Japanese company MIXI submits takeover bid for Pointsbet

Japanese company MIXI Inc. which is the parent company of online betting company BetM has entered into an agreement to acquire PointsBet for $1.06 per share through a scheme of arrangement.

The offer represents a 27.7% premium to PointsBet’s latest closing price and implies an EV/EBITDA multiple ranging from 25.2 times to 32.1 times based on PointsBet’s FY25 earnings guidance, as stated in the announcement.

The PointsBet board has unanimously recommended the deal to shareholders, provided no superior offer emerges.

MIXI is a consumer technology company specializing in mobile game development, communication services, publicly managed sports betting, and professional sports team management in Japan.

Meanwhile, PointsBet has reduced its net loss for the half-year to $17.25 million, down from $32.66 million in the previous year, while also boosting revenue by 6% to $124.36 million.