MIXI secures 51% majority holding in PointsBet, final takeover offer to close this week
Summary
MIXI Australia has increased its stake in PointsBet to 51.59%, gaining majority control and making PointsBet a controlled subsidiary. MIXI’s takeover offer will remain open until 12 September; shareholders who accept before that date will be paid in line with MIXI’s proposal. The move prevents rival bidder Betr Entertainment from securing a majority — Betr holds about 19.9% and has declined the latest MIXI offer. PointsBet’s board has consistently backed MIXI’s cash bid, which values the operator at $1.25 per share (rising to $1.30 only if MIXI exceeds 90% ownership, now unlikely).
Key Points
- MIXI now holds 51.59% of PointsBet and has majority control of the operator.
- The takeover offer stays open until 12 September; early acceptances will be paid per the proposal.
- Betr Entertainment retains a c.19.9% stake and has rejected MIXI’s offer while continuing to press its own proposals.
- PointsBet’s board has recommended shareholders accept MIXI’s $1.25 cash offer; the $1.30 sweetener requires >90% acceptance and is unlikely.
- MIXI has ruled out any collaboration with Betr; the long-running takeover contest appears to be drawing to a close.
Context and relevance
This is a significant development in the iGaming M&A space. Majority ownership gives MIXI the ability to direct PointsBet’s strategic plans and operations, with implications for competitive positioning in Australia and internationally. The result also signals continued consolidation in sports-betting markets and will influence shareholder returns and future bids.
Why should I read this?
Short and blunt: because MIXI just took control. If you care about iGaming mergers, shareholder outcomes or who runs PointsBet next, this is the update worth a read — we’ve done the wading through the detail for you.