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Game Lounge Industry Watch – MIXI Australia Secures Controlling Stake in PointsBet

MIXI Australia, a subsidiary of Tokyo-based tech giant MIXI, has secured a controlling 51.86% stake in PointsBet Holdings, marking a major milestone in the online betting industry. Backed by unanimous board approval, the A$1.25 per share takeover bid outpaced competing offers and will reshape PointsBet’s strategic direction, with regulatory conditions and post-offer restrictions now in place.
MIXI Australia Secures Controlling Stake in PointsBet

Tokyo-based entertainment and tech powerhouse MIXI, via its Australian subsidiary MIXI Australia, has successfully moved to acquire a majority stake in online bookmaker PointsBet Holdings, making PointsBet a controlled subsidiary of the Japanese business.
As of 5 September 2025, MIXI Australia held approximately 180.3 million PointsBet shares, corresponding to 51.86 % of voting power. Among these, 179.3 million shares are now registered and beneficially owned by MIXI Australia.

Valuation and Offer Progression

MIXI Australia’s current all-cash takeover offer stands at A$1.25 per share, declared as the final and non-extendable bid, set to close at 7:00 pm Melbourne time on 12 September 2025. Previously, a A$1.20 per share proposal valued PointsBet at approximately A$402 million (or US$260 million), representing a 44.6% premium over its pre-bid share price of A$0.83 in February 2025.

Board Support and Competing Proposal Collapse

PointsBet’s board has unanimously recommended the MIXI offer. The competing all-scrip bid from Betr Entertainment—offering 3.81 Betr shares for each PointsBet share—was deemed “materially inferior” and rejected by PointsBet’s directors due to its higher risk profile and uncertain value amongst shareholders In the wake of MIXI gaining control, Betr, which held approximately 20.45% of PointsBet shares, now cannot achieve control nor realise its proposed synergies.

Regulatory Outcomes and Board Control

Under Australia’s Corporations Act, MIXI Australia will be prohibited from acquiring additional PointsBet shares using the “3% creep rule” for at least six months following the close of the offer. It will also cease on-market acquisitions once trading ends on 12 September 2025. PointsBet has cautioned that if MIXI’s offer lapses without a superior bid, its share price is likely to fall in the short term.

Game Lounge Industry Watch