PointsBet’s board has reaffirmed its unanimous recommendation that shareholders accept the takeover offer from Mixi, rejecting the unsolicited scrip offer made by rival Betr. The board’s decision comes after Japanese entertainment company Mixi successfully secured more than 50 per cent of PointsBet’s voting power earlier this week, effectively gaining control of the Australian-based sports wagering company. PointsBet is an Australian corporate bookmaker with operations in Australia, the United States, Canada and Ireland. It provides various online and mobile wagering products, including fixed odds sports, racing and keno, as well as iGaming.
The Mixi offer, which is priced at $1.25 per share, is scheduled to expire on September 12. The board’s continued support for Mixi’s bid underscores its belief that the offer represents the best value and outcome for PointsBet shareholders. Despite Betr’s attempt to disrupt the deal with its own proposal, the board remains steadfast in its recommendation.
The decision highlights the ongoing competition within the online betting market, where companies are vying for market share and strategic positioning. The acquisition by Mixi will enable PointsBet to expand its reach and leverage Mixi’s resources and expertise in the entertainment and technology sectors.
Shareholders are encouraged to consider the board’s recommendation and the details of Mixi’s offer before making a decision regarding their shares. The expiration date of September 12 is a key deadline for shareholders to take action.
