This is a developing story and will be updated as new information becomes available.
Update, 9:37am, Oct. 27:
A few updates that came out since early yesterday afternoon.
The first is that the suspension will not be appealed - it was already negotiated between the NHL, NHLPA and Pinto.
We have started to get a bit more information on what happened, but there are still lots of questions. It appears to be a "proxy betting" situation with an account in his name, but that could be him placing bets for someone else in his name, someone else placing his bets for him, or someone making a bet for themselves under his name.
Update, 12:54pm, Oct. 26:
The league, the Senators and Pinto have all released statements which you can read here.
The league's statement is incredibly short on detail, but as reported it does say the suspension is not for betting on NHL games.
On the usual December 1st signing deadline for RFAs, Friedman has clarified that it does not apply to Pinto because he is a 10.2(c) RFA with no arbitration or offer sheet rights.
A shocking news break this morning, with word that the NHL is suspending Shane Pinto for 41 games for violating league gambling rules.
At this time, we do not know the nature of the violation. The obvious assumption is betting on NHL games, but Sportsnet points out that the league has not said that is what happened and points to a precedent from the NFL where a player was suspended for placing a non-NFL bet at a team facility. Bruce Garrioch is reporting that the league's statement, once available, will specifically say that Pinto did not bet on NHL games.
The investigation began sometime over the summer and intensified in recent weeks, per Sportsnet.
According to Elliotte Friedman, Pinto's suspension does run while he is unsigned
On the actual contract negotiation front, Garrioch reports that the Senators have rescinded all offers currently on the table.
There would still be the question of cap hit for any extension Pinto may sign - as this is a suspension for an off-ice infraction he might not count against the cap for the duration of the suspension, but that has not yet been confirmed.
If the cap hit would apply, waiting for the suspension to end before signing Pinto to an extension would put him past the December 1st deadline to play at all this year, though Friedman also believes that has been waived for this as well.