PointsBet to consider Betr takeover proposal
ASX-listed PointsBet has confirmed that its board is considering a takeover proposal from sportsbook operator Betr Entertainment.
Earlier this month, Betr Entertainment submitted an improved takeover offer worth AU$260 million (US$168 million)1 AUD = 0.6472 USD
2025-05-13Powered by CMG CurrenShift and AU$100 million (US$64.7 million)1 AUD = 0.6472 USD
2025-05-13Powered by CMG CurrenShift in shares. Betr Entertainment also claimed that the deal could lead to annual synergy returns of AU$40 million (US$25.9 million)1 AUD = 0.6472 USD
2025-05-13Powered by CMG CurrenShift.
The PointsBet board has confirmed that the bid qualifies as potentially superior to a rival bid from Japanese sports betting and entertainment company MIXI.
According to a statement released on Monday, PointsBet and Betr Entertainment will go through a process of mutual due diligence.
The statement read, “PointsBet’s initial focus will be on the value of synergies and Betr shares, as the implied value of the proposal for shareholders is heavily dependent on these two elements, given that the proposal contemplates a 57% cash/43% shares funding mix.”
However, the statement also said that PointsBet remains committed to the MIXI offer. This offer, worth AU$353 million (US$228 million)1 AUD = 0.6472 USD
2025-05-13Powered by CMG CurrenShift, was unanimously approved by the board in February, though shareholders still needed to ratify it in a vote scheduled for late May.
Complicating the issue further is that Betr Entertainment now owns 19.9% of the shares in PointsBet, meaning it will have a significant voice in the shareholder vote.
The PointsBet statement gives no timeline for the due diligence process but states that it will keep shareholders informed.
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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.
