MIXI completes PointsBet takeover bid with 66.43% holding

MIXI completes PointsBet takeover bid with 66.43% holding

Summary

MIXI Australia has completed its takeover offer for PointsBet, acquiring 66.43% of the operator’s voting power after the offer closed on 12 September 2025. MIXI’s bid values PointsBet at A$1.25 in cash per share (rising to A$1.30 only if over 90% is secured). Betr Entertainment, which holds 19.9% of PointsBet, refused the MIXI offer and continued to oppose the deal during the process. With MIXI now holding 230,893,535 votes, PointsBet is majority-owned by MIXI and its shares were trading around A$1.27 at the time of writing.

Key Points

• MIXI secured 66.43% of PointsBet’s voting power when the offer closed on 12 September 2025.
• The takeover price is A$1.25 cash per share; a higher A$1.30 per share was conditional on MIXI obtaining >90%.
• Betr Entertainment, with a 19.9% stake, refused MIXI’s offer and continued to push competing proposals.
• A prior shareholder vote and a proxy-counting issue led to scrutiny and a recount; final support for MIXI remained strong.
• MIXI now holds 230,893,535 votes; PointsBet shares were trading near A$1.27 following the completion.
• Betr had previously tabled an all-share proposal that on paper was higher (c.$1.40 per share) but failed to win the board’s support.

Content summary

The formal close of MIXI’s bid ends a prolonged takeover contest that intensified through 2025. MIXI first improved its offer through the year (initially proposing A$1.06, later rising to A$1.20 and then A$1.25). The PointsBet board repeatedly preferred MIXI’s approach and recommended shareholders accept the final offer. Betr mounted a rival approach and accused PointsBet of excluding its proxy vote in an initial count; a Computershare error led to a recount but did not prevent MIXI securing a majority.

Shareholders who accepted before close will be paid the A$1.25 per share price. Given Betr’s continued opposition and its sizeable stake, MIXI failed to reach the >90% threshold that would have unlocked the A$1.30 conditional price, but the company still achieves operational control with its current holding.

Context and relevance

This deal resolves one of the more closely watched M&A contests in the online sports-betting sector in 2025. For industry observers and competitors, MIXI’s majority takeover signals consolidation momentum and potential strategic shifts at PointsBet — from board composition to market strategy in Australia and overseas. The outcome also underlines how proxy mechanics and shareholder campaigning can materially influence takeover trajectories.

Why should I read this?

Short version: if you follow iGaming M&A, this matters. MIXI now controls PointsBet and that will change the competitive picture — likely affecting partners, market moves and potential further consolidation. We’ve read the fine print so you don’t have to: key vote drama, the Betr rivalry, and why the A$1.25 price stands. Good intel for execs, investors and analysts who need the takeaways fast.

Source

Source: https://igamingbusiness.com/strategy/ma/mixi-completes-pointsbet-takeover-bid/