Betr revises PointsBet bid
Updated offer values PointsBet’s Australian business at AU$370m (US$240m).
Key points:
– Revised proposal increases purchase price from AU$0.43 to AU$0.465 per share
– Exclusivity arrangements extended to 6 September 2025
– Proposed acquisition remains subject to PointsBet shareholder approval
Betr Entertainment has submitted a revised non-binding offer to acquire the Australian arm of PointsBet Holdings Limited, increasing the total consideration to AU$370m by offering AU$0.465 per share. The updated offer marks a 37% increase over the closing share price of AU$0.34 on 23 May 2025.
The revised proposal comes after PointsBet previously received a non-binding indicative offer from Betr on 24 May 2025. The enhanced bid reflects ongoing discussions between the two parties and continued due diligence.
If accepted, the deal would see Betr acquire all of PointsBet’s Australian operations, including licences, technology, intellectual property, personnel and assets related to the business.
Betr has also agreed to extend the exclusivity period to 6 September 2025, allowing both parties additional time to progress negotiations and complete necessary assessments. During this period, PointsBet will not solicit or engage in discussions with other potential bidders unless required to comply with fiduciary duties.
Good to know: The PointsBet Board has indicated that it considers the revised terms to be superior to the company’s standalone prospects, although the transaction remains subject to shareholder approval, due diligence and regulatory clearances
As part of the proposed deal, Betr may also request a short-term funding facility to support operational continuity for PointsBet Australia in the event that deal finalisation is delayed.
Shareholders will be updated in due course, and a formal binding agreement is expected to follow pending successful conclusion of discussions.
Gambling Insider delivers the latest industry news, in-depth features, and operator reviews that you can trust. Our team combines rigorous editorial standards with decades of specialized expertise to ensure accuracy and fairness. We are committed to delivering clear, impartial, and dependable coverage across the global gambling sector.
