Despite the decision being voluntary it is unclear quite why Pinnacle Sports made the sudden move – pulling from the US is certain to see a substantial injury to their growth. The company will be continuing to offer their same service to its international customers, believing that their share of the European market was significant enough that their American gamblers were no longer necessary. It is believed that 40 percent of the company’s business is based in Europe and Asia.
PinnacleSports.com, previously believed to be working around the recent Unlawful Internet Gambling Enforcement Act and continuing to accept wagers from US clients, yesterday withdrew its business from the US market with immediate effect.
Pinnacle Sports is by no means the last of online gambling sites to go: a number of online casinos and poker rooms, such as PokerStars and Absolute Poker, are continuing to face the US market.
In the statement issued by the company, European managing director Steve Cook said, “The board have taken a considerable amount of time to weigh up all of the options and sought a great deal of legal and market advice. We had agonised over the decision for several weeks, but sadly we have no alternative. We have concluded that it is the best way forward for the company.”
January 18, 2007, 11:07 am (1 year ago)
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