MIXI Secures 66.43% Control of PointsBet in $289M Takeover at $1.25 Per Share

• MIXI Australia has secured majority control of PointsBet Holdings with 66.43% voting power, completing its off-market takeover bid on 12 September 2025
• The acquisition was completed through a combination of on-market share purchases at $1.25 per share and acceptances of MIXI’s formal takeover offer
• Rival bidder Betr Entertainment’s proposal was ultimately unsuccessful despite holding a 20.45% stake in PointsBet

MIXI Australia has successfully completed its takeover of PointsBet Holdings Limited, securing 66.43% voting control after its final offer closed on 12 September 2025 at 7pm Melbourne time. The Japanese technology subsidiary acquired control through its unconditional cash offer valued at $1.25 per PointsBet share.

MIXI Australia declared control of PointsBet after reaching 51.86% voting power on 5 September, which included 179.3 million shares of which the company became the registered and beneficial owner. The subsequent increase to 66.43% was achieved through additional on-market purchases and further acceptances of the takeover offer, according to the official financial documents.

The acquisition represents the conclusion of a months-long bidding contest that began in early 2025 when MIXI launched its initial offer at approximately $1.06 per share. Australian wagering group Betr Entertainment mounted a competitive challenge with an all-scrip reverse takeover proposal, offering 4.375 Betr shares for each PointsBet share.

“MIXI Australia’s Offer Price of $1.25 cash per PointsBet share is last and final and will not be increased,” the company stated in its fourth supplementary bidder’s statement. MIXI emphasised that the offer represented its best and final proposal to PointsBet shareholders.

PointsBet’s board consistently endorsed MIXI’s cash proposal over Betr’s share-based alternative, citing greater certainty and immediate liquidity for shareholders. The board recommended that shareholders accept the MIXI offer, particularly given the risks associated with Betr’s more complex stock-swap arrangement.

Betr Entertainment, which held 20.45% of PointsBet shares, declined to accept MIXI’s offer and announced on 22 August that it would not tender its holdings. This decision effectively prevented MIXI from achieving the 90% threshold that would have triggered an increased offer price of $1.30 per share.

MIXI Australia has indicated it will accept board representation commensurate with its majority shareholding in PointsBet. The company explicitly stated it would vote against any resolution to appoint Betr-affiliated directors, citing Betr’s status as a competitor.

The successful takeover positions MIXI to leverage PointsBet’s established market presence in the competitive Australian betting sector. With majority control secured, the Japanese parent company now holds decisive influence over PointsBet’s strategic direction and operational decisions.