Australian gambling business PointsBet has actually validated it is declining a proposal from gambling operator Betr to purchase 80.1% of its shares. Instead, PointsBet will accept an offer from social media service provider MIXI.

- PointsBet has rejected a Betr takeover proposition and rather signed an agreement with MIXI Inc.

• Betr provided to shares at AU$ 1.20 each, but with 57% money and 43% scrip
• MIXI provided to purchase each PointsBet share at AU$ 1.20 in money
  
  The Betr proposition intended to purchase 80.1% of PointsBet shares that the company does not already hold, matching PointsBet's appraisal of AU$ 1.20 per share. However, the Betr proposition offered to pay that worth in 57% cash and 43% scrip.
  
  According to PointsBet, 43% of the share value was directly tied to the worth of Betr shares. During its due diligence, PointsBet examined the worth this would offer investors, which peaked at AU$ 1.14 per share however fell as low as AU$ 1.04 per share.
  
  However, while this was PointsBet's primary evaluation, the business likewise took a longer-term view throughout its due diligence. This discovered that Betr's expense synergies were overstated and that combination with PointsBet's Canadian operations was likely to show tough.
  
  "The due diligence examinations undertaken by PointsBet enhance the view of the PointsBet Board that the worth of the Betr proposition is materially listed below the AU$ 1.20 in cash per PointsBet being provided by MIXI Australia," stated the PointsBet release.
  
  Long PointsBet acquisition talks pertain to an end
  
  It's been a number of months given that reports of an acquisition of PointsBet initially emerged. Fanatics closed its acquisitions of PointsBet's U.S. operations in April 2024, paying $225 million to declare PointsBet's licensing facilities throughout the nation. Fanatics used this to introduce Fanatics Sportsbook.
  
  PointsBet issued a "Response to Media Speculation" in November 2024, declining a report that it went through an AU$ 300 million takeover quote.
  
  However, in 2025, the company began examining numerous bids. In February, the PointsBet Board leaned towards an acquisition by BlueBet, which provided around AU$ 240 million and AU$ 260 million. Other competitors consisted of MIXI and Betr.
  
  Betr increased its deal for 80.1% of PointsBet in May to around AU$ 360 million, with the business already holding a 19.9% stake. After PointsBet verified it was thinking about Betr's proposition in May and June, the most current news will come as a blow to Betr, with PointsBet favoring MIXI's deal.