Summary
- Australia's FIRB has approved MIXI's potential acquisition of PointsBet.
- The company is competing with Betr to acquire PointsBet's assets in Australia and Canada.
- MIXI is already active in Australia's sports betting market and is pursuing consolidation.
MIXI, a social media and tech conglomerate, has received approval from Australia's Foreign Investment Review Board (FIRB) for its planned acquisition of Pointset. The deal is still pending customary regulatory clearances and remains in progress towards completion.
MIXI is one step closer to acquiring PointsBet assets
In June, MIXI made a tentative offer of AU$402 million to acquire a well-known Australian brand, which has expanded into Canada after leaving the U.S. market in 2024. This bid and MIXI's proposal followed the company's decision to raise its initial offer and surpass the AU$360 million bid from Betr, the operator of BlueBet, submitted in April for PointsBet’s assets. Even at the lower price, the Australian gambling giant was seriously considering the sale. PointsBet has confirmed that MIXI has cleared an important regulatory hurdle, as more details about the potential acquisition emerge. PointsBet has advised its shareholders to accept the offer, provided no better offers are available. PointsBet stated that the recent regulatory approval suggests government support for the deal, recognizing that MIXI is attempting to acquire a 100% stake in PointsBet. However, additional approvals are still required. Since PointsBet also operates in Ontario, Canada, the acquisition would need clearance from the local regulator, the Alcohol and Gaming Commission of Ontario (AGCO), as well as iGaming Ontario. Meanwhile, MIXI is already active in the local market and participates in the Australian sports betting sector through its betM brand, operating under a license in the Northern Territory.
