Betr announces increased PointsBet offer
Australian betting group Betr Entertainment has renewed its efforts to acquire rival sportsbook PointsBet.
The new takeover proposal offers 3.81 Betr shares per PointsBet share, valuing PointsBet at AU$1.22 (US$1)1 AUD = 0.6478 USD
2025-06-23Powered by CMG CurrenShift per share based on Betr’s current price.
The move comes after PointsBet rejected Betr’s AU$360 million (US$233 million)1 AUD = 0.6478 USD
2025-06-23Powered by CMG CurrenShift offer and backed an updated AU$402 (US$260)1 AUD = 0.6478 USD
2025-06-23Powered by CMG CurrenShift bid from Japanese entertainment group MIXI. The PointsBet board recommended that offer, which was valued at AU$1.20 (US$1)1 AUD = 0.6478 USD
2025-06-23Powered by CMG CurrenShift per share in cash, and it is already under a bid implementation deed.
To help finance its new proposal, Betr has raised AU$130 million (US$84.2 million)1 AUD = 0.6478 USD
2025-06-23Powered by CMG CurrenShift through an oversubscribed offering and is planning a selective share buy-back. This would mean PointsBet shareholders who accept the bid would get up to AU$1.22 (US$1)1 AUD = 0.6478 USD
2025-06-23Powered by CMG CurrenShift per share in cash.
The total would be capped at AU$80 million (US$51.8 million)1 AUD = 0.6478 USD
2025-06-23Powered by CMG CurrenShift initially but could go up to AU$200 million (US$130 million)1 AUD = 0.6478 USD
2025-06-23Powered by CMG CurrenShift if Betr acquires at least 90% of shares.
Betr says the offer would only need shareholder and regulatory approval. The group also claimed it would lead to AU$40 million (US$25.9 million)1 AUD = 0.6478 USD
2025-06-23Powered by CMG CurrenShift in synergies.
However, PointsBet remains skeptical. In a statement on Friday, it said that the Betr offer was “materially below” the MIXI bid. PointsBet shareholders are set to vote on the MIXI offer on June 25.
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Charlotte Capewell brings her passion for storytelling and expertise in writing, researching, and the gambling industry to every article she writes. Her specialties include the US gambling industry, regulator legislation, igaming, and more.
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