Betr Confirms Intention To Sell Off PointsBet Canada as Part of Takeover Bid
Posted on: July 18, 2025, 11:51h.
Last updated on: July 18, 2025, 11:51h.
- Betr increases offer to take over Australian-based PointsBet
- Deal would include selling off Canadian operations to Hard Rock Digital for US $29.6 million
- PointsBet directors recommend sale of company to Japanese firm MIXI
The back-and-forth industry pickleball match between Betr and MIXI for control of Australia-based igaming operator PointsBet took another turn, with PointsBet Canada very much in the crosshairs.
Betr’s Revised Offer for PointsBet
In a statement Wednesday, Betr Entertainment Ltd., the Australian igaming operator, which holds 19.6% of all PointsBet shares, upped its offer to 3.81 Betr shares for every 1 PointsBet share held, which the company says equates to AU$1.22 per PointsBet share (based on a $0.32 Betr share price, superior to the latest takeover offer from MIXI, the Japanese entertainment company, which sits at AU$1.20 cash per PointsBet share).
In the statement, Betr pointed to the “significant value creation” in merging the two companies ($44.9 million in expected annual cost synergies), which Betr says will equate to up to $0.67 per PointsBet share if realized.
PointsBet Canada Sale Part of Takeover Bid
The combination of the Offer Consideration (based on a value of $1.22 per PointsBet share) and the value of the cost synergies (estimated at up to $0.67 per PointsBet share) equate to up to $1.89 in potential value per PointsBet share,” the statement read.
That makes its offer superior to the MIXI bid, Betr said. MIXI updated its offer yesterday, which still sits at AU $1.20 per share, the change being that the new offer only requires 50% of PointsBet shareholders’ support. Reporting says MIXI already has 17% approval.
Added Betr in the statement from Wednesday: “This is just the start of the value creation journey we envisage for Betr and PointsBet Shareholders for the Combined Business. Significantly, in addition to this, PointsBet Shareholders can benefit from the additional longer term value upside and potential re-rating from the Betr management team’s unparalleled track record of success, and the advantages of scale in a fast-consolidating market.”
MIXI Improves Latest Bid
PointsBet directors have been recommending that shareholders accept the MIXI bid. A statement issued by PointsBet management yesterday recommended shareholders take no action in relation to the latest Betr offer.
There are big Canadian implications to all this. A key part of the Betr involves the sale of PointsBet Canada to Hard Rock Digital. PointsBet Canada is licensed and running in Ontario and intends to apply for a license to operate in Alberta when that igaming market goes live in in 2026.
A Betr news release on April 29 confirmed this: “We have received a non-binding proposal from Seminole Hard Rock Digital, LLC to acquire certain assets which relate to PointsBet’s Canadian operations, subject to various conditions precedent.” Hard Rock would pay Betr US $29.6 million for PointsBet Canada if this were to all go through and just focus on the Australian market.
PointsBet Directors Recommend MIXI Offer
In Betr’s latest bidder statement, that divestment would include the Ontario igaming license and operations, all Canadian customer databases and intellectual property, any other Canadian provincial licenses or applications, and Canadian-specific technology assets and platforms.
Casino.org has reported in the past that according to a senior industry source with connections to the company that Hard Rock Digital has begun the process of applying for an Ontario igaming license. That hasn’t yet been recorded in the online Alcohol and Gaming Commission of Ontario license database that the public can access as yet.
The AGCO has already signed off on MIXI’s proposed takeover bid for PointsBet. MIXI has no intention of selling off the Canadian operations.
A spokesperson from Hard Rock Digital told Casino.org the company had no comment on developments in Ontario to date.
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