Canadian Regulators Greenlight MIXI’s Takeover of PointsBet

MIXI Australia, the Australian arm of Japanese tech giant MIXI, has advanced its backup acquisition bid for sports betting powerhouse PointsBet. While the latter company’s shareholders failed to conclusively approve a previous arrangement, MIXI has proceeded with an off-market takeover and has secured additional regulatory approvals.

The Battle for PointsBet Rages on

PointsBet has been an acquisition target for a while, with BlueBet proposing to acquire its business in 2024 for AUD 340 million. In early 2025, MIXI Australia challenged this proposal and put AUD 353 million on the table instead.

Once Betr Entertainment acquired BlueBet, it picked up the pace, offering AUD 360 million instead. The proposal further suggested that inherent synergies between the businesses would result in tens of millions of Australian dollars in value. Betr asserted that its synergies would deliver a total value of AUD 1.33 per share.

At the time, PointsBet gave Betr’s proposal serious consideration, acknowledging that it was a superior proposal. As a result, MIXI raised the stakes, returning with an AUD 402 million proposal, offering a value of AUD 1.20 per share.

PointsBet has since gravitated toward the MIXI proposal due to concerns about potentially overstated synergies on Betr’s part. The latter company firmly rejected these allegations and later returned with an all-scrip deal, reiterating its synergy claims. After PointsBet struck that deal too, Betr, which owns a 19.9% stake in the sportsbook, swayed the results of a shareholder vote, rejecting the MIXI proposal.

MIXI Secures Final Regulatory Approvals

In line with its earlier promise, MIXI launched an off-market takeover offer, offering the same value of AUD 1.20 per share. The company said that it plans to submit its bidder’s statement to the Australian Securities and Investment Commission very soon.

At the same time, MIXI’s takeover proposal just secured approval from authorities in Canada. As a business with a significant presence in Ontario, PointsBet is also dependent on local regulators as far as takeover deals are concerned.

As it turns out, the Alcohol and Gaming Commission of Ontario (AGCO) expressed no concerns with MIXI’s proposal. At the same time, iGaming Ontario gave the thumbs up to the arrangement. In addition to that, MIXI has already cleared all other regulatory approvals and conditions in Australia.

As a result, MIXI has inched closer to acquiring PointsBet, despite Betr’s continued efforts to block that deal. However, that deal would also depend on a shareholder vote, providing Betr with another opportunity to leverage its shareholding to strike it down.