Mixi Australia now owns more than 50% of PointsBet Holdings. Crossing that threshold gives them majority control and extends the takeover offer to September 12.
PointsBet runs sports betting and iGaming in Australia and Canada. Rival bidder Betr Entertainment is still in the race, but Mixi’s stake now gives them the upper hand.
Why Majority Control Matters
Hitting 50% triggers automatic extensions under Australian law. Betr’s competing bid loses weight, as their assumptions about operational control no longer hold.
Mixi criticized Betr’s financing too. Their 13% interest loan structure could reduce shareholder value, whereas Mixi’s cash offer is straightforward and certain.
What Mixi’s Offer Looks Like
Mixi offers AU$1.25 per share in cash, valuing PointsBet at around AU$500 million. Shareholders have until September 12 to accept, with payment promised within 10 business days of acceptance.
The all-cash structure contrasts with Betr’s stock-based offer, which Mixi called unrealistic.
How This Consolidates Mixi’s Position
Majority ownership gives Mixi serious leverage over PointsBet’s future. Minority shareholders now decide whether to sell, but Mixi already holds effective control.
The deal moves Mixi closer to full ownership of PointsBet’s Australian and Canadian operations, ending months of back-and-forth with Betr.
