PointsBet might be changing tracks. The company is reviewing a takeover proposal from Betr Entertainment. This Betr acquisition proposal could turn out better than the current deal with MIXI.

• The PointsBet board received a proposal from Betr Entertainment to acquire the company, disclosed on 2 May 2025. The board, supported by external advisers, believes the Betr acquisition proposal could be a ‘Superior Proposal’ under the current circumstances. This evaluation is in comparison to the existing scheme with MIXI Australia Pty Ltd.

• PointsBet has now suggested a mutual due diligence process with Betr. This will be a staged review where both parties examine each other’s financial and strategic information. The initial focus is on synergy potential and the value of Betr’s scrip.

• The proposed transaction structure from Betr includes a 57% cash and 43% scrip mix. This means nearly half the value of the deal relies on the worth of Betr’s shares. That’s why PointsBet is prioritising verification of synergy value and scrip valuation in the early phase of due diligence.

• At this stage, shareholders are not required to take any action. PointsBet has committed to keeping both shareholders and the market informed as talks progress. The company clarified that it’s still early in the review process.

• Despite this new development, the PointsBet Board continues to support the MIXI Scheme. It still recommends that shareholders vote in favour of the MIXI deal unless a confirmed superior offer emerges. As the board stated, this recommendation holds unless the Independent Expert finds otherwise.

• A spokesperson said, “The Board remains committed to acting in the best interests of shareholders and will carefully assess the value and certainty of the Proposal from Betr.” This suggests the board is open to changes, but cautious in approach.