Pinnacle will launch its first regulated, licensed sportsbook in North America when it goes live Wednesday in Ontario.
“We want to give our customers a true and unique betting experience,” CEO Paris Smith said. “At Pinnacle.ca, that means great odds on the sports Ontario bettors care about, a strong focus on responsible gambling, and the welcoming of both recreational customers and the sharpest professionals around.”
Pinnacle will launch sports betting in Ontario and esports content first. Online casino games will follow “soon after” with more sports content coming in the future.
Pinnacle not new to Ontario
It will not take long for Pinnacle to drum up some business in Ontario, of course. The Curacao-based operator participated in the province’s gray market.
Smith noted Ontario’s “robust, fair regulatory regime” when Pinnacle received its license from the Alcohol and Gaming Commission of Ontario in September.
Pinnacle’s plans to enter the regulated Ontario sports betting market have been in the works for at least half a year. The company posted a job opening for a Canada Country Manager based in Toronto back in April.
Included in the job description was “work closely with our legal and compliance team to guarantee licensing requirements are planned and executed for new Canadian market entries.”
Regulated flip comes at the right time
Ontario opened its regulated market on April 4, but its enforcement of non-licensed operators did not start at the same time.
That policing will officially begin in November, the AGCO announced earlier this month. Oct. 31 is the last date unregulated operators can transition as any of them still operating without a license after that could jeopardize being licensed in the future.
“Since market launch on April 4, the AGCO has provided a reasonable amount of time for these operators and gaming-related suppliers to join the regulated market in a business-like and seamless fashion.”
Pinnacle joins rapidly growing regulated market
That is up from C$4.07 billion in the first quarter, likely boosted by NFL betting as well as more operators joining the market.
Revenue jumped 48% in the second quarter to CAD $267 million.