PointsBet unconvinced by revised Betr offer
Australian betting operator PointsBet has not been won over by Betr Entertainment’s revised takeover bid, according to a statement released yesterday.
PointsBet said the already preferred bid from MIXI Australia remained the only transaction capable of acceptance by its shareholders, not least because having conducted due diligence, PointBet has determined that “Betr’s business is considerably less attractive than PointsBet’s business.”
Betr Entertainment’s second bid, which values PointsBet shares at AU$1.22, (US$1)1 AUD = 0.6494 USD
2025-06-24Powered by CMG CurrenShift follows the rejection of its earlier offer.
Betr’s initial offer was worth AU$360 million (US$234 million)1 AUD = 0.6494 USD
2025-06-24Powered by CMG CurrenShift but was turned down by the PointsBet board, which wants shareholders to accept a competing bid from the Japanese gaming and entertainment group MIXI, reportedly worth AU$402 million (US$261 million)1 AUD = 0.6494 USD
2025-06-24Powered by CMG CurrenShift.
In its statement, PointsBet cited several factors that counted against the Betr Entertainment offer, including significant customer crossover between the two companies and what it describes as an overvaluation of the potential cost synergies estimated by Betr Entertainment.
The statement also described Betr Entertainment’s net revenue as being dependent on a small number of VIP customers, and that 65% of Betr’s aggregate net win comes from players already signed up to PointsBet.
The announcement said PointsBet had not changed its recommendation to shareholders that the MIXI bid is the best option.
Shareholders will consider that offer at a meeting 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.
