MIXI has struck a deal to acquire PointsBet, but rival BlueBet isn’t backing down.
The Japanese consumer tech giant has agreed to purchase all issued shares of PointsBet Holdings Limited for A$1.06 ($0.66) per share in cash, valuing the deal at A$353 million ($220.80 million).
The transaction is still subject to shareholder and regulatory approvals, with finalization expected by mid-June 2025. The PointsBet board has unanimously endorsed the offer, urging shareholders to support it, citing the attractive premium and the opportunity to cash in at favorable trading multiples.
Chairman Brett Paton described the agreement as “a compelling opportunity for PointsBet shareholders to realize certain cash value, at a significant premium to recent trading prices.”
CEO Sam Swanell noted that PointsBet carefully evaluated the offer against its long-term strategy and determined that MIXI’s bid “appropriately reflects the value of PointsBet’s world-class technology assets and reputation for wagering excellence in both Australia and Canada.”
MIXI, known for its mobile gaming, social networking, and sports team management businesses, has been steadily growing its sports betting footprint in Japan through its TIPSTAR platform, which recently achieved full-year profitability. The company sees Australia as a key growth market, citing the country’s strong betting culture and regulatory framework as compelling reasons for expansion. “Given Australia’s established culture of enjoying betting with family and friends, we consider it a very attractive market for expanding our social betting service,” MIXI stated.
But the deal isn’t done yet. BlueBet, a competing Australian wagering firm that merged with Betr last year, has put forward its own offer. The alternative bid consists of A$240 million ($150 million) to A$260 million ($162.6 million) in cash, plus an additional A$100 million ($62.55 million) to A$120 million ($75 million) in scrip consideration.
BlueBet argues that its proposal provides stronger strategic benefits, including an estimated A$40 million ($25 million) in synergies. In a letter to PointsBet shareholders, BlueBet’s leadership suggested that a deal with a scrip component could be more appealing than an all-cash buyout.
PointsBet shareholders will decide the fate of the MIXI acquisition in a special Scheme Meeting set for May 2025.
