Japanese entertainment and technology giant MIXI says that PointsBet is now a subsidiary of its Australian arm, as MIXI Australia has gained majority control of the Australian sportsbook.
As of Sept. 11, MIXI Australia is the registered and beneficial owner of approximately 214 million PointsBet Holdings shares, a stake that represents majority ownership, and holds 61.59% of the voting power in the online sportsbook that it is trying to acquire.
MIXI Australia has an all-cash takeover offer of A$1.25 (C$1.14) per share on the table. The bid, which has been accepted by every PointsBet director and unanimously recommended by the board, expires on Sept. 12. PointsBet CEO Sam Swanell and the company’s leadership have firmly endorsed MIXI’s various offers at every stage of the months-long takeover battle with Australian sportsbooks betr (formerly BlueBet).
“MIXI Australia now has control of PointsBet, which is now a controlled entity and subsidiary of MIXI Australia,” said MIXI in a statement on Sept. 8. “Amongst other things, this means that betr will not be able to achieve control of PointsBet nor realize the synergies estimated in its replacement bidder’s statement.”
MIXI has no intention of working with rival betr
Swanell described betr’s competing all-stock offer as “hostile and unsolicited,” and labeled betr’s business “very inferior” to PointsBet’s, advising shareholders that they would be short-changing themselves by receiving betr shares in return for an effective reduction in holding in PointsBet.
betr holds around 20% of PointsBet shares but now has no shot at gaining majority control of PointsBet. betr leaders have said multiple times that they will vote their entire holding against the MIXI offer.
MIXI Australia added in its statement that while betr leaders have suggested there is scope for “potential synergy realization” through a collaboration with a MIXI-controlled PointsBet, MIXI has no intention of doing so.
“MIXI Australia does not intend to engage (nor to procure that PointsBet engages) in any such collaboration with betr,” added MIXI’s filing.
PointsBet executives previously disputed betr’s suggestion of potential cost synergies, pointing to betr’s unfavorable operating model and significant existing overlap between PointsBet and betr customers.
PointsBet’s new era awaits in Canada
PointsBet offers online sports betting only in its home country of Australia. In Ontario’s regulated iGaming market, it has both a sportsbook and an online casino, and it also intends to pursue that dual-vertical model in Alberta.
MIXI’s mooted takeover of PointsBet has already secured all required gaming regulatory approvals for the mooted takeover, including from the Alcohol and Gaming Commission of Ontario (AGCO).
betr’s proposal to take over PointsBet includes a provision to sell PointsBet Canada operations to Hard Rock Digital for around C$40 million. MIXI has not publicly declared any specific intentions for PointsBet Canada’s business if it completes its takeover.
Meanwhile, PointsBet reported in late August that its total Ontario market revenue rose 26% year over year to around C$38.5 million for the Australian fiscal year 2025 (July 1, 2024 to June 30, 2025). Its Ontario online casino handle broke the C$1 billion barrier (up 27%), while its sports betting handle was up 39% year over year to C$318.8 million. Its online casino net win in the province rose 39%, while its sportsbook net win grew 11%.
The operator’s number of active players in Ontario increased 30%, and Swanell noted a growing number of customers are playing both sports betting and online casino. “Our Canadian business finishes the year with a reduced reliance on high-stakes clients, a more diversified revenue base and revenue growth momentum,” he said on an Aug. 28 call.
Swanell added on the call that PointsBet now expects Alberta to launch regulated iGaming in Q4 of the Australian FY26, equating to April to June 2026.
When it does go live, PointsBet Canada CEO Scott Vanderwel told Canadian Gaming Business last year that the company intends to offer a full online casino and sportsbook product from day one of the Alberta market, as well as sports betting. “We see Alberta as not just another market, but as a critical region that can help shape our future,” he said.
