PointsBet Holdings Limited (ASX: PBH), a corporate bookmaker with operations in Australia, the United States, Canada and Ireland, has confirmed receiving an unsolicited, conditional, off-market all-scrip takeover offer from Betr Entertainment Limited (ASX:BBT). The offer, detailed in Betr’s bidder’s statement lodged with ASIC and ASX, proposes 3.81 Betr shares for every 1 PointsBet share. Based on Betr’s closing price on July 16, 2025, the offer implies a value of approximately $1.03 per PointsBet share.
PointsBet notes that the implied value of $1.03 per PointsBet share remains consistent when calculated using Betr’s 20-day market VWAP ending on the same date. However, the company acknowledges that the implied value has fluctuated and been lower in more recent trading periods. PointsBet advises its shareholders to refrain from taking any action regarding the unsolicited offer or any related documentation from Betr at this time.
The PointsBet board will prepare a target’s statement in response to the Betr offer, including a formal recommendation. Shareholders are urged to carefully consider the information contained within the Betr Target’s Statement before making any decisions related to the unsolicited bid.
PointsBet’s directors continue to unanimously recommend the previously announced MIXI Takeover Offer from June 26, 2025, which is fully funded and offers a cash payment of $1.20 per share. Further details regarding the MIXI Takeover Offer will be provided to shareholders in due course, according to PointsBet. The company has authorised the release of this announcement.
