MIXI Australia, a subsidiary of the namesake Japanese company MIXI, has confirmed that it has boosted its controlling share in PointsBet Holdings Limited, an Australian sports betting company, to 66.43% following months of debate.
MIXI Australia wins a major victory in PointsBet’s takeover process
MIXI Australia has essentially increased its share from 51.59% previously, with PointsBet accepting its bidding offer for AU$1.25 per share, and over a rival all-scrip bid put forward by Betr Entertainment that fiercely contested the process and its transparency.
In the end, the PointsBet Board of Directors’ original concerns prevailed, with Betr Entertainment deemed too risky a buyer due to its dependency on fewer events and customers in sports. Betr Entertainment retains a stake worth 19.9% of the company’s total shares and is still a substantial investor in it.
MIXI Australia sought to conclude the deal in February 2025 when it put forward an AU$1.06 offer for the company, but was met with fierce pushback from Betr, which repeatedly adjusted its offer to try and match MIXI’s bids.
Betr Entertainment ended up preferring shares instead of cash, which might have dissuaded hesitant shareholders. The PointsBet Board of Directors consistently deemed MIXI Australia’s offers superior.
