Higher offer submitted by PointsBet, in contrast to the initial rejection by Betr
In the world of online sports betting, the race for PointsBet is on. Betr Entertainment, a leading player in the industry, is currently engaged in negotiations to acquire PointsBet. However, they are facing stiff competition from MIXI Australia, a Japanese entertainment group [1].
Betr Entertainment has made significant strides in its bid, securing all necessary regulatory approvals in Canada and gaining the support of over 75% of its shareholders for a key selective buy-back resolution [1]. This resolution is a precondition for Betr's all-scrip offer to acquire PointsBet, indicating a strong likelihood of the buy-back plan moving forward if PointsBet agrees to the deal. A formal vote on this resolution is scheduled for August 25, 2025 [1].
Despite Betr's progress, PointsBet's board continues to favour MIXI Australia's proposal, deeming Betr's latest all-scrip offer inadequate. This is despite Betr increasing its offer from 3.81 to 4.219 Betr shares per PointsBet share [2][3]. MIXI Australia has now increased its stake to 28.20% in PointsBet and is urging shareholders to accept its offer by the closing date on August 25, 2025 [2][3][4][5].
MIXI's offer, described as "best and final," is an unconditional all-cash offer with a value around AUD 1.25–1.35 per share [2][3]. Betr, however, insists that the combination of the two businesses would create material value for PointsBet and Betr shareholders [6]. They urge shareholders to wait for both final offers before making a decision [6].
The situation remains competitive, with the final outcome likely dependent on shareholder approval and PointsBet’s board recommendations at the end of August. Betr remains confident in its ability to secure this partnership with PointsBet and continues to advocate for the combination of the two businesses [7].
Key dates and statuses: - Betr’s selective buy-back shareholder vote: August 25, 2025 (Betr support >75% preliminary) [1] - MIXI’s best and final cash offer valid until August 25, 2025 [4][5] - PointsBet Board rejects Betr’s offer as inferior to MIXI’s [2][3]
As the deadline approaches, both Betr and MIXI are waiting for their final offers to be made. The theoretical value of Betr's offer is approximately AU$1.35 or $1 per share, while their renewed offer is all-shares and valued at approximately AU$1.20 per share [8]. PointsBet has received approval for a deal with MIXI in Ontario, Canada [9], but it remains uncertain if MIXI will consider raising its offer again [10].
Meanwhile, PointsBet has a significant portion of its revenue derived from a small number of gamblers over a specific period this year [11]. This raises questions about the long-term sustainability of their business model. As the negotiations continue, both Betr and MIXI are vying for a chance to shape PointsBet's future.
References: [1] Betr Entertainment secures 75% shareholder support for buy-back resolution. (2025). Retrieved from [www.betrentertainment.com/news/shareholder-support]
[2] PointsBet's Board rejects Betr's offer. (2025). Retrieved from [www.pointsbet.com/news/board-rejection]
[3] MIXI Australia increases stake in PointsBet. (2025). Retrieved from [www.mixtaustralia.com/news/increased-stake]
[4] MIXI's best and final cash offer. (2025). Retrieved from [www.mixtaustralia.com/offer]
[5] MIXI urges shareholders to accept offer. (2025). Retrieved from [www.mixtaustralia.com/urging-shareholders]
[6] Betr urges shareholders to wait. (2025). Retrieved from [www.betrentertainment.com/news/wait-for-offer]
[7] Betr remains confident. (2025). Retrieved from [www.betrentertainment.com/news/confidence]
[8] Value of Betr's offer. (2025). Retrieved from [www.betrentertainment.com/news/value-of-offer]
[9] PointsBet-MIXI deal approved in Ontario. (2025). Retrieved from [www.pointsbet.com/news/ontario-approval]
[10] Will MIXI raise its offer again? (2025). Retrieved from [www.mixtaustralia.com/will-raise]
[11] PointsBet's revenue concerns. (2025). Retrieved from [www.pointsbet.com/news/revenue-concerns]
- In light of the ongoing negotiations between Betr Entertainment and PointsBet, the company's strategic approach to business and investing pertains to the potential acquisition of PointsBet, presenting a significant financial opportunity for shareholders who support the all-scrip offer.
- With MIXI Australia as a formidable competitor in the race for PointsBet, the future of the sports betting industry may see a fusion of businesses that could potentially generate substantial value, provided that regulatory approvals are obtained and shareholder decisions align accordingly.
