Pinnacle-owned online sports betting operator, PinBet, has been appointed as a new member of the Swedish trade association for online gambling, Branscheförenigen för Onlinespel (BOS).
Pinnacle was granted a gaming licence by Swedish regulator Spelinspektionen in December 2019, but refrained from entering the market until June 2020.
Prior to this, Pinnacle had not been active in Sweden for two years, a period during which it applied for and secured its licence to operate in the country’s newly regulated market.
PinBet now joins BOS, the trade association which has recently issued a number of challenges to the Swedish government on regulatory changes. In June, it hit out at the government’s revised set of temporary restrictions it planned to implement during the novel coronavirus (Covid-19) pandemic, saying that they would seriously harm the market and its licensees.
The temporary measures included a SEK5,000 (£428/€482/$545) weekly deposit limit for online casino, as well as a cap on bonuses of SEK100.
BOS suggested the regulator’s approach was not evidence-based, and pointed to a study showing that, during the novel coronavirus (covid-19) pandemic, customers in Sweden, Norway, Finland and Germany were betting less overall than prior to the pandemic.
Commenting on the appointment of PinBet as a BOS member, the association’s secretary general, Gustaf Hoffstedt, said: “We are happy to welcome PinBet among our fellowship of members. 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”
Pinnacle’s chief executive, Paris Smith, also commented on the benefits of the association to the market’s development: “Over 20 years of experience has taught us that these collective efforts to provide a safe and enjoyable experience for customers around the world are in the best interests of everyone involved in the industry.”
“Our focus on the Swedish market extends far beyond another market for us to operate in, it’s also another opportunity for us to lend our expertise to a country that is making important shifts in regulation. It’s great to be a part of the work that the Swedish Trade Association for Online Gambling is doing and we are certainly optimistic for the impact it will have”
