Betr Cries Foul as PointsBet Vote Moves MIXI Deal Forward

Tensions are rising in the battle for control of PointsBet. What was supposed to be a clear shareholder vote on June 25 has turned messy, with Betr Entertainment demanding a recount. The group claims its own vote—enough to make some noise—was wrongly left out of the final tally.

Good to know

• Betr holds 19.9% voting power in PointsBet and claims its vote was excluded.
• Shareholders backed MIXI’s bid with 95.69% approval in the meeting.
• Betr is threatening a legal challenge if its vote is not counted.

Despite holding nearly a fifth of PointsBet’s voting rights, Betr alleges that the chair of the meeting “impermissibly excluded” its proxy vote against the MIXI takeover deal. The company insists its vote was properly submitted and never withdrawn.

In the final numbers, 81.9 million votes opposed the takeover, while 350.2 million supported it. The vote looked airtight during the live meeting, with an overwhelming 95.69% of those present in favor of MIXI. But when counting only proxy votes, the support dropped to 69.47%. Betr claims that without its exclusion, the margin could have been tighter—and perhaps more controversial.

Betr Threatens Court Action and Plans Its Next Move

Betr’s message was clear: it wants its vote included, or it will go to court. With the final court hearing scheduled for June 26, Betr gave a direct warning. “If the chair of the meeting fails to do so and announces the results prior to the court hearing on 26 June, Betr will challenge the exclusion of its vote at the hearing,” it stated.

This is not Betr’s first attempt to derail the MIXI deal. It previously offered its own takeover bid, hoping to outmaneuver MIXI with an all-share deal: 3.81 Betr shares for each PointsBet share, valuing each share at AU$1.22. That price was based on Betr’s $0.32 share valuation. Despite promises of “significant value enhancement” and over $40 million in potential synergies, PointsBet rejected the bid.

PointsBet instead leaned toward MIXI’s $1.20 cash-per-share proposal, describing Betr’s offer as “materially” inferior. The group already has a deal in place with MIXI, and the takeover has cleared approval from Australia’s Foreign Investment Review Board. The shareholder vote was the final key piece—unless the court decides otherwise.

MIXI, meanwhile, kept things calm but acknowledged Betr’s protest. It said it “welcomes the strong support” from shareholders while “monitoring the situation closely.” Whether the drama ends in the courtroom or a renewed offer from Betr remains to be seen.

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