betr Entertainment Launches Takeover Offer for PointsBet Shareholders.

betr Entertainment Limited (ASX: BBT) has officially opened its all-scrip, off-market takeover offer for PointsBet Holdings Limited. Under the terms, PointsBet shareholders will receive 4.219 betr shares for every one PointsBet share, valuing the offer between AU$1.25 and AU$1.35 per share depending on betr’s recent trading and capital raise prices. The offer closes at 7:00pm (Sydney time) on 22 September 2025, unless extended.

The bid is positioned as superior to MIXI’s AU$1.25 cash offer, highlighting potential synergies estimated at AU$44.9 million annually if betr secures 100% ownership. The combined business is expected to benefit from enhanced profitability, scale advantages, and stronger institutional appeal, with a possible pathway to S&P/ASX 300 index inclusion. With an experienced board and management team, betr believes the merger will unlock significant long-term value for PointsBet shareholders, who are strongly encouraged to accept.

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