PointsBet shares soar over 10%, hits 52-week high, as MIXI sweetens takeover bid
The shares of Richmond, Australia-based online sports betting platform, Pointsbet Holdings Limited (ASX: PBH) surged 11.1 percent to a 52-week high of A$1.205 today, 4 June 2025, following an from Japanese digital entertainment and sports giant, MIXI Inc. The all-cash proposal values the Australian-based betting operator at AUD$402 million (approximately US$260 million).
This latest development firmly positions MIXI as the frontrunner in a competitive bidding war for PointsBet’s non-U.S. operations, which span Australia, Canada, and Ireland.
Battle for PointsBet
MIXI’s enhanced offer of $1.20 per share means a 44.6 percent premium over PointsBet’s closing price of $0.83 on February 25, when MIXI first entered the fray with an initial bid of $1.06 per share. Crucially, MIXI’s revised proposal comes with no financing conditions, offering a high degree of certainty to PointsBet shareholders.
The PointsBet board has unanimously recommended the improved MIXI proposal, contingent on no superior offer emerging. To allow shareholders ample time to consider this new development, a scheme meeting originally slated for June 12 has been postponed to June 25.
This move by MIXI follows a period of intense competition, notably from Betr Entertainment (formerly BlueBet), which is PointsBet’s largest shareholder. Betr had previously submitted a counterproposal valued at AUD$360 million, which the PointsBet board had, at one point, deemed “superior” to MIXI’s initial offer. Betr’s offer included a mix of cash and scrip (shares in Betr), with a potential implied value of up to $1.33 per share. However, the certainty of MIXI’s all-cash offer appears to have swayed the board’s recommendation. Despite MIXI’s strengthened bid, Betr has indicated it is “likely to vote no” with its substantial shareholdings against the current MIXI proposal.
Strategic exit and global ambition
For PointsBet, this deal represents the culmination of a shift out of capital-heavy and highly competitive markets. The group already sold its U.S. operations to Fanatics Betting and Gaming for $225 million. This earlier sale was driven by the “high-cost operating market” in the U.S. and the “significant capital and further capital raises” required to compete effectively. The sale to MIXI for its remaining global assets signifies a complete exit from direct operational segments of the sports betting industry, aiming to unlock shareholder value.
MIXI, primarily known for its blockbuster mobile gaming franchise “MONSTER STRIKE” and social sites in Japan, is taking steps to further establish itself in the global market, and widen its revenue streams. The company already operates TIPSTAR, a successful online betting platform in Japan that stresses social interaction.
According to The World Folio, by acquiring PointsBet, MIXI aims to merge its expertise in community-based entertainment with what it describes as PointsBet’s robust infrastructure and advanced betting technology, to establish community-driven entertainment hubs on a global scale. This alignment allows MIXI to gain immediate access to established betting technology and an existing audience in key international markets like Australia and Canada.
According to analysts, PointsBet’s share price surge is an indication that the market is rewarding this strategic divestment. In an industry facing increasing regulatory pressures and high operational costs, the ability to successfully exit challenging markets and realise significant value for shareholders is a compelling narrative.
The shares of PointsBet closed 10.6 percent higher at A$1.2 on the Australia Stock Exchange on Wednesday.
