Regulatory greenlight advances $264m deal; Ontario nod still pending
Sportsbook operator PointsBet has confirmed that it has received regulatory approval from the Australian Commonwealth Government for its proposed acquisition by Japanese tech and media firm Mixi, marking a significant step forward in the long-anticipated deal. The approval satisfies requirements under the Foreign Acquisition and Takeovers Act 1975, allowing the process to proceed, pending final clearance from Canadian authorities in Ontario.
Approval Clears Major Hurdle for Mixi’s Full Takeover
With this development, Mixi moves closer to acquiring 100% of PointsBet’s shares, a move first publicly unveiled in February 2025, despite PointsBet having initially denied any acquisition talks during Q4 2024. The Japanese bidder upped its previous offer of $223.2 million to $264 million, a strategic play aimed at securing shareholder support and accelerating regulatory processes.
Ontario Regulatory Approval Still in Play
While the Australian government’s approval is a pivotal milestone, finalisation of the acquisition still hinges on approval from Ontario, where PointsBet operates under a licensed sportsbook in Canada’s regulated market.
The Ontario regulator’s response will be closely watched, as Canada remains one of PointsBet’s key international markets following its exit from the US last year.
Bidding War and Compliance Setbacks
The takeover bid hasn’t been without its drama. In parallel, Betr—an Australian sportsbook partly owned by News Corp—entered the race to acquire PointsBet. Reports suggest due diligence efforts for a proposed Betr merger began just last month, adding further competition to the table before Mixi’s revised bid emerged as the frontrunner.
Meanwhile, PointsBet has faced compliance challenges at home, most notably a fine of AU$500,800 (US$326,687) for breaching Australia’s spam and self-exclusion laws. The Australian Communications and Media Authority (ACMA) uncovered over 800 unlawful marketing messages sent between August and November 2023—another signal of regulatory scrutiny in an increasingly controlled wagering environment.
Industry Implications
If completed, the acquisition will mark Mixi’s official entry into the global iGaming and sportsbook industry, expanding the Japanese firm’s footprint beyond mobile apps and media into online wagering. The deal also reflects broader M&A activity across the betting industry as firms consolidate to withstand rising compliance costs and market saturation.
Final Word
With approval from Canberra now secured, all eyes turn to Ontario as the final arbiter of the deal. Should the Canadian regulator give the green light, Mixi will formally take the reins of PointsBet—closing the book on months of speculation and intensifying the competition in the global sportsbook market.
