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The Japanese gaming giant now controls 51.86% of Australia’s embattled betting operator as the final deadline looms.
Mixi Australia has issued its Fourth Supplementary Bidder’s Statement confirming its cash offer of $1.25 per share represents the final price for its PointsBet takeover.
The offer closes at 7:00pm Melbourne time on 12 September 2025 and will not be extended or increased, marking the end of a months-long battle that saw competitor betr lose out on gaining control of the struggling Australian betting operator.
How Mixi crossed the magic 50% threshold that changes everything
Once you own more than half, the game is effectively over.
As of 5 September 2025, Mixi Australia held a relevant interest in approximately 51.86% of PointsBet shares, establishing PointsBet as a subsidiary of Mixi Australia.
This milestone confirms that competitor betr will not be able to obtain control of PointsBet, despite its revised proposals throughout the takeover battle.
The Japanese gaming company’s controlling stake fundamentally alters the power dynamics in Australia’s competitive betting market.
What the Corporations Act restrictions mean for future share purchases
Mixi’s buying spree hits a legal speed bump after 12 September.
After the offer closes, Mixi Australia’s ability to acquire additional shares will be limited by restrictions under the Corporations Act 2001, including a prohibition on using the “3% creep rule” for at least six months.
This regulatory framework prevents dominant shareholders from gradually increasing their holdings without proper disclosure, giving remaining PointsBet shareholders time to consider their options before Mixi can pursue further acquisitions.
Why betr’s revised proposal never stood a chance
Sometimes the early bird doesn’t just get the worm – it devours the whole nest.
In August, Mixi Australia revised its takeover bid, both increasing and extending its offer to acquire PointsBet. Shortly after, the company rejected betr’s revised proposal but raised its shareholding to 42.56%.
By the end of the month, Mixi had crossed the 50% threshold, giving it control of PointsBet and setting the final offer deadline of 12 September. The rapid accumulation of shares effectively locked out betr from any realistic path to control.
How shareholders can still accept the final $1.25 offer
The clock is ticking but the door isn’t completely shut yet.
Shareholders may accept the offer by submitting the Acceptance Form, completing the process online through the Automic portal, or instructing their broker.
The recent statement noted that if the offer lapses without a superior proposal, the trading price of PointsBet shares may fall, creating additional pressure on remaining shareholders to accept Mixi’s terms before the 12 September deadline.
Mixi’s board control reshapes PointsBet’s future direction
New ownership typically means new management and new strategy.
Mixi Australia confirmed it will take board representation proportionate to its shareholding and stated it would vote against the appointment of directors affiliated with betr.
This board control gives Mixi the power to reshape PointsBet’s strategic direction, potentially integrating the Australian operator into its broader gaming ecosystem or pursuing new market opportunities that align with Japanese parent company objectives.
Source: Gambling Insider
