphasised its high-volume and low-risk operating ability, which delivered an on-site sportsbook betting risk of 3.7 percent relative to the 7.2 percent industry average.
Paris Smith, CEO of Pinnacle, emphasised that the legacy sportsbook retains a tested blueprint for the market, giving its punters ‘the highest possible retail value and fairest demand.’
She said: ”This relaunch is a proud moment as Sweden is a key market for us, with many loyal customers having used Pinnacle over many years.
“The Swedish regulator is one of the most respected in the world and we are proud to meet the incredibly high standards they require to be recognised as a licensed operator. We believe that satisfying the requirements in Sweden means we can do it anywhere.
”We left the market on good terms and are returning as a fully licensed, regulated operator. We fully embrace the Swedish regulations and wanted to do things in the right way. Having done so, we now see this as an opportunity to contribute to a serious gaming environment in Sweden long-term and to be a key part in the development of the market.”