PointsBet has approved a takeover bid from MIXI Australia via a scheme arrangement which will transfer 100% of PointsBet's shareholding to the Australian arm of Japanese digital entertainment and sports group, MIXI Inc.
If the deal is approved PointsBet shareholders will receive cash consideration of $1.06 per share as part of the deal, which represents a significant premium of 27.7% to PointsBet’s closing price on 25 February. This amounts to around AU$353 million.
This amount also equates to an EV/EBITDA multiple of 25.2x – 32.1x based on PointsBet’s FY25 EBITDA guidance range.
The deal has been unanimously recommended by the board, as published in its half-year financial earnings report on 25 February.
A vote to approve the deal will occur in late May, and the ‘scheme’ is expected to pass and be implemented in mid-June.
MIXI’s Japanese parent company operates a number of sports and digital gaming business arms, including the FC Tokyo football team, horse racing betting..