MIXI Australia has secured majority ownership of PointsBet Holdings, acquiring over 180 million shares that represent 51.86% of the operator’s voting power. This acquisition officially makes PointsBet a subsidiary of the Japanese company, signaling a major turning point in the highly competitive takeover battle that has gripped the Australian betting industry.
The development follows MIXI’s A$1.25 per share cash offer, which was recommended by PointsBet’s board and declared final, set to close on 12 September. By surpassing the 50% threshold, MIXI has effectively blocked rival bidder betr, which had launched an unsolicited all-stock reverse takeover bid. Betr, currently holding 20.45% of PointsBet shares, now faces an uphill battle to maintain influence.
The implications of this acquisition are significant. MIXI Australia’s control prevents betr from achieving its projected synergies, while PointsBet’s board has already confirmed MIXI will gain proportional board representation. At the same time, the board has indicated that it will reject any attempt by betr to appoint affiliated directors, citing competitive conflicts.
This decisive ownership change brings both opportunities and uncertainties. On one hand, MIXI’s entry provides PointsBet with the stability and financial support of a major Japanese investor. On the other, analysts warn that if MIXI’s offer lapses without further developments, PointsBet’s share price could face downward pressure.
The takeover also highlights the regulatory and corporate dynamics in Australia, with the Takeovers Panel granting adjustments to betr’s obligations following MIXI’s acquisition. For now, PointsBet finds itself under new ownership, while the broader iGaming sector watches closely as the dust settles from one of the industry’s most closely followed battles.
