Betr's PointsBet takeover gains support from shareholders and receives necessary regulatory approvals
As of early August 2025, Betr Entertainment and MIXI Australia remain the two primary contenders in a competitive takeover of PointsBet Holdings.
Betr Entertainment's Position
Betr Entertainment's takeover offer is considered superior by PointsBet itself, with the company labeling Betr's $360 million bid as superior amid the ongoing bidding race. PointsBet described a takeover proposal from Betr Entertainment as superior to MIXI’s competing offer as of late July 2025. Betr's offer is an all-scrip (share-based) deal involving an exchange ratio of about 3.81 Betr shares for every PointsBet share.
MIXI Australia's Position
MIXI, a major Japanese digital sports and entertainment company, has increased its takeover cash offer to A$1.25 per share to compete with Betr. Despite MIXI increasing its offer, PointsBet’s board rejected a prior Betr takeover offer back in July 2025, showing earlier preference for MIXI. However, later PointsBet favored Betr’s proposal. MIXI’s intended takeover has cleared at least one regulatory hurdle, with authorities offering no objection to the $400 million bid.
Regulatory and Shareholder Status
Major regulatory approvals have been granted to both parties. The approvals were granted by the Alcohol and Gaming Commission of Ontario (AGCO) and iGaming Ontario, paving the way for either acquisition. Shareholder votes are crucial, but the outcome is not yet publicly confirmed. As of August 2025, over 75% of Betr's shareholders have given approval to a selective buy-back resolution, a main condition of Betr's all-scrip off-market offer to acquire PointsBet.
Competition Intensifies
These approvals have intensified the competition between Betr Entertainment and MIXI Australia. PointsBet has mostly rejected Betr's latest advances, alleging that synergy projections are overestimated. The formal vote for the takeover is scheduled for August 25. The final outcome likely hinges on shareholder approval, which was pending or not publicly confirmed as of early August 2025.
- Despite MIXI increasing its cash offer, PointsBet initially preferred MIXI's proposal over Betr's, but later favored Betr's superior all-scrip takeover offer.
- The competition between Betr Entertainment and MIXI Australia for control of PointsBet Holdings has intensified, with PointsBet examining Betr's offer, considering the projected synergies to be overestimated.
