PointsBet Holdings Limited (ASX: PBH), a corporate bookmaker listed on the ASX with operations in Australia and Canada that offers innovative sports and racing wagering products and iGaming, has announced that its directors are recommending shareholders accept an increased takeover offer from MIXI Australia Pty Ltd. MIXI Australia has raised its offer price to $1.25 per PointsBet share and declared the offer unconditional.
The PointsBet board has unanimously recommended that shareholders accept the MIXI Takeover Offer, in the absence of a superior proposal. Notably, each PointsBet director has already accepted the MIXI offer. MIXI Australia has stated that the offer price is its “best and final” offer, though it reserves the right to increase the price if it acquires more than 50% of PointsBet shares. Should MIXI Australia further increase its offer, all shareholders who have accepted will receive the incremental increase.
MIXI Australia currently holds an interest in 28.2% of PointsBet shares, including those accepted into its Institutional Acceptance Facility. The company will endeavour to pay accepting shareholders by 29 August 2025, or within ten business days of acceptance, whichever is later. The PointsBet board has determined that Betr’s unsolicited, conditional, reverse off-market all-scrip takeover offer is not a superior proposal, as per the company’s announcement on 31 July 2025.
MIXI Australia’s increased offer represents a premium of 50.6% to the closing price on 25 February 2025, and a 46.1% premium to the one-month VWAP ending the same date. MIXI Australia has also received FIRB approval and all necessary regulatory approvals from gaming regulators. The takeover offer is open until 7:00 pm on 25 August 2025.
