MIXI Australia Pty Ltd (MIXI) has received the green light from the nation’s regulators to take over PointsBet.

This marks a possible end to the months-long saga that was fiercely contested between MIXI and rival Betr Entertainment (Betr). The former has now come out on top, revealing that they have gained the approval of the Foreign Investment Review Board (FIRB) of Australia to move on PointsBet’s shares.

MIXI secures green light for PointsBet

As we reported, there has been a lengthy tale in the acquisition of PointsBet, with those in the race taking top spot several times. In early 2025, Betr seemed to have the upper hand in the share talks. Still, MIXI became the board of directors’ favourite shortly after PontsBet questioned the valuation of the other gambling operator’s offer.

Both parties are already existing minority shareholders in PointsBet, with Betr holding around 19.6%, compared to MIXI’s 9.15%.

However, MIXI’s initial offer had a lower shareholder acceptance threshold and led to the company, in the form of a pre-agreement, securing 17.18% of shares. These were agreed from holdings of directors and pre-bid agreements from institutional holders.

Betr makes improved offer

This turned the tide in favour of MIXI over Betr, which forced the now out-of-favour company to increase its takeover offer. Betr revealed that its offer would equate to $1.35 per share, as it released a statement discussing the offer in a last gasp attempt to sway stakeholders to change their minds.

“The improved offer is superior to MIXI’s offer of $1.20 cash per PointsBet Share,” said Betr in the financial statement. “Betr continues to firmly believe in the combination rationale and that we can create material value for PointsBet and Betr shareholders by integrating these two businesses, allowing us to profitably grow our share of the Australian wagering market.”

FIRB backs MIXI

MIXI has now revealed that the (FIRB) approval green-lights the company’s PointsBet shares takeover.

“MIXI Australia has today been notified by the Foreign Investment Review Board (FIRB) that the Commonwealth has no objection to the proposed acquisition by MIXI Australia of up to a 100% interest in PointsBet by way of an off-market takeover bid and other related methods as permitted under the Corporations Act 2001 (Cth) (Corporations Act),” read the company statement.

So the saga has come to an end, and now MIXI, failing any objections by PointsBet, will get the keys to the company’s betting kingdom.

Featured Image: MIXI official. 

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