MIXI Returns With Updated Offer for PointsBet

Japanese entertainment group MIXI has returned with a fresh takeover bid for PointsBet, intensifying the competition with Betr. As Betr pushes forward with its improved offer, PointsBet’s board is urging shareholders not to take any action on that front while reaffirming its support for MIXI’s latest proposal.

Good to know

• MIXI’s revised bid values PointsBet at AU$402 million (US$260 million).
• The offer requires just 50.1% shareholder acceptance to proceed.
• PointsBet board continues to back MIXI’s proposal unanimously.

In this new all-cash bid, MIXI is offering AU$1.20 per share. The updated proposal requires less shareholder support than previous attempts—just a simple majority of 50.1%. MIXI already holds 17.18% of the shares, thanks to support from PointsBet directors and pre-bid deals with Long Short Equity Management and Pictet Asset Management.

That early backing gives MIXI a solid starting point as it seeks to take control of the sports betting company.

Regulatory clearance already in place

One key advantage for MIXI is that it has already received important regulatory approvals. The Alcohol and Gaming Commission of Ontario and the Northern Territory Racing and Wagering Commission have both given the green light, meaning MIXI does not need to go through the approval process again for this latest bid.

This allows MIXI to move forward quickly without waiting for further regulatory review, something that can often slow down or derail takeovers in the gaming industry.

Despite a competing offer from Betr, PointsBet’s board has not changed its stance. The company has again advised shareholders to hold off on making any decisions regarding the Betr bid and continues to recommend MIXI’s offer.

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