MIXI has confirmed its control of PointsBet, with its final share of the Australian bookmaking company getting up to 66.43 per cent.
The final offer from the Japanese giant closed last week, and it now holds a dominant position, with MIXI expected to control the board of PointsBet, while preventing betr from getting a seat at the table.
While it is short of the complete control it desired as part of a $420 million deal which would have taken PointsBet private, MIXI intends to proceed with its plans for PointsBet.
Operationally, the Australian consumer facing brand won’t change with key executive staff retained at the head office in Cremorne.
Betr maintains its minority shareholding, but it is unclear what its intentions may be, with its offer still active.
After a dip in the share price to as low as $1.18 on Monday, PointsBet shares have now rebounded to $1.27, the highest they have been since 2023. Betr’s shares are now at 25 cents.
