MIXI Inches Closer to PointsBet Takeover
Posted on: September 1, 2025, 04:07h.
Last updated on: September 1, 2025, 04:07h.
- MIXI announces it has more than 50% shareholder support in its bid to acquire PointsBet
- PointsBet Canada revenue from sports betting and igaming in FY 2025 was AU $42.9 million (US $28.1 million, 26% increase from FY 2024)
- No indication from MIXI that it intends to sell off PointsBet Canadian operations
The situation revolving around PointsBet Canada seems to have turned a corner, with the news that MIXI Australia Ltd. has boosted its voting power in PointsBet over the 50%, on top of some positive financial results for the Canadian operation.
MIXI Secures Majority Shareholder Support
MIXI Australia, a wholly owned subsidiary of MIXI Inc., made the announcement Friday, suggesting the takeover is a matter of “when”, not “if”.
On Aug. 21 MIXI announced it was increasing its all-cash offer to AU$1.30 (USD $.085) per PointsBet share, with the offer extended to Aug. 29.
As Casino.org has reported, the ongoing battle between MIXI and Betr for control of PointsBet, based in Australia, has had big Canadian implications.
All-Cash Offer
Betr’s share-based bid for PointsBet included selling off the company’s Canadian operation to Hard Rock Digital in a US $29.6 million deal. There’s been reporting that MIXI has no intention of selling off the Canadian operation, but Casino.org has yet to be able to get direct confirmation of that from MIXI.
In announcing that it has acceptances of more than 50% of PointsBet’s issued ordinary shares, MIXI extended the offer period for the takeover bid to Sept. 12, 2025.
The increased offer price applied if MIXI Australia acquired 90% or more of PointsBet shares and stays at the previous high offer of AU $1.25 (US $0.82) per share if the company acquires less than 90%. Betr holds 19% of PointsBet shares and has indicated in the past it has no intention of supporting MIXI’s takeover bid.
Revenue Up 6%
PointsBet’s board has unanimously recommended the MIXI bid, pointing to the “certainty of value” of the all-cash offer for PointsBet shareholders.
In the meantime, PointsBet reported its FY 2025 results (to June 30) Friday, reporting a reduction in net loss for the year, with revenue totalling AU $261.4 million (US $171.3 million), a 6% improvement compared to FY2024.
Financial results for Ontario, where PointsBet has been licensed and operating since market launch there in April 2022, has been robust, particularly on the online casino side, reflective of what has been going on overall in that market.
Casino Dominates Ontario Market
Last week iGaming Ontario released financial results data for July, where it was revealed that online casino now holds an 89% market share in terms of handle.
PointsBet Canada’s revenue from sports betting and igaming was AU $42.9 million (US $28.1 million, a 26% increase from FY 2024). Total net win came in at AU $43 million (US $28.1 million), a 26% increase from FY 2024.
Out of that, online casino net win was AU $26 million (US $17 million), a 39% increase from FY 2024, despite negative VIP variance on slots during H1. Sports betting net win was up 11%, at AU $17 million (US $11.1 million), despite customer-friendly NFL betting results in H1.
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