MIXI Pushes Forward with Takeover Plans
MIXI Australia, a subsidiary of Japan-based tech company MIXI, has moved ahead with its plans to acquire PointsBet through an off-market takeover offer. This follows the failure of a shareholder vote that had previously derailed a similar arrangement. Despite obstacles, the company is pressing forward and has now received key regulatory approvals from Canadian authorities.
Competing Bids for PointsBet
The contest to acquire PointsBet has intensified over the past year. Initially, BlueBet offered AUD 340 million for the sportsbook operator in 2024. MIXI Australia countered early in 2025 with a higher bid of AUD 353 million.
The competition escalated when Betr Entertainment acquired BlueBet and raised the offer to AUD 360 million. Betr argued that business synergies would increase the effective value of its bid to AUD 1.33 per share. Although PointsBet acknowledged the strength of Betr’s offer, concerns about the validity of those synergy claims led MIXI to return with an improved offer of AUD 402 million, valuing each share at AUD 1.20.
Despite a shareholder vote influenced by Betr’s 19.9% stake rejecting the MIXI proposal, MIXI has continued to pursue the acquisition through alternative means.
Regulatory Clearance Strengthens MIXI’s Position
MIXI has now taken a critical step forward by securing regulatory approvals necessary for the deal to proceed. The Alcohol and Gaming Commission of Ontario (AGCO) raised no objections to MIXI’s offer, and iGaming Ontario also provided its consent. These approvals are vital due to PointsBet’s operations in Ontario, a key Canadian market.
Simultaneously, MIXI has met all regulatory requirements in Australia and is preparing to submit its bidder’s statement to the Australian Securities and Investment Commission. With these formalities in place, the acquisition edges closer to finalization.
Next Steps in the Acquisition Battle
Even with regulatory hurdles cleared, MIXI’s acquisition of PointsBet is not yet guaranteed. The final step remains a shareholder vote, where Betr could again use its stake to block the takeover. Despite this, MIXI’s persistence and regulatory momentum put it in a strong position as the battle for control over PointsBet continues.
Table: Summary of Bids for PointsBet
| Bidder | Bid Amount (AUD) | Value Per Share | Status |
|---|---|---|---|
| BlueBet | 340 million | N/A | Initial Offer |
| MIXI (initial) | 353 million | N/A | Countered BlueBet |
| Betr | 360 million | 1.33 (with synergies) | Deemed Superior by PointsBet |
| MIXI (current) | 402 million | 1.20 | Approved by Regulators |
