PointsBet subject to $223.2m takeover by Mixi
The company has received multiple acquisition bids in recent days.
Key points:
– PointsBet is subject to an AU$353m acquisition by Mixi, according to Waterhouse VC
– This development follows an additional takeover bid submitted by BlueBet yesterday
– PointsBet had previously denied being in takeover discussions
– Following these developments, the company’s share price has risen 32.53%
Operator PointsBet is reportedly set to be taken over by Japanese sports and entertainment organisation, Mixi, as part of an AU$353m (US$223.2m) acquisition.
This latest development comes less than 24 hours after an additional announcement was released by BlueBet, which specified that it had submitted a separate bid for PointsBet – valued at AU$240m-AU$260m alongside an additional potential consideration of AU$100m.
The BlueBet press release also includes a copy of an official letter addressed to PointsBet Chairman Brett Paton and PointsBet CEO Sam Swannell outlining the proposal, signed by BlueBet Chairman Matt Tripp and BlueBet CEO Andrew Menz.
Were BlueBet to be successful in this latest endeavour, it would have been the third acquisition made by the company in the past 12 months, as the organisation officially acquired Betr last April. More recently, BlueBet announced it would also be acquiring Australian sports betting operator TopSport earlier this month.
However, following recent contradictory reports pertaining to the Mixi takeover, this bid has seemingly been unsuccessful – as it would appear the Australian operator has veered the way of the Japanese sports and entertainment conglomerate.
Good to know: In November, PointsBet denied being in talks with an overseas buyer from the Asian continent
Following these latest developments, PointsBet’s share price has leapt up some 32.53% today to AU$1.10 at the time of writing. Further, the operator’s share price has been subject to an overall increase of 120% over the past six months.
This news falls in the wake of the company’s Q2 FY 2025 report released last month, which highlighted a 34% drop in wagering handle year-on-year, with the operator also reporting total net win of AU$69.9m.
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