Summary
- MIXI Australia triumphantly acquires a commanding 66.43% stake in PointsBet.
- This move might just mark the conclusion of the intense bidding battle between the company and its rival, Betr Entertainment.
- In February 2025, MIXI Australia took the lead with their first offer, sparking a flurry of counter-proposals from Betr.
MIXI Australia, part of the renowned Japanese company MIXI, has proudly announced it now holds a commanding 66.43% stake in PointsBet Holdings Limited, an Australian sports betting powerhouse. This decisive move comes after months of intense discussion and deliberation.
MIXI Australia wins a major victory in PointsBet’s takeover process
MIXI Australia has significantly boosted its ownership, climbing above the previous 51.59%, as PointsBet accepted their offer of AU$1.25 per share, edging out a spirited all-scrip bid from Betr Entertainment, which had aggressively challenged the fairness of the process. Ultimately, the Board of Directors at PointsBet remained steadfast in their view that Betr Entertainment, relying heavily on a narrow range of events and customers, posed too great a risk. Though Betr retains a notable 19.9% stake and remains a key investor, its efforts fell short. MIXI Australia initially proposed an AU$1.06 offer back in February 2025, aiming to close the deal, but met with strong opposition from Betr, who continuously revised their bid to stay competitive. Betr opted for shares over cash, a choice that might have unsettled cautious shareholders. Throughout, PointsBet's Board stood by MIXI Australia’s proposals, finding them consistently more compelling.
