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Ontario scraps cap on charitable lottery seller commissions

The Alcohol and Gaming Commission of Ontario (AGCO) has made further changes to its lottery policies, this time to remove the cap on seller commissions for paper raffles and media bingo.

Ontario’s licensed charities may now negotiate directly with sellers and determine commissions themselves without a maximum ceiling or the need for AGCO approval. The changes will allow charities more freedom to potentially secure better commission rates tied to the cost of their services.

Charities must still receive AGCO approval for additional expenses and retain receipts for seller commissions paid. Licensing authorities will not require charities to submit documentation as part of the application process, but charities will remain subject to compliance audits.

In addition, the province’s gaming regulator has lifted its ban on seller commissions for Catch the Ace paper lotteries.

Catch the Ace progressive raffle lotteries are multiple-draw games with accumulating jackpots in which participants purchase tickets for a chance to win a percentage of the proceeds from the sale of tickets from one draw. The person with the winning ticket in each draw also gets the possibility of winning a cumulative jackpot by selecting a card from a standard deck of 52 playing cards and hoping it is the ace of spades.

The agency said it has made the changes to ensure these lottery products are aligned with other charitable gaming products in Ontario.

“As with all licensed charitable lottery events, charities must take the necessary steps to ensure that they are conducting and managing the lottery event within Ontario,” said the regulator in a statement. “Charities are reminded of their legal requirement to meet their obligations under the criminal code and with respect to conducting and managing a charitable gaming scheme.”

AGCO now allows charities to auto-bill subscriptions

Earlier this year, the AGCO made several updates to its charitable lottery licensing policies in response to stakeholder requests.

Among those new measures introduced in January was a provision to allow eligible charities to apply to offer opt-in subscriptions with automatic billing, as well as electronic raffle tickets that use a single number for multiple entries.

The regulator continues to update its charitable gaming approach with the goal of encouraging innovation within the sector while reducing the operational and regulatory burden on providers.

Ontario operators no longer need AGCO approval for RG training

In yet another regulatory change this year, the AGCO last month abandoned the rule that required gaming operators to seek the AGCO Registrar’s approval for the responsible gambling training they provide to casino and lottery staff.

RG training itself is compulsory for all staff in those sectors, but as of July 2025, operators have more freedom to develop their own programs without needing AGCO sign-off, as long as the training meets industry best practices and effectively prepares employees to recognize and respond to gambling-related harm.

That came just a few weeks after the regulator updated its comprehensive advice on how licensed operators can and should identify and support players at risk of harm.

Betway signs soccer icon Thierry Henry as brand ambassador

Super Group has signed up soccer icon Thierry Henry as a worldwide ambassador for its Betway brand.

The company announced on Tuesday that the former Arsenal, Barcelona and France striker will become “the globally recognized face of Betway’s soccer product.”

Betway offers sports betting in numerous markets across the world, including in Europe, Super Group’s leading market of Africa, and Canada. It is a licensed sportsbook in Ontario’s regulated market, along with several Super Group online casinos such as Jackpot City and Spin, and also has a sizeable presence in other provinces.

Henry is Arsenal’s all-time leading goalscorer and a two-time Premier League winner with the club. He later won six trophies including the UEFA Champions League with Barcelona, and he is a FIFA World Cup and UEFA European Championship winner with France. These days, he has dabbled in coaching and is a high-profile soccer analyst for Prime Video in the UK and for CBS Sports in the U.S.

“Thierry Henry is a true soccer legend and sporting great, and it is with immense pleasure that we welcome him into the Betway family of ambassadors and partners,” said Super Group CEO Neal Menashe. “Our deal with Thierry’s former club Arsenal has been a flagship part of our marketing strategy over the last two years. We look forward to sharing his expert insights and exclusive content with our customers across the world.”

The deal marks the start of domestic football leagues in Europe, in a season which will culminate in the 2026 FIFA World Cup, which will be held next summer across North America including in Toronto and Vancouver.

“Football’s always been about action and excitement, and that’s what Betway brings to fans in a unique way,” said Henry in the Super Group release. “I’m really looking forward to being part of something that connects people to the game they love.”

Any Ontario marketing must have RG focus

Super Group’s release referenced global use of Henry in Betway marketing. Canadian Gaming Business reached out to the company to ask about specific Canadian plans.

In Ontario, the only province in which commercial online gambling operators are recognized and regulated by the government, any use of Henry will have to be centered on responsible gambling measures. As of February 2024, the Alcohol and Gaming Commission of Ontario’s (AGCO) rules stipulate that active or retired athletes cannot be used in advertising and marketing, “except for the exclusive purpose of advocating for responsible gambling practices.”

“We will stick to the regulations and ensure he’s only used in safer gambling messaging in Ontario,” a Super Group spokesperson told Canadian Gaming Business.

Since Ontario’s change, operators have continued to partner with sports stars via a shifted approach in which the collaborations are entirely based around RG measures. BetMGM prominently uses Edmonton Oilers superstar Connor McDavid in this way, and will also do so with New York Yankees legend Derek Jeter via a new ambassadorial deal announced last month. BetVictor, as another example, enlisted former Toronto Raptor Tracy McGrady to serve as its face in Ontario.

What about other provinces?

While some Ontario-licensed operators’ only Canadian business is in that province, Betway has a large footprint across the country.

Super Group is reputedly the Canadian market leader outside Ontario, per H2 Gambling Capital data shown to Canadian Gaming Business. The parent company divulged this week that while its Ontario revenue grew 5% in the three months ended June 30, 2025, its revenue in the rest of Canada climbed 22%.

“This performance highlights the continued strength of all of our brands across Canada,” the CEO told Canadian Gaming Business in June. It has advertised prominently in Alberta for years, including at Oilers’ home games, and intends to apply for a license there when that province launches regulated iGaming in early 2026.

As an operator with a presence outside Ontario, Super Group will theoretically have more flexibility in how it uses the Henry deal elsewhere in Canada. “Elsewhere, we’ll adapt the consumer messaging in line with local regulations, as we do with all deals,” the spokesperson told Canadian Gaming Business of the Henry deal.

Menashe added to Canadian Gaming Business in June that while more than 80% of Super Group’s revenue is from iCasino brands, online sports betting “has an important role to play and brings a fundamentally different customer compared to our online casinos.”

Although Super Group shut down Betway in the U.S. last year and is now pulling out of the States entirely, Betway’s sports wagering will continue to be an important part of its offering in Ontario. The company will hope that Thierry Henry’s worldwide name recognition will help it capitalize on Canada’s soccer fandom and the World Cup excitement heading into 2026.

Caesars and NetGaming launch content in Ontario

Caesars‘ various online casino platforms have cast NetGaming content into Ontario’s deep iGaming pool.

Under a deal first announced last year, Caesars Sportsbook & Casino, Caesars Palace Online Casino and Horseshoe Online Casino now offer the supplier’s games in the province, the supplier confirmed on Tuesday. Titles such as Wicked Wins – Fortune Pick, Zeus’s Thunderbolt 5000 and American Wonder Reels are now live on Caesars’ three platforms in Ontario, as well as Michigan and New Jersey.

NetGaming called the launch “a significant milestone” for the studio as it continues to look towards charting new waters in North America. Additional market launches are expected soon. Other U.S. states to offer legal online casino gaming including Pennsylvania and West Virginia. NetGaming is already licensed in Pennsylvania and received interim license approval in West Virginia this week.

“We are delighted to see our games live with Caesars, one of the most iconic names in the gaming industry,” said NetGaming CEO Pallavi Deshmukh. “The launch in three major markets is just the beginning, and we’re excited about expanding further across North America. Our games are designed to entertain, and we’re confident they will resonate well with Caesars’ diverse player base.”

“We’re grateful to our partners at NetGaming for supporting our ongoing mission to deliver an enhanced gaming experience on our online casino platforms,” added Caesars Digital SVP and Chief iGaming Officer Matthew Sunderland. “We have consistently been impressed by the creativity of their game portfolio and look forward to continuing to offer innovative content that enriches our players’ experience through this partnership.”

NetGaming also has partnerships with other leading operators including BetMGM, which first introduced the supplier to the U.S. in 2023 and to Ontario in 2024, and Rush Street Interactive (RSI). It launched with RSI’s BetRivers in the province in June of this year, and intends to extend that deal to U.S. markets and Mexico in the coming months.

Meanwhile, Caesars continues to add more game studios to its Ontario casino offering. Last week, Play’n GO announced it had struck a new content deal with the operator in the province and four U.S. states.

Pragmatic Play, Sportradar lead SBC Awards 2025 shortlist

SBC has announced the nominees for the 12th edition of the SBC Awards, set to be handed out at Lisbon’s MEO Arena on Thursday, Sept. 18, the final day of SBC Summit 2025.

Celebrating excellence across the global betting and gaming industry, the ceremony will spotlight standout achievements from operators, industry leaders and suppliers across a broad spectrum of sectors, including payments, marketing and platform innovation.

This year’s edition has already broken records, with the highest number of nominations ever received across its 37 diverse categories, reflecting the industry’s growing commitment to delivering exceptional performance.

Leading the shortlist are Pragmatic Play and Sportradar, each earning seven nominations. Close contenders include BetConstruct and Betsson Group with six nominations apiece. Other standout nominees include Bragg Gaming, Campeón Gaming, Novibet, Playtech and Top Bet, each securing five nominations.

Returning to co-host the ceremony is football legend Peter Schmeichel, former Manchester United goalkeeper and UEFA European Championship winner, who previously brought his trademark charisma to the stage in 2024.

The 2025 edition of the SBC Awards will also mark the first year without dedicated affiliate categories. Instead, SBC will host a dedicated and expanded Affiliate Leaders Awards on Wednesday, Sept. 17, at the same venue.

“This industry never stands still. New talent, ideas, and technologies are constantly changing the game,” said SBC Founder and CEO Rasmus Sojmark. “The SBC Awards are our way of recognising those who are making a real impact and giving the community a moment to celebrate together.”

In the operator categories, alongside Betsson Group’s notable six nominations, TotoGaming also stands out with four nods, including Marketing Campaign of the Year and Innovation in Casino & Gaming Entertainment. Meanwhile, Kaizen Gaming and Campeón Gaming return to defend their titles in the Operator of the Year – Medium and Large categories, respectively.

The Casino Operator of the Year category includes names such as LeoVegas, Bally’s, Codere Online and Winbet. 1xBet, EstrelaBet and Sportsbet.io are among the frontrunners for Sportsbook Operator of the Year.

In the operator and supplier categories, competition for Employer of the Year includes Alea, Flutter Entertainment, Parimatch and Play’n GO, all aiming to take the crown from reigning champions SOFTSWISS. The Socially Responsible Initiative of the Year category features nominees such as Associação de Mulheres da Indústria do Gaming (AMIG), BGaming, EveryMatrix and Pay4Fun.

The Leader of the Year award will be kept under wraps until the night, with nominees and the winner to be revealed live during the ceremony.

In the payments and compliance categories, Noda and payabl. lead the way with nominations in all three awards: Payment Solution of the Year, Payment Innovation of the Year, and Fraud & Compliance Solution of the Year. MiFinity, Monnet Payments, OKTO, Pay4Fun, Paysecure and Trustly have also earned multiple nods across the categories.

The supplier categories, which will encompass 22 awards, will include several new additions this year, such as Aggregator of the Year and Crash Game of the Year.

Fast Track and BETBY will look to retain their titles in Acquisition & Retention Partner and Esports Supplier of the Year, respectively. Meanwhile, Delasport, Evolution, Evoplay, iGP, Optimove and Spotlight Sports Group are among the 15 companies competing for the Industry Innovation of the Year award.

Soft2Bet will return in pursuit of back-to-back wins for Innovation in Casino Entertainment and Innovation in Mobile, while Digitain will aim to defend its title as Sportsbook Supplier of the Year.

The sought-after Platform Provider of the Year award features a strong field of contenders, including EGT Digital, GiG, GR8 Tech, Sportingtech and White Hat Gaming.

Continuing SBC’s commitment to shining a light on the future stars of the industry, the evening will once again feature four Rising Star awards: Rising Star in Casino, Rising Star in Sports Betting, Rising Star in Sports Betting Innovation / Software, and Rising Star in Casino Innovation / Software.

The complete list of shortlisted companies is available on the SBC Awards website.

Please note that a separate ticket is required for attending the ceremony. You can find the available table and ticket options here.

Incentive Games expands reach with Ontario gaming license

Incentive Games gained market access in Canada’s most populous province, allowing the games provider to expand its global reach.

The British B2B software and games provider announced on Monday that it was awarded a gaming license by the Alcohol and Gaming Commission of Ontario (AGCO). The licensing allows Incentive Games to provide its portfolio of content to operator partners across Ontario. Incentive Games was awarded the license after completing the AGCO’s stringent application process, which included an evaluation of security protocols and responsible gaming measures. The process also ensured Incentive Games’ ability to adhere to regulations.

“Ontario represents a huge opportunity for us, and securing this license is a proud moment for the whole team,” said Incentive Games CEO John Gordon. “It reinforces our dedication to meeting the highest standards while delivering compelling real-money content. We’re looking forward to building strong relationships in the region and continuing our momentum across regulated markets worldwide.”

Incentive Games will deliver online casino content in Ontario provided by its in-house studio. Incentive Games launched its new studio division in June with plans to develop both original and enhanced real-money games. Incentive Studios is currently developing a library of original online casino titles with a series of games expected to be released in Q3 2025.

Incentive Games will also be leveraging its partnership with Light & Wonder to expand the reach of its content. The partnership, forged in April 2025, allows Light & Wonder to distribute content from Incentive Games to operator partners in regulated markets.

The distribution deal gives Incentive Games access to free-to-play and real-money players in Canada, the U.S., South Africa, the U.K. and other select markets throughout Europe.

Incentive Games also has a content distribution deal with Aristocrat Interactive.

New licenses for Incentive Games

The games provider has also recently secured gaming licenses in Michigan and the U.K.

The UK Gambling Commission issued Incentive Games a gaming license in March allowing the gaming company to offer its real-money games to licensed operators in the region.

Three months later, Incentive Games gained access to a regulated online casino market in the U.S. after being awarded a license by the Michigan Gaming Control Board. That license marked Incentive Games’ first foray into the American gaming market.

Las Vegas casinos feel impact of Canadians staying away

A comparative lack of Canadian visitors to casino resorts is a significant factor in Las Vegas traffic falling for a sixth-straight month, according to the Las Vegas Convention and Visitors Authority (LVCVA) and major casino operators.

LVCVA data for June released this week showed that total visitation to the resort city fell by 11.3% to 3.1 million. June was the sixth month in a row in which the number of Vegas travelers fell year-over-year, but the first month in which the drop-off was in the double digits in more than four years.

Canadian visitors make up a small but important proportion of Vegas traffic. Visitors from north of the border comprised 3.6% of total visitors to the Nevada hub in 2024, per official data.

Steve Hill, LVCVA president and CEO, said in July that visitation from Canada to Vegas was down roughly 15% through the first half of 2025. In June, the number of Canadians flying to Harry Reid International Airport, which is five kilometres from the Las Vegas Strip, fell by around one-third compared to June 2024.

Put simply, it seems the allure of the bright lights of Vegas casinos and other attractions in the city is not quite as alluring as it once was.

Part of a wider trend

The wider context at play here is continued tension between Canada and its southern neighbour under President Donald Trump in a year that has been characterized by tariffs imposed between the two countries, not to mention the Canadian public opinion on Trump’s talk of Canada becoming the 51st U.S. state.  Trump signed an executive order this week to increase the tariff rate on certain Canadian goods from 25% to 35%.

For months now, data has suggested that Canadians are feeling less inclined to cross the border, and Statistics Canada data found that the total number of people traveling to anywhere in America from Canada was down 22.1% year-over-year in June.

Airlines have responded. Air Canada EVP and Chief Commercial Officer Mark Galardo said on an earnings call this week that Canada’s largest airline has discontinued some routes between Canada and the U.S. and also cut back its flights to Vegas.

“We think we’re going to restore some of that capacity gradually,” he added. “But, right now, we continue to plan an environment where things stay the same, where there’s no real improvement in the overall demand.”

Casino execs feeling the impact

On earnings calls this week, the CEOs of major casino operators MGM Resorts International and Caesars Entertainment referenced declining Canadian visitation as part of wider declines in traffic.

Caesars CEO Tom Reeg said on July 29 that Vegas “started leaking as a market” in May and that trend accelerated into June.

“The international business, particularly Canadian, is softer,” added Reeg. “If you look at our missing room nights this year, Canadians are a significant piece of that, even though there are only 3% or 4% of the total pie for us.”

“I think international visitation has been an issue, not only for Las Vegas but a lot of destinations,” added MGM chief executive Bill Hornbuckle the following day. “But, particularly earlier in the year with Canada — we host a lot of hockey games, by way of example — we saw visitation down. I know it’s still down.”

Hornbuckle and Reeg insisted that they expect the decline to be temporary and to reverse at some point down the line. But, for now, Vegas resorts cannot count on the level of Canadian travel they are used to.

A boost for Canadian casinos?

Vegas’ loss may be Canadian casinos’ gain.

VICI Properties is not a casino operator but does own dozens of casinos and other properties across the U.S., including Caesars’ Harrah’s Las Vegas and MGM Nevada staples such as the MGM Grand Las Vegas and Mandalay Bay.

Among the properties it owns and leases back to casino operators are eight venues in Alberta, four run by Century Casinos and four under Pure Canadian Gaming branding. The casino operations of the four Pure Canadian Gaming venues are now controlled by Indigenous Gaming Partners (IGP), a company established by five Nova Scotia-based First Nations communities in partnership with Sonco Gaming, which acquired Pure Canadian Gaming’s operating assets at the end of last year.

Speaking on VICI’s earnings call on July 31, the company’s President and COO John Payne noted that the firm has seen an uptick in its Canadian properties.

“We have been very pleased with the performance of the assets in Canada,” he said. “I think it’s still a little bit too early to say exactly why they’re seeing an uptick, but I think you’re on to something that more Canadians are staying at home and visiting the local assets there, and the performance of those assets has been quite good this year.”

BetRivers parent Rush Street Interactive enjoying big gains in Ontario

BetRivers‘ performance in Ontario was a significant driver of what was an all-time record quarter in several key metrics for Rush Street Interactive (RSI).

Across all markets, the casino and sportsbook operator posted its ninth successive quarter of record revenue and adjusted EBITDA for the three months ended June 30, 2025.

Adjusted EBITDA soared 88% year over year to around $55.7 million CAD and revenue across all markets rose 22% to more than $372 million CAD, helping RSI to post a net income of $39.9 million CAD versus a net loss of $0.4 million CAD during the second quarter of 2024.

CEO Richard Schwartz said on an earnings call on July 30 that its Ontario revenues grew 25% year over year, the fastest annual growth rate RSI has seen in the province in a quarter since 2023.

The company also reported a record number of first-time depositors across North America, and monthly active users (MAUs) in Canada and the U.S. reached approximately 197,000, up 21% year-on-year. The average revenue per MAU in the U.S. and Canada hit $391 USD, a new quarterly high since the company went public. That is equivalent to $541 CAD. While it’s not an apples-to-apples comparison, that is well above the $303 CAD average revenue per MAU that was reported for June across all 50 iGaming Ontario-registered operators.

Dual threat in Ontario market

Ontario is one of a small handful of jurisdictions in North America in which commercial gambling operators are approved to offer both online sports betting and online casino.

Schwartz noted that RSI is a “casino-first” operator, and Ontario is certainly a casino-first market; nearly $6.4 billion CAD of the more than $7.2 billion CAD wagered across all iGO operators in June came on online casino, an all-time high proportion of 88% of wagering by dollar amount. Nearly 80% of Ontario operators’ gaming earnings came from iCasino, and the total online casino GGR of $243 million CAD was up 41.5% year over year.

iGO does not break down its numbers by operator, so we do not know BetRivers’ market share in Ontario.

“We’ve invested a lot of energy in Ontario,” Schwartz added. “Given the size of the population, the market size and the existence of both sports and casino, it’s an area we have been focusing on. It’s hard to tell whether our growth is at the expense of grey market operators that compete in the market. Obviously, those numbers aren’t published, so it’s hard to track exactly how they are being impacted.

“All we can do is focus on the fact that we’re in a really large market with upside for us and make sure we continue to innovate and find ways to grow our player base in that jurisdiction.”

Another two-pronged Canadian market awaits

RSI executives and analysts on the call noted that RSI continues to have a strong balance sheet, with $241 million USD cash on hand and no debt.

Chief Financial Officer Kyle Sauers noted that the biggest opportunity for the use of that money is when new markets open up, particularly those that will offer both online casino and sports betting.

Those are hard to come by in the U.S., but 2026 will bring the launch of Alberta, which many in the industry are expecting to broadly resemble Ontario by allowing numerous operators to acquire licenses to offer both online casino and sports wagering.

Schwartz reiterated that RSI is excited about its expansion plans, which include launching BetRivers in Alberta when the province opens its doors early in 2026. Alberta, he said, will provide the company with a significant opportunity to leverage its success with BetRivers in other North American online casino markets.

Betty renews partnership with geolocation provider GeoLocs

GeoLocs is maintaining its partnership with Canada-focused online casino brand Betty.

The geolocation business arm of mkodo announced on Thursday a renewal of its partnership contract with Betty, providing the operator with its suite of compliance and security services. As part of the renewed deal, GeoLocs will ensure Betty adheres to geolocation and regulatory standards throughout Ontario. Betty and GeoLocs began collaborating in 2023 to prevent unauthorized gaming access.

“Betty has consistently demonstrated a strong commitment to responsible and legal gaming, and we’re delighted to be continuing our partnership with Betty to support their efforts with our best-in-class geofencing technology,” said mkodo Commercial Director Will Whitehead. “Renewing this partnership reflects our shared dedication to compliance, innovation and user protection as the regulatory market continues to evolve.”

GeoLocs provides Betty with geolocation services designed for online casino operators with licensing from the Alcohol and Gaming Commission of Ontario. GeoLocs is also ISO27001:2022–certified for its iGaming services. GeoLocs and mkodo received the internationally recognized standard for information security systems following an arduous certification process.

The process included an evaluation of polices and procedures. Protection plans for data breaches and other threats were also required.

Busy summer for Betty

Over the past couple of months, Betty has secured major deals to continue its expansion.

Betty secured a multiyear partnership with Maple Leaf Sports & Entertainment (MLSE) in June, becoming an official online casino partner of the Toronto Maple Leafs and Toronto Raptors. Via the deal, which begins at the start of the 2025-26 NHL season, MLSE-owned sports properties and Betty will team up to deliver fan activations for sports fans.

MLSE also owns Toronto FC, the Toronto Argonauts and Raptors 905.

Earlier this month, Betty and Bragg Gaming Group agreed to a content partnership in Ontario. The deal provides Betty players with access to games featuring Bragg content and mechanics. Bragg’s operator partners also include FanDuel, DraftKings and BetMGM.

In Q2 2025, Betty reported a net revenue run rate of $184 million with 70,000 active players in Ontario. Earlier this year, the operator agreed to a $15 million credit facility secured through CadaCredit which will help Betty acquire new customers.

DraftKings rolls out Playson Hold and Win games in Ontario

DraftKings has added Playson to its roster of online casino content partners in Ontario’s regulated market.

The U.S. gaming giant will integrate the supplier’s content via Light & Wonder’s aggregation platform and offer Playson’s most popular titles, including Coin Strike: Hold and Win, Thunder Coins: Hold and Win and Diamonds Power: Hold and Win to DraftKings Casino players in Ontario.

Playson said in a release that the agreement will further strengthen its foothold in Ontario and supports its long-term vision of expanding its reach across regulated territories through strategic alliances with key operators.

“Partnering with DraftKings is a major step forward for Playson in Ontario,” said Playson’s head of LatAm Cristhian Zito. “DraftKings is a brand synonymous with excellence in digital gaming, and we are thrilled to see our top content become part of their offering. This collaboration reflects our commitment to delivering engaging experiences to regulated markets and reinforces our strategy to grow in North America through trusted, high-profile partners.”

Light & Wonder distributes Playson content to operators like DraftKings in Canada and beyond via a deal signed at the start of this year. That deal gave Playson significant reach not just in Ontario but in other provinces, as Light & Wonder works with numerous crown lottery corporations on their casino and iGaming offerings, as well as multiple commercial operators in Ontario’s regulated market.

For DraftKings, it’s the latest addition to its Ontario online casino slate.

In March, the Boston-based operator teamed up with Games Global studio OnAir Entertainment to add four 24/7 bespoke online blackjack games in the province, including two exclusive VIP tables which operate 24/7 and are broadcast from OnAir’s studio in Tbilisi, Georgia.

Before that, in January, DraftKings added Relax Gaming’s portfolio of content to its Ontario slate.

PointsBet calls upon Australian government to intervene in Betr bid

Australian sportsbook Betr has seen a newly increased offer to acquire PointsBet rejected again after the latter company enlisted the Australian government to intervene.

In its latest all-share offer filed on July 30, Betr offered 4.219 of its own shares in exchange for every PointsBet share not already owned by Betr. As the firm said about its previous bid, which offered 3.81 shares per outstanding share, Betr is confident its proposal is “superior” to the all-cash bid from Japanese company MIXI.

That MIXI offer, of $1.20 AUD per PointsBet share, has been unanimously recommended by PointsBet’s board. Betr says its latest proposal equates to $1.35 AUD per PointsBet share.

“We continue 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,” Betr said in a statement. “That upside is not available to PointsBet shareholders under the inferior all-cash MIXI offer.

“PointsBet shareholders should continue to take no action until both offers are open. We expect the PointsBet board will reconsider its recommendation that PointsBet shareholders accept the MIXI offer and will now recommend the Betr offer.”

Betr’s offer includes a provision to sell PointsBet Canada‘s assets, including all current and future Canadian operations and market licenses, customer databases and intellectual property, to Hard Rock Digital for around $40.5 million CAD.

Despite its plea, PointsBet again rejected its compatriot sportsbook’s latest bid.

MIXI quietly builds superior shareholding

Betr already owns 19.6% of PointsBet, which initially appeared to give it something of an advantage over MIXI in the battle to take over the Ontario-licensed sportsbook and online casino.

However, as the back-and-forth continues, MIXI Australia has quietly built up its own shareholding and now owns more of PointsBet than Betr does — around 25% as of July 30.

Plus, as well as the shareholding advantage and the recommendation of PointsBet’s leadership, MIXI’s attempt to buy PointsBet has already satisfied all gaming regulatory approvals, including from Australia’s Foreign Investment Review Board and from the Alcohol and Gaming Commission of Ontario (AGCO).

Government steps in after PointsBet request

PointsBet rejected Betr’s previous offer last week, citing the share-dependent nature of the bid, Betr’s “less valuable and volatile VIP-heavy customer base” and “sub-scale” horse racing-heavy betting business as reasons. PointsBet also claimed that due diligence found that 65% of PointsBet and Betr’s aggregate net win comes from customers who have an account on both sportsbooks, a crossover which it said limited the appeal of the deal.

This week, before Betr filed its newest bid on July 30, PointsBet appealed to the Australian government’s Takeovers Panel, asking it to intervene against Betr’s previous “highly misleading” proposal.

PointsBet also accused Betr of inflating its own share price by announcing an $80 million AUD selective buy-back for shareholders who accepted the previous bid, and claimed that Betr chairman Matthew Tripp failed to disclose the true extent of his and his associates’ voting power within Betr.

The Takeovers Panel’s response was to issue an interim order to restrain Betr from dispatching its bidder’s statement. Betr swerved the issue by launching its newest bid hours later.

MIXI’s current bid only requires 50% approval. MIXI’s entire 25% holding will presumably vote in favour, giving it a strong chance of passing this time around after the previous on-market proposal did not get the required 75% support at a shareholders’ vote in late June.