PointsBet Refuses Betr Takeover In Favor Of MIXI Proposal

Australian gaming business PointsBet has confirmed it is rejecting a proposition from betting operator Betr to purchase 80.1% of its shares. Instead, PointsBet will accept an offer from social media service provider MIXI.


- PointsBet has declined a Betr takeover proposition and rather signed a contract with MIXI Inc.
- Betr offered to buy PointsBet shares at AU$ 1.20 each, however with 57% money and 43% scrip
- MIXI provided to purchase each PointsBet share at AU$ 1.20 in cash


The Betr proposition meant to buy 80.1% of PointsBet shares that the business does not currently hold, matching PointsBet's appraisal of AU$ 1.20 per share. However, the Betr proposition provided to pay that value in 57% cash and 43% scrip.


According to PointsBet, 43% of the share worth was straight tied to the worth of . During its due diligence, PointsBet assessed the worth this would supply investors, which peaked at AU$ 1.14 per share however fell as low as AU$ 1.04 per share.


However, while this was PointsBet's primary evaluation, the business likewise took a longer-term view during its due diligence. This found that Betr's cost synergies were overstated and that combination with PointsBet's Canadian operations was most likely to prove challenging.


"The due diligence examinations undertaken by PointsBet enhance the view of the PointsBet Board that the value of the Betr proposition is materially below the AU$ 1.20 in cash per PointsBet being offered by MIXI Australia," stated the PointsBet release.


Long PointsBet acquisition talks come to an end


It's been a number of months considering that reports of an acquisition of PointsBet initially appeared. Fanatics closed its acquisitions of PointsBet's U.S. operations in April 2024, paying $225 million to declare PointsBet's licensing facilities across the country. Fanatics utilized this to introduce Fanatics Sportsbook.


PointsBet released a "Response to Media Speculation" in November 2024, rejecting a report that it went through an AU$ 300 million takeover quote.


However, in 2025, the business began evaluating several quotes. In February, the PointsBet Board leaned towards an acquisition by BlueBet, which provided around AU$ 240 million and AU$ 260 million. Other contenders included MIXI and Betr.


Betr increased its deal for 80.1% of PointsBet in May to around AU$ 360 million, with the business already holding a 19.9% stake. After PointsBet validated it was considering Betr's proposal in May and June, the most current news will come as a blow to Betr, with PointsBet favoring MIXI's deal.