Key Points
- MIXI’s AU$402M takeover of PointsBet cleared Ontario’s AGCO approval on July 7, 2025, after Australian clearance, but Betr’s legal challenge over a voting error persists.
- Betr’s all-scrip AU$1.22 per share bid was rejected for MIXI’s cash offer, which offers a 44.6% premium, amid a consolidating betting market.
- Bettors should use licensed platforms and responsible gambling tools to stay safe, as ASIC probes the dispute and unregulated sites pose risks.
Japanese tech firm MIXI has secured approval from Ontario’s Alcohol and Gaming Commission (AGCO) for its AU$402 million all-cash takeover bid of PointsBet, announced July 7, 2025, clearing the final regulatory obstacle after Australian approval in June.
Despite shareholder support, rival bidder Betr, holding a 19.9% stake, continues to challenge the deal, citing voting irregularities. You’re witnessing a heated battle for Australia’s sports betting market, with implications for bettors and industry competition.
Why Ontario’s Approval Matters
MIXI’s AU$1.20 per share offer, a 44.6% premium over PointsBet’s February 2025 closing price, faced a setback when a June 25 shareholder vote was overturned due to a Computershare error excluding Betr’s votes.
Ontario’s AGCO approval, confirmed on July 7, satisfies the last regulatory condition, strengthening MIXI’s position. For you, this signals a likely shift toward a more globalized betting market, as MIXI, known for social media and gaming, aims to expand PointsBet’s operations in Australia and Canada. However, Betr’s legal challenge could delay the process.
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Betr’s Resistance and Industry Impact
Betr, led by Matthew Tripp, offered an all-scrip deal valued at AU$1.22 per share but was rejected by PointsBet’s board for lower liquidity and higher risks compared to MIXI’s cash bid. Betr’s claim of a “system error” in the June vote, which initially showed 95.69% support for MIXI, led to a recount revealing insufficient approval.
This ongoing dispute could affect PointsBet’s platform stability and promotions, as uncertainty lingers. The battle reflects a consolidating wagering market, with MIXI’s global reach potentially outpacing local players like Betr.
Challenges and Risks for Bettors
The takeover drama could disrupt PointsBet’s services, with potential delays in new features or market expansions. Unregulated offshore betting sites, which evade oversight, pose risks if bettors seek alternatives amid uncertainty.
X posts highlight mixed sentiment, with some praising MIXI’s cash offer for stability and others backing Betr’s local expertise. For you, sticking to licensed platforms ensures safety, as the Australian Securities and Investments Commission (ASIC) now probes the voting error, adding scrutiny to the deal.
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