betr Entertainment Limited (ASX:PBH), a company focused on entertainment and wagering products, has announced a significant development in its off-market takeover bid for PointsBet Holdings Limited. betr Entertainment is pursuing acquisition of all shares in PointsBet that it does not already own or control. In a notice released today, betr Entertainment declared that its offer is now free from the condition outlined in section 14.13(f) of the Bidder’s Statement, known as the ‘PointsBet Employee Incentives Condition.’
The announcement, made in accordance with section 650F of the Corporations Act 2001 (Cth), confirms the removal of this specific condition. This decision modifies the original terms of the offer as outlined in the replacement bidder’s statement dated 18 August 2025. Arnold Bloch Leibler, acting for betr Entertainment Limited, lodged the notice with the ASX.
The notice explicitly states that, for the purposes of section 650F of the Corporations Act, the offer and each contract formed by the acceptance of the offer are free from the PointsBet Employee Incentives Condition. As of the date of the announcement, betr Entertainment’s voting power in PointsBet is reported to be 19.1%, based on 347,586,582 PointsBet shares currently on issue. The announcement was signed by Darren Holley, Company Secretary of betr Entertainment Limited.
This move signals betr Entertainment’s continued commitment to its takeover bid for PointsBet, streamlining the process by removing a potentially complicating factor related to employee incentives. The market will be watching closely to see how this development impacts the progress and ultimate outcome of the takeover offer.
