betr Entertainment Limited, an ASX-listed entity (ASX:PBH) aiming to provide innovative wagering products, has announced a significant development in its off-market takeover bid for PointsBet Holdings Limited (ASX:PBH). The company has formally waived the PointsBet Employee Incentives Condition, as outlined in section 14.13(f) of the replacement bidder’s statement dated 18 August 2025. This announcement was made in accordance with section 650F of the Corporations Act 2001 (Cth).
The notice, lodged with the ASX on 27 August 2025, confirms that the offer is now free from this particular condition. Arnold Bloch Leibler, acting as legal counsel for betr Entertainment, communicated this decision to the ASX and PointsBet. The initial bidder’s statement provides complete details of the offer.
The move signifies betr Entertainment’s continued commitment to acquiring all shares in PointsBet that it does not already own or control. According to the notice, betr Entertainment’s voting power in PointsBet currently stands at 19.1%, based on 347,586,582 PointsBet shares currently issued. The notice was signed by Darren Holley, Company Secretary of betr Entertainment Limited.
