Higher PointsBet offer presented by Betr, overriding earlier rejection
Betr Entertainment Makes Higher Bid for PointsBet Holdings
Betr Entertainment, an Australian betting operator, has made a new bid to acquire PointsBet Holdings. This latest offer, which values PointsBet at AU$1.35 (US$1) per share, surpasses the current proposal from MIXI.
The new bid comes without any specific terms or conditions, but Betr has indicated its intention to increase its offer after the formal offer period is opened. The offer is based on 4.219 of Betr's own shares for each PointsBet share it doesn't already own.
The target of the bid is PointsBet Holdings, a company that, as of early August 2025, has secured crucial regulatory approvals in Canada and strong shareholder support for key deal conditions. Over 75% of Betr’s shareholders have approved a selective buy-back resolution that is part of its all-scrip off-market offer, with the formal vote scheduled for August 25, 2025.
Despite PointsBet’s apparent preference for a rival bid from MIXI Australia, which has secured Commonwealth regulatory approval but not the same level of shareholder backing as Betr, the new bid from Betr Entertainment is gaining momentum. The offer does not specify a deadline for acceptance.
It's important to note that the offer from Betr does not include details about its financing or funding sources. However, the company has already secured crucial regulatory approvals from the Alcohol and Gaming Commission of Ontario and iGaming Ontario.
The final outcome of this competitive acquisition battle may depend on PointsBet shareholders' decisions and regulatory processes unfolding over the next weeks. The acquisition, if successful, could mark a significant move in the Australian betting industry.
Sports bettors may find the ongoing competition between Betr Entertainment and MIXI Australia intriguing, as Betr has escalated the sports-betting scene by making a higher bid for PointsBet Holdings, a company that operates in both Australia and Canada. This latest offer, based on the exchange of 4.219 Betr shares for each PointsBet share not already owned, could potentially reshape the sports-betting market.
