Mixi now holds more than 50% of shares in PointsBet
Takeover offer now closes on 12 September after Mixi’s voting power crosses 50% threshold.
Key points:
– Mixi gains majority control of PointsBet, extends offer by two weeks
– Automatic extension granted under Corporations Act, closing date moved to 12 September
– Previous resistance to Betr’s offer reinforced as Mixi consolidates control
Mixi Australia has secured majority control of PointsBet Holdings, with its voting power now surpassing the 50% mark.
The milestone automatically extends its all-cash takeover offer under section 624 of the Corporations Act 2001, giving remaining shareholders until 7:00pm (Melbourne time) on 12 September 2025 to accept the bid.
This development marks a significant turn in the long-running acquisition saga between Mixi and rival bidder Betr Entertainment. Mixi had earlier rejected Betr’s all-scrip proposal, arguing that its assumptions of operational control were unrealistic.
With Mixi now holding a controlling stake, the basis of Betr’s selective buy-back mechanism and projected synergies has been further undermined.
The updated position also reinforces Mixi’s critique of Betr’s revised bid, which relied on a funding arrangement involving a 13% interest loan from an entity linked to its chairman. Mixi had warned that such high-cost financing could dilute value for PointsBet shareholders.
Good to know: Mixi’s offer remains fixed at AU$1.25 (US$0.81) per share in cash, valuing PointsBet at approximately AU$500m
The operator previously stated that payments would be made within 10 business days of acceptance.
PointsBet, listed on the ASX, operates in both Australia and Canada, providing cloud-based sports wagering and iGaming services.
With Mixi surpassing the 50% threshold, it now moves a step closer towards full ownership, consolidating its position as the leading stakeholder in the business.
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.
