PointsBet Confirms No More Licensing Hurdles for Mixi Offer

Mixi’s effort to take over PointsBet just got a major boost. Regulators in Ontario have signed off on the deal, clearing a major hurdle in Mixi’s planned acquisition of shares in PointsBet Holdings Limited. The Alcohol and Gaming Commission of Ontario (AGCO) wrapped up its review and found no issues with the proposed deal, as reported in a company update.

Good to know

• AGCO and iGaming Ontario both confirmed regulatory approval for Mixi’s acquisition.
• PointsBet already got the green light from Northern Territory regulators in March.
• The deal still needs at least 50.1% of shareholders to accept the offer.

The AGCO’s review came after both Betr and Mixi expressed interest in acquiring PointsBet. That sparked what was described as “mutual due diligence” to evaluate whether the purchase could actually move forward.

Alongside AGCO’s green light, iGaming Ontario has issued a written notice to PointsBet confirming its stance on Mixi’s proposed buyout. With both agencies on board, PointsBet says all gaming regulatory conditions listed in its June 16 Bid Implementation Deed have been met.

In a statement, the company said:

“PointsBet is pleased to confirm that Mixi’s proposed Takeover Bid is no longer subject to any gaming regulatory approvals.”

However, it is not a done deal just yet. The offer still hinges on a few more things, including the acceptance of at least 50.1% of shareholders. Until that threshold is met, the bid will not be finalized. PointsBet also mentioned there are a few other “limited conditions” that must still be satisfied, but it did not go into detail.

The Board of Directors said they will keep shareholders updated on any changes related to the transaction.

PointsBet operates in both Canada and Australia and offers a cloud-based sports betting platform. It had previously operated in the United States but exited that market as part of a strategic shift. The company has focused more on regions where it sees stronger long-term potential, like Ontario and Australia.

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