AGCO and iGaming Ontario grant approval as deal enters final shareholder stage
The ongoing takeover bid by Mixi Australia for PointsBet Holdings has passed a significant milestone, with the Alcohol and Gaming Commission of Ontario (AGCO) and iGaming Ontario (iGO) confirming regulatory approval for the acquisition. This development removes one of the most critical legal barriers facing the deal and shifts attention to shareholder response, now the final major hurdle.
Regulatory Clearance Strengthens Bid Legitimacy
Following a detailed regulatory suitability assessment, the AGCO issued formal approval for Mixi’s acquisition of PointsBet’s assets and operations. Simultaneously, iGaming Ontario issued written confirmation of its non-objection to the takeover. These actions complete Mixi’s compliance with Ontario’s gaming laws and remove any remaining jurisdictional objections in Canada’s most lucrative iGaming market.
These approvals form part of the conditions outlined in the Takeover Bid Implementation Deed (BID) signed on 16 June 2025, a binding agreement detailing the terms of Mixi’s pursuit of PointsBet.
Shareholder Vote Remains Decisive Barrier
While the regulatory aspect of the bid has now been satisfied, the acquisition is still contingent upon Mixi acquiring a minimum 50.1% shareholder acceptance of its revised all-cash offer. The company has proposed a purchase price of $1.20 per share, valuing PointsBet at roughly $402 million.
This bid comes after an earlier attempt via a scheme of arrangement failed to secure the required 75% approval threshold. That vote was complicated by a recount and the inclusion of disputed votes from rival wagering company Betr, which led to the scheme’s rejection in late June.
In response, Mixi transitioned to an off-market acquisition strategy, sidestepping the scheme structure in favor of a direct offer to shareholders—an approach that lowers the voting threshold and speeds up execution if successful.
Prior Clearances Set the Stage
Mixi had previously received regulatory approval from the Northern Territory Racing and Wagering Commission in March 2025, which governs PointsBet’s Australian operations. With the Ontario green light now secured, no further gaming approvals are required for the transaction.
This clean sweep of regulatory clearances enhances the credibility of Mixi’s offer and reduces the potential for legal or procedural challenges moving forward.
Strategic Implications for PointsBet and Mixi
If the offer is accepted, the acquisition will provide Mixi with immediate access to PointsBet’s established international operations, particularly its foothold in the North American sports betting and iGaming markets.
For PointsBet, which has recently faced stiff competition and investor uncertainty, the takeover could provide a financial reset and allow its technology and assets to scale under a new, well-capitalized owner.
Market analysts are watching closely, noting that PointsBet’s valuation has slipped over recent quarters due to operational losses and a difficult competitive landscape in the U.S. and Canada.
Outlook: Shareholders Hold the Key
With gaming regulators aligned, the fate of the deal now lies in the hands of shareholders, who must decide whether the $1.20 offer reflects fair value for their investment amid uncertain long-term prospects for PointsBet as a standalone entity.
A decision is expected in the coming weeks, and if Mixi crosses the 50.1% threshold, the acquisition will proceed—ushering in a new chapter for one of Australia’s most recognized sports betting brands.
