Betr Entertainment announces renewed PointsBet bid
Australian sports betting company Betr Entertainment has announced a new bid to take over rival bookmaker PointsBet.
The proposal is worth AU$360 million (US$230 million)1 AUD = 0.6385 USD
2025-04-29Powered by CMG CurrenShift, which is comprised of AU$260 million (US$166 million)1 AUD = 0.6385 USD
2025-04-29Powered by CMG CurrenShift in cash and AU$100 million (US$64 million)1 AUD = 0.6385 USD
2025-04-29Powered by CMG CurrenShift in Betr Entertainment shares.
According to PointsBet, synergies produced by the takeover could be worth around AUD$40 million every year, which could add the value of AU$1.33 (US$0.85)1 AUD = 0.6385 USD
2025-04-29Powered by CMG CurrenShift to the shares of PointsBet shareholders.
The move comes after Betr Entertainment acquired a 19.9% interest in the company on Monday through a share purchase agreement with two of PointsBet’s most prominent investors. The company has committed to an equity-raising plan of AU$130 million (US$83 million)1 AUD = 0.6385 USD
2025-04-29Powered by CMG CurrenShift to partially fund the 19.9% holding and the buyout.
Betr Entertainment is competing against a Japanese sports entertainment group, Mixi, and has confirmed that, as the largest shareholder in PointsBet, it will vote against Mixi’s takeover proposal.
“The transaction provides a clear pathway for Betr to become the clear number four wagering player in the Australian market, within the 10-15% market share sweet spot,” Betr Entertainment CEO Andrew Menz said in a statement. “To support this goal, we have completed a detailed bottom-up build of the synergy potential and expect a prize of AU$40 million (US$26 million)1 AUD = 0.6385 USD
2025-04-29Powered by CMG CurrenShift in annual cost synergies within the first full year of ownership.”
