On April 29, 2025, Betr Entertainment Limited (ASX: BBT) has proposed to acquire the remaining 80.1% of PointsBet Holdings Limited (ASX: PBH)—the parent company of PointsBet Canada—for approximately AUD 360,000,000 (CAD 324,000,000). The offer consists of AUD 260,000,000 in cash and AUD 100,000,000 in scrip, valuing each PointsBet share at AUD 1.33, exceeding a competing AUD 1.06 per share offer from MIXI Inc.

The proposal encompasses all of PointsBet’s global operations, with PointsBet Canada included as a key subsidiary. Although not specifically highlighted in the announcement, the Canadian unit represents an important component of PointsBet’s North American market presence and future growth potential.

To finance the acquisition, Betr launched a fully underwritten AUD 130,000,000 equity raise, including AUD 20,000,000 in commitments from stakeholders such as Chairman Matthew Tripp. Additionally, National Australia Bank has provided a credit-approved acquisition finance facility of AUD 120,000,000. Betr projects annual cost synergies exceeding AUD 40,000,000 through integration of technology and operations.

Jarden and Ord Minnett are acting as financial and legal advisors to Betr. The PointsBet board is currently evaluating the proposal with external advisers and has not yet made a recommendation. Shareholders are advised to take no action until further updates are provided.