Australian gaming company PointsBet has actually validated it is turning down a proposal from gambling operator Betr to buy 80.1% of its shares. Instead, PointsBet will accept a deal from social media company MIXI.

- PointsBet has turned down a Betr takeover proposal and instead signed a contract with MIXI Inc.

• Betr provided to buy PointsBet shares at AU$ 1.20 each, however with 57% cash and 43% scrip
• MIXI offered to purchase each PointsBet share at AU$ 1.20 in cash
  
  The Betr proposition meant to buy 80.1% of PointsBet shares that the company does not currently hold, matching PointsBet's valuation of AU$ 1.20 per share. However, the Betr proposition to pay that value in 57% money and 43% scrip.
  
  According to PointsBet, 43% of the share value was directly connected to the worth of Betr shares. During its due diligence, PointsBet assessed the value this would offer shareholders, which peaked at AU$ 1.14 per share but fell as low as AU$ 1.04 per share.
  
  However, while this was PointsBet's main assessment, the company likewise took a longer-term view throughout its due diligence. This found that Betr's expense synergies were overemphasized which combination with PointsBet's Canadian operations was likely to prove hard.
  
  "The due diligence investigations undertaken by PointsBet reinforce the view of the PointsBet Board that the worth of the Betr proposition is materially below the AU$ 1.20 in money per PointsBet being provided by MIXI Australia," said the PointsBet release.
  
  Long PointsBet acquisition talks come to an end
  
  It's been several months because rumors of an acquisition of PointsBet first surfaced. Fanatics closed its acquisitions of PointsBet's U.S. operations in April 2024, paying $225 million to claim PointsBet's licensing facilities across the country. Fanatics used this to launch Fanatics Sportsbook.
  
  PointsBet issued a "Response to Media Speculation" in November 2024, rejecting a report that it went through an AU$ 300 million takeover bid.
  
  However, in 2025, the business began examining a number of bids. In February, the PointsBet Board leaned towards an acquisition by BlueBet, which provided around AU$ 240 million and AU$ 260 million. Other contenders consisted of MIXI and Betr.
  
  Betr increased its deal for 80.1% of PointsBet in May to around AU$ 360 million, with the business already holding a 19.9% stake. After PointsBet verified it was thinking about Betr's proposal in May and June, the most current news will come as a blow to Betr, with PointsBet favoring MIXI's offer.