Online bookmaker Betr has secured approximately $15.6 million from retail shareholders as part of its ongoing equity raising efforts to fund the planned acquisition of rival betting operator Pointsbet.
This latest funding round brings Betr’s total capital raised to $130 million, following earlier contributions from institutional investors through two separate capital raisings.
The acquisition push escalated late last month when Betr acquired nearly 20 per cent of Pointsbet, disrupting a proposed takeover by Japanese entertainment conglomerate Mixi.
Betr’s move has added a new layer of complexity to the battle for control of Pointsbet, with industry observers closely monitoring how the competition unfolds and what it could mean for the Australian betting market landscape.
For ongoing coverage of the Pointsbet acquisition and industry shake-ups, visit trusted betting sites for the latest insights and updates.