Australian gambling operator PointsBet has rejected a proposed takeover from Betr Entertainment.
On 29 April Betr proposed acquiring the 80.1% (226 million shares) of PointsBet shares that it does not already hold. In a statement PointsBet said Betr’s offer worked out marginally below the US$1.20 per share being offered by rival bidder MIXI Australia.
The operator also said the “value and cost synergies identified by Betr has been marginally overstated” and that there were “significant integration and implementation challenges”.
Consequently, PointsBet has entered onto a bid implementation deed with MIXI Australia.
