Pinnacle Subsidiary joins Swedish Gambling Trade Group

High profile gambling firm Pinnacle has deepened its ties with Sweden this week. The Pinnacle-owned online sports betting firm, PinBet, has been admitted as a new member of the Swedish trade association representing online gambling firms, Branscheforenigen for Onlinespel (BOS).

 

Pinnacle was originally granted a gaming licence by the Swedish regulator Spelinspektionen in December 2019, but waited until June this year before entering the market. That followed a spell of two years in which Pinnacle had not been active in Sweden, though it used this time to apply for an earn its licence to operate in the re-regulated market.

 

PinBet will now be part of BOS, which is currently involved in active campaigning, registering a series of challenges over regulatory reforms proposed by the Swedish government. It has been particularly vociferous in criticising the government’s revised set of temporary restrictions that were planned during the lockdown associated with the novel coronavirus (Covid-19) pandemic, stating that the measures would cause significant harm to the market and its licensees.

 

The temporary measures include a weekly deposit limit and a cap on bonuses. BOS have stated that the approach of the regulator was not based on evidence. They have also pointed to a study that showed that during the pandemic, customers in Finland, Germany, Norway and Sweden were all betting less overall than before the start of the lockdown.

 

Speaking about the admission of PinBet, the Secretary General of BOS, Gustaf Hoffstedt, said that they were happy to welcome the firm to their association:

 

“Its parent company Pinnacle is one of the world’s most well-known online gambling operators, and we are sure they will bring much insight to our association. Together with PinBet and all our other members we continue our efforts for a safe and reliable Swedish gambling market.”

 

The Chief Executive at Pinnacle, Paris Smith, said that there were many benefits to the company from belonging to the association, stating that experience had taught them that collective efforts to provide an enjoyable and safe customers experience are in everyone’s best interests. She added that Pinnacle were focused on the Swedish market and were happy to add their expertise to a national sector that was undergoing significant regulatory changes.

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