Who Is the Owner of Pinnacle Sports? A Look at Leadership and Growth

Magnus Hedman during a 2006 press conference with Jose Mourinho annoucing that Hedman would be the new Chelsea Goalkeeper. (Photo by Gareth Cattermole/Getty Images)

The company is privately owned. Magnus Hedman, a former Swedish soccer player, is its majority owner and leading stakeholder.

• Acquired controlling interest in 2015.
• Serves as chairman and lead investor.
• Operates under the registration of Ragnarok Corporation N.V. in Curaçao.

Under Hedman’s direction, Pinnacle has grown thanks to ongoing innovation. For example, in 2010, Pinnacle Sports became the first sportsbook to accept an Esports wager, a bet on StarCraft 2. Then, during the 2014 World Cup in Brazil, Pinnacle once again achieved an industry first by raising its limits to $1,000,000, appealing to sharp, high-stakes bettors.

Paris Smith is a standout figure in Pinnacle’s history, having served as CEO for over 17 years. Her career in online gaming started before Pinnacle—she held executive roles at early sportsbooks like WWTS (1995), which led to its sale to Betcorp Ltd., where Smith was COO until 2006, when she joined Pinnacle.

A Few of Her Contributions Include:

1. Driving growth: Helping the company expand by focusing on European, Asian, and Canadian markets.
2. Innovative leadership: Pioneering initiatives such as Esports betting.
3. Industry reputation: Cementing Pinnacle’s status as a sportsbook for sharp bettors with competitive odds and lower vig.

Leadership Transition

In May 2023, Paris Smith stepped down from her role as CEO and transitioned to an advisory role. This move was part of a smooth leadership transition, ensuring the experienced management team remained intact while a new CEO was sought.

A new year and a challenge for Pinnacle and its site owner, Magnus Hedman. Several actions have occurred over the last few years, including the launch of Pinnacle Sports in Ontario, regulated by the Alcohol and Gaming Commission, and Pinnacle Canada, available to the rest of Canada.

Pinnacle takes security seriously to protect its platform and users. The company uses a robust security solution to guard against online attacks and ensure data integrity.

Key Security Measures:

• Advanced Protection: The site utilizes industry-standard encryption and Cloudflare services. If you ever see a message like “Cloudflare Ray ID found” or a reference to a “Cloudflare Ray ID,” it indicates that the system is actively monitoring for threats.
• SQL Command Checks: Optimized SQL command queries help detect and prevent malformed data and certain word triggers that could signal suspicious activity.
• Proactive Monitoring: Any actions triggered by potential online attacks are logged immediately to protect the connection and maintain a secure environment.

These technical safeguards ensure that Pinnacle delivers a secure online sports betting experience that stands apart from other bookmakers.

Pinnacle Sports is an example of how focused leadership and innovative strategies can create a brand with a unique value proposition. 

• Ownership and Leadership: With Magnus Hedman at the helm and the legacy of Paris Smith now in an advisory role, Pinnacle has built an experienced management team dedicated to strategic projects and operational excellence.
• Founding Ethos: From its origins in Curaçao to its global presence today, Pinnacle’s commitment to a low-margin, high-volume approach sets it apart.
• Security and Reliability: Advanced security measures—highlighted by features such as Cloudflare ray IDs and robust SQL command safeguards—ensure that both beginners and seasoned bettors enjoy a safe betting environment.

Whether you’re new to online sports betting or a seasoned bettor, Pinnacle offers a secure, reliable, and engaging experience that has helped it become a market leader.