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February 10, Sports Betting. Swedish entrepreneur. 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. What is your opinion about this article? I like it. I don't like it. I have not thought about it. Leave your comment.
Newsletter Subscription. Subscribe to receive the latest news and updates. A little-known Swedish tycoon has emerged as the mystery buyer of Sporting Index, the world's biggest sports spread-betting operator. Sky News has learnt that Touchbet, which is based in Malta and is owned by a businessman called Magnus Hedman, was the unidentified third party which last month swooped to acquire the British-based company.
Touchbet specialises in providing odds to sports betting operators, an area which complements Sporting Solutions, the division of Sporting Index which supplies real-time pricing and sports trading capabilities to sports books, gaming providers and lottery operators around the world. Sporting Index was sold by Hg Capital, a private equity firm which had owned the company since Established in , Sporting Index describes itself as "a leader in sports spread betting, providing its customers with the most exciting way to bet across a wide variety of sports, as well as political and showbiz events".
Warren Murphy, Sporting Index Group's chief executive, said the new owner was "an excellent fit for our business". Mr Murphy's predecessor as the company's chief executive was Richard Glynn, who has just stepped down as the boss of Ladbrokes, the high street bookmaker.
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