PointsBet set for US$223.2 million takeover by Japan’s Mixi
Australian betting operator PointsBet is set to be acquired by Japanese sports and entertainment company Mixi in a deal worth AU$353 million (US$223.2 million). The announcement comes less than 24 hours after BlueBet confirmed its own bid, which ranged between AU$240 million and AU$260 million, with an additional potential consideration of AU$100 million. Despite its efforts, BlueBet’s takeover attempt has been unsuccessful, with PointsBet choosing Mixi’s offer.
BlueBet’s failed attempt and previous acquisitions
BlueBet had publicly disclosed its bid for PointsBet, including an official letter addressed to PointsBet Chairman Brett Paton and CEO Sam Swannell. The proposal, signed by BlueBet Chairman Matt Tripp and CEO Andrew Menz, outlined the terms of the offer.
If successful, this would have marked BlueBet’s third acquisition in the past year. In April 2024, the company acquired Betr, followed by an announcement earlier this month regarding its purchase of Australian sports betting operator TopSport. However, the Mixi takeover now eliminates the possibility of PointsBet joining BlueBet.
PointsBet’s share price surge following Mixi deal
Following the news of the Mixi acquisition, PointsBet’s share price surged 32.53 percent to AU$1.10. Over the past six months, the company’s stock has increased by 120 percent.
PointsBet’s Q2 FY 2025
Despite the sharp rise in share value, PointsBet reported a 34 percent year-on-year decline in wagering handle in its Q2 FY 2025 results, released last month. However, the operator posted a total net win of AU$69.9 million during the period.
While the company has faced challenges in maintaining market share, Mixi’s acquisition could provide new strategic direction for PointsBet’s operations. The deal is expected to reshape the company’s position in the highly competitive betting sector.
PointsBet dispels A$300 million takeover rumours
Recently PointsBet has dispelled rumours suggesting that it is in talks of being acquired by an unidentified company for a deal valued at about A$300 million.
A recent report by The Australian suggested that the betting powerhouse had started mergers and acquisition (M&A) negotiations with an Asian company. The deal would have been subject to numerous regulatory approvals, including from the Foreign Investment Review Board (FIRB). The report also implied that the ASX listed operator has been eyeing opportunities for a merger with other suitors.
The company came forward to address the matter and said it is not in M&A discussions as the article had suggested.
In addition, it said that if PointsBet was to enter into such a discussion, it will keep the market updated as required per ASX Listing Rule 3.1. The rule requires listed entities to immediately notify ASX of any information that a reasonable person would expect to have a material effect on the price or value of its securities.
