Life Beat - Pinny closes to US Customers [like Party closing]

[NajdorfDefense]

"Effective Immediately...

After careful consideration, Pinnacle Sports have chosen to voluntarily exit the U.S. market. Accordingly, wagers will no longer be accepted from clients within the U.S. as of Thursday, January 11, 2007. Those clients who are affected will be required to withdraw their balances using the Cashier of their account.

We assure all our clients your balances are available and Pinnacle will continue providing our international clients our same great value."

Good thing I got that Knicks bet in last night.

[New001]

Glad I know trustworthy friends overseas I guess.

[Ribsauce]

wtf would make them close now?

[Lori]

Someone should alert Utah to this thread.

Lori

[Recliner]

I haven't been betting on any sports lately but now the Pinny is gone, this will be the end to sports betting for me.

Pinny closing isn't like Party closing, more like Party, Stars, UB and Full Tilt closing.

[PITTM]

this is the worst news ive heard since party shut down.

rj

[DING-DONG YO]

this is not good news. This is much worse than the party news IMO.

Only ray of light I have seen regarding this is an insight made by Sniper in legislation. He said maybe Pinny is doing this in anticipation of an IPO (they're private now) and has decided that the value of being publicly traded is greater than the value of their US business.

I pray that is the case and not something relating to an increased difficulty to do business in the US due to the legislation.

Leglisation thread

[gomberg]

Yeah - this is really horrible. I'm not a huge sports bettor - but this is crazy and saddens me. I just don't get why they wouldn't wait till after the superbowl - doesn't make sense.

I have a feeling bodog, wsex, and tradesports are going to be getting some more business. Hopefully they don't shut down too (along w/ tilt and stars)...

[NajdorfDefense]

I'm not sure how that's an insight, nothing was stopping them from IPOing in UK or Canada or Hong Kong or Switzerland.

[DING-DONG YO]

[ QUOTE ]
I'm not sure how that's an insight, nothing was stopping them from IPOing in UK or Canada or Hong Kong or Switzerland.

[/ QUOTE ]

umm, if they do IPO, then it will probably be somewhere like you just mentioned. do you have a point?

The point is that there is a possibility that Pinny's exiting the US market was a business decision (IPO plans maybe) and not in direct response to increased difficulty in doing business with US customers because of banks refusing their business.

If their exit was in anticipation of an IPO, than Pinny's exit may not have any implications for other sportsbooks/pokersites