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Japanese tech company MIXI has taken a major step forward in its attempt to acquire Australian operator PointsBet, after receiving regulatory approval from Ontario’s gambling authorities. The development strengthens MIXI’s hand in what has become a high-profile and politically tense takeover battle, involving rival bids and a shareholder vote error that briefly derailed proceedings.
Ontario Regulators Approve MIXI’s Acquisition Plan
The Alcohol and Gaming Commission of Ontario (AGCO) and iGaming Ontario (iGO) have both confirmed they have “no concerns” regarding MIXI’s proposed acquisition of PointsBet shares. These decisions satisfy a critical condition of the Bid Implementation Deed (BID) signed on 16 June 2025.
The Ontario green light follows earlier approval MIXI secured from the Northern Territory Racing and Wagering Commission in March, making Ontario the final regulatory checkpoint needed to proceed with the deal.
With this, MIXI’s A$402 million off-market bid is now no longer subject to any gaming regulatory approval, allowing the company to move ahead with the final stages of its acquisition plan.
Takeover Still Depends on Shareholder Approval
Despite overcoming regulatory hurdles, MIXI still faces one major obstacle: PointsBet shareholders must approve the bid, with the current offer requiring at least 50.1% acceptance in order to go through.
That threshold remains unmet for now — and MIXI must now focus on rallying shareholder support as it competes with rival bidder Betr Entertainment for control of the company.
A Voting Blunder That Changed the Course
The path to today’s progress has been far from smooth. Last month, PointsBet initially announced that shareholders had approved MIXI’s acquisition, only to reverse that decision due to a serious vote-counting error.
The issue? Computershare, PointsBet’s registry provider, failed to include a 19.9% proxy vote held by Betr Entertainment in the tally. This stake was enough to flip the outcome from approval to rejection.
The error led to strong criticism from Betr, which accused PointsBet of “unprofessional and irresponsible” conduct, citing a lack of due diligence before publicly declaring the vote passed. Computershare has since issued a formal apology, but the damage to trust was already done.
MIXI Launches New Off-Market Offer
In response to the failed vote, MIXI quickly pivoted by launching a backup takeover offer — this time via an off-market bid at the same price of A$1.20 per share.
The company is now preparing to submit its bidder’s statement to the Australian Securities and Investments Commission (ASIC), outlining the terms of its new offer. MIXI is urging PointsBet shareholders to accept this offer over what it has described as Betr’s “lower scrip offer”, which includes less clarity on payout structure and valuation.
Betr Pushes Back, Demands Fair Process
Betr has made it clear it will not step aside. The rival bidder is now preparing its own formal takeover offer and has publicly called on PointsBet to allow a transparent and competitive process, rather than rushing into a deal with MIXI.
Betr’s leadership has also accused the PointsBet board of favouring MIXI, warning that shareholders should have the opportunity to compare both proposals on equal footing.
What This Means for the Industry
If successful, MIXI’s acquisition of PointsBet would mark one of the most notable Japanese investments into the global gaming sector in recent years. The deal would give MIXI access to PointsBet’s operations in Australia, Canada, and the US, while reinforcing its presence in regulated online betting.
Source: next.io
