PointsBet Holdings Limited has entered into an agreement with MIXI, Inc. and its subsidiary, MIXI Australia, for the complete acquisition of PointsBet’s issued share capital. The deal will see PointsBet shareholders receive A$1.06 ($0.66) per share in cash, amounting to a total transaction value of A$353 million ($220.80 million).
The proposal is pending shareholder and regulatory approvals and is expected to be finalized by mid-June 2025. The board of PointsBet has unanimously recommended that shareholders vote in favor of the deal, citing the premium cash offer as an opportunity to realize value at favorable trading multiples.
Chairman Brett Paton stated that the transaction offers “a compelling opportunity for PointsBet shareholders to realize certain cash value, at a significant premium to recent trading prices.”
CEO Sam Swanell highlighted that PointsBet’s leadership thoroughly assessed the offer alongside the company’s strategic prospects as an independent entity. He remarked that MIXI’s proposal “appropriately reflects the value of PointsBet’s world-class technology assets and reputation for wagering excellence in both Australia and Canada.”
MIXI, a Japanese consumer technology company, has a diverse portfolio that includes mobile gaming, social networking services, and sports team management. The company’s sports betting operations in Japan, particularly through its social betting platform TIPSTAR, have been growing steadily and recently reached full-year profitability.
MIXI has identified Australia as a key market for expansion, given the country’s well-established betting culture and regulatory framework. In a statement, MIXI expressed its enthusiasm for the Australian market: “Given Australia’s established culture of enjoying betting with family and friends, we consider it a very attractive market for expanding our social betting service.”
While MIXI has secured support from PointsBet’s board, the acquisition bid faces competition from rival Australian wagering firm BlueBet. The company, which merged with Betr last year, has put forward an alternative offer comprising A$240 million ($150 million) to A$260 million ($162.6 million) in cash, along with A$100 million ($62.55 million) to A$120 million ($75 million) in scrip consideration.
BlueBet argues that its proposal presents significant strategic benefits, including A$40 million ($25 million) in potential synergies. In an open letter to PointsBet shareholders, BlueBet’s chairman and CEO suggested that a substantial portion of stakeholders may favor a deal that includes a scrip component rather than an all-cash buyout.
PointsBet shareholders will have an opportunity to vote on the MIXI acquisition at a special Scheme Meeting scheduled for May 2025.
Original article: https://www.yogonet.com/international/news/2025/02/27/96567-mixi-reaches-220-million-agreement-to-acquire-pointsbet-as-rival-bluebet-pushes-competing-bid
