Betr completes $41m selective buyback after PointsBet acquisition battle
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The news: Betr has completed a $40.6 million selective share buy back for shareholders that had accepted the online betting company’s all-scrip off-market takeover bid for rival PointsBet.
The numbers: On 16 October, Betr bought back 127,029,704 fully paid ordinary shares at a fixed price of 32 cents per share. A total of $40,649,505.28 will be paid on 23 October 2025.
At 11:06am AEDT, shares in Betr had slipped 2.1% to 24 cents each.
The context: After being locked in a takeover battle for PointsBet with Japanese entertainment business MIXI Australia for about half of this year, Betr secured 27.72% at the close of its offer on the evening of 25 September. MIXI secured a 66.43% interest.
MIXI has previously pledged to block any attempt by Betr to nominate a director to PointsBet and refused to collaborate with the company.
On 6 October, PointsBet announced that MIXI Australia directors Sho Okuyama, Kanji Kobayashi and Taishi Oba were appointed to its board. Meanwhile, existing board members Becky Harris, Tony Symons, Kosha Gada, Peter McCluskey and William Grounds retired from their positions.
