Controlling interest acquired by unknown buyer
A notification to Pinnacle shareholders last week by M&A specialists Alternative Trading Partners shows that a controlling interest in the online sportsbook has been acquired by an unknown investor.
The development may be a consequence of the enterprise's exit from the UK market late last year due to the imposition of the point-of-consumption and secondary licensing regime imposed by the British government.
InfoPowa readers may recall that Pinnacle also officially left the US market following UIGEA in late 2006, although it was not until 2012 that it commenced noticeably active US-player exclusion after it was named in the federal charges against Cantor Gaming exec Michael Colbert.
Online Casino News Courtesy of Infopowa