PointsBet defends shareholder vote amid Betr challenge
Sports betting company PointsBet has rejected claims by rival Betr Entertainment that it excluded a crucial vote during its 25 June shareholder meeting to approve a proposed acquisition by Japanese entertainment and technology group MIXI.
According to the Financial Review, shareholders voted in favor of a plan under which a MIXI subsidiary would acquire PointsBet. However, Betr, which holds a 19.9% stake in PointsBet, alleged its vote against the deal was improperly omitted and called for a recount, warning it would challenge the outcome in court.
PointsBet described Betr’s claims as “factually inaccurate and without basis.” According to PointsBet, a senior Betr executive logged in virtually during the meeting, revoked the group’s proxy, and did not lodge any votes for Betr.
PointsBet also explained that voting records maintained by its share registry operator, Computershare, support this version of events.
Betr maintains that it lodged its vote and has denied revoking it. It has reaffirmed its intent to push ahead with a direct takeover and stated that it expects the vote count to be correct.
This week, PointsBet’s board recommended that shareholders reject the Betr offer, describing it as “highly conditional.” The MIXI bid, which valued PointsBet shares at AU$1.20, (US$1)1 AUD = 0.6546 USD
2025-06-26Powered by CMG CurrenShift passed with the necessary majority, and PointsBet confirmed it will proceed with the final court hearing as scheduled on 26 June.
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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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