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June 22, 2021

Swedish entrepreneur

New owner of Pinnacle Sports identified

New owner of Pinnacle Sports identified
After weeks of reticence that sparked a storm of speculation, the identity of the new owner of Pinnacle Sports has been confirmed by the operations manager, Paris Smith, who revealed that Magnus Hedman is the head honcho.
United States | 04/17/2015

After weeks of reticence that sparked a storm of speculation, the identity of the new owner of Pinnacle Sports has been confirmed by the operations manager, Paris Smith, who revealed that Magnus Hedman is the head honcho.

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wedish entrepreneur Hedman is perhaps better known as the founder of Malta-based business-to-business sports betting risk management and sports betting odds supplier Touchbet Ltd.

InfoPowa readers will recall that Pinnacle Sports announced its acquisition by an unidentified entity back in February this year, and that it was switching to a regulated markets strategy.  It has since acquired a Malta licence.

Hedman’s preference for staying out of the public eye has sparked speculation that he is the mystery buyer of spread betting firm Sporting Index, which previous owners HG Capital confirmed it had sold to an unidentified buyer for GBP 40 million in March this year (see previous InfoPowa report).

Whilst there has been no official company confirmation that this is the case, Sky News recently reported the Hedman was the buyer.

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