Pinnacle secures Internet gaming operator licence in Ontario

Ontario opened its igaming market on April 4.
Ontario opened its igaming market on April 4.

The firm will launch its sportsbook products in the Canadian province.

Canada.- Pinnacle has secured an Internet gaming operator licence in the regulated Ontario market. Approved by the Alcohol and Gaming Commission of Ontario (AGCO), the licence will enable Pinnacle to launch its sportsbook products in the Canadian province, which opened its igaming market on April 4.

The site will allow consumers to wager on major North American sports events, including the National Football League (NFL) and the Canadian Football League. Meanwhile, the operators’ B2B arm Pinnacle Solution has been approved for gaming supplier registration, allowing Pinnacle to service Ontario sportsbooks with its trading and risk management services.

Pinnacle CEO Paris Smith said: “Ontario’s sports fans and bettors deserve the best betting opportunities and we’re excited to now service them with just that. 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.”

In March, Pinnacle Solution gained a licence from the Malta Gaming Authority (MGA). The licence allows it to provide services to sportsbook partners within the MGA’s jurisdiction.

Ontario igaming revenue for first three months hits CA$162m

In August, iGaming Ontario (iGO) released its first public report of market performance since the Ontario igaming market launched on April 4. The report covers the first full quarter of market operations, ending on June 30. Revenue for the period was CA$162m from wagers of $4bn.

There are 18 operators active across 31 gaming websites and 492,000 active players. Players have spent an average of $113 a month. Operators include US giants such as DraftKings, and Bally Bet, international groups such as Entain and local operators like North Star.

iGO chairman Dave Forestell said: “Our aim is to be the best gaming jurisdiction in the world and these positive results are an early sign that we’re on our way,” said “With a competitive revenue share rate and low barriers to entry, Ontario is an attractive igaming market with a strong player base.”

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