Betr Proposes a Fresh Strategy for PointsBet's Point-scoring Battle
In a recent development, **Betr** has put forth an improved all-share takeover proposal for **PointsBet**, valuing the latter at up to AU$1.89 per share when accounting for projected synergies[1]. This offer, structured as a share swap of 3.81 Betr shares for each PointsBet share, is set to open on 31st July 2025 and close on 8th September 2025, subject to extension[1].
The initial response to Betr's proposal was met with concerns about projected synergies by PointsBet, but these concerns were later alleviated[1]. Notably, Betr's earlier criticism of PointsBet's leadership was due to a technical failure that failed to account for Betr's votes in the initial voting process[1].
Betr's offer contrasts with the earlier all-cash offer of AU$1.20 per share from **MIXI**, which had already received regulatory approvals but failed to pass the shareholder vote threshold due to Betr's intervention[1]. If the deal with Betr goes through, PointsBet shareholders could potentially gain up to AU$44.9 million in synergies[1].
A comparison of the two offers reveals that MIXI's bid is a straightforward cash deal, offering immediate certainty, while Betr's offer involves shares in a merged entity and includes a promise of significant future value from cost synergies[1][3].
PointsBet, however, maintains that MIXI's offer is superior, citing the certainty of cash and the regulatory approvals already in place[2]. MIXI has yet to respond to Betr's improved offer, and the final outcome remains uncertain[1].
Betr is leveraging its existing 19.6% stake in PointsBet and arguing that shareholders should consider the long-term upside of a merged, ASX-listed digital wagering operator, rather than the immediate cash offer from MIXI[1][3]. The acquisition battle for PointsBet is ongoing, with Betr offering a marginally higher nominal value and a case for future upside through synergies and equity in a combined company, while MIXI's offer provides immediate cash and greater transactional certainty[1][2][3].
The outcome now depends on shareholder sentiment, regulatory developments, and whether either party is willing to further improve its terms. The combined business is envisioned to be the start of a value creation journey for both Betr and PointsBet shareholders.
- In light of the contrasting offers from Betr and MIXI, the sportsbook industry is witnessing a fascinating business battle for PointsBet, with shareholders weighing the immediate cash offer from MIXI against the potential long-term value and synergies promised by Betr.
- The finance landscape of the online sports betting business is undergoing a significant shift, as the competition between Betr's equity-focused offer and MIXI's cash-only bid could set precedents for future mergers and acquisitions within the industry.
