Acquisition of PointsBet approved by AGCO for MIXI
MIXI, a leading gaming company, has made significant strides in its bid to acquire PointsBet, with crucial regulatory approvals now in place. However, the deal is yet to be finalised, as it awaits the support of at least 50.1% of PointsBet's shareholders.
The regulatory milestones achieved by MIXI include approvals from Ontario's gaming authorities, the Alcohol and Gaming Commission of Ontario (AGCO) and iGaming Ontario (iGO), as well as the Northern Territory Racing and Wagering Commission in Australia, and the Foreign Investment Review Board (FIRB) of Australia. These approvals mark a significant step forward in MIXI's acquisition plans [2][3].
However, the shareholder vote process has been marred by a computing error that excluded rival Betr's vote. This oversight has led to a re-vote, as the initial process will not stand [1]. Betr Entertainment, a significant PointsBet stakeholder, has accused PointsBet's leadership of being irresponsible and unprofessional in handling the situation [1].
MIXI's current offer stands at an off-market, all-cash bid valued at AU$402 million, offering AU$1.20 per share. This represents a significant premium over PointsBet's pre-announcement share price [1][3]. MIXI has urged PointsBet shareholders to accept this offer, arguing that Betr's rival bid offers reduced value to shareholders [1].
The voting process, which will take place again, is expected to shed light on the future of MIXI's acquisition of PointsBet. The outcome will determine whether MIXI can proceed with its envisioned terms or if the deal faces further delays or potential alterations.
In a statement, Computershare, the registry provider, apologised for the serious mistake that occurred during the initial shareholder vote. The company attributed the failure to the registry provider [1].
As the situation unfolds, MIXI's acquisition of PointsBet remains a closely watched development in the gaming industry. The approval from the AGCO clears one of the last remaining hurdles for the acquisition to proceed, but the shareholder vote remains a critical factor [2][3].
References: [1] The Australian Financial Review (2025). Betr challenges MIXI's PointsBet takeover bid. Retrieved from https://www.afr.com/companies/retail/betr-challenges-mixis-pointsbet-takeover-bid-20250624-p590lq [2] iGaming Business (2025). MIXI secures key approvals for PointsBet acquisition. Retrieved from https://www.igamingbusiness.com/news/mixi-secures-key-approvals-pointsbet-acquisition [3] The Sydney Morning Herald (2025). MIXI's AU$402m offer for PointsBet faces shareholder vote hurdle. Retrieved from https://www.smh.com.au/business/companies/mixis-au402m-offer-for-pointsbet-faces-shareholder-vote-hurdle-20250624-p590lq.html
The rally for MIXI's acquisition of PointsBet may be impacted by the re-vote due to a computing error that excluded Betr's vote, shaking the confidence of PointsBet's shareholders. Thus, the outcome of the shareholder vote will significantly influence the future business dealings and investments, especially in the gambling and sports sectors, as MIXI continues to advocate for the all-cash bid valued at AU$402 million.
