AGCO Signs Off on MIXI’s Takeover Bid for PointsBet

MIXI would retain PointsBet Canada if successful with its takeover bid.

PointsBet and Betr in a Battle for Ownership

The Alcohol and Gaming Commission of Ontario (AGC), the regulator for iGaming in the province, has signed off on MIXI’s proposed takeover bid for PointsBet.

The Alchohol and Gaming Commission of Ontario has signed off on a deal that would see PointsBet taken over by MIXI. (Image: PointsBet)

Background to the Takeover Bid

PointsBet has iGaming operations in Ontario and Australia and plans to launch in Alberta when that province’s regulated iGaming market goes live in 2026.

The company sold its US operations to Fanatics in 2023,

AGCO Review of the Takeover Bid

When there is a change in ownership of the operating company of an iGaming operator in Ontario, the AGCO assesses the acquirer’s eligibility for licensure under the Gaming Control Act and the Registrar’s Standards for Internet Gaming,” a spokesperson from the AGC told Zamazonke.co.za.

Last week, the AGC informed MIXI that its review hadn’t identified any evidence that would preclude them from eligibility in Ontario and that, as a result, the AGCO would not object to the proposed corporate transaction.”

PointsBet Board Approves MIXI Bid

PointsBet is currently bogged down in a battle royale between Betr Entertainment and MIXI, the Japanese digital entertainment company, with the PointsBet board recommending the sale to MIXI while Betr, as the majority shareholder in PointsBet, saying it could challenge the takeover shareholder vote in court.

Part of the Betr takeover bid includes selling off PointsBet Canada to Hard Rock Digital.

MIXI’s Plan for PointsBet

MIXI would retain PointsBet Canada.

Betr currently owns 19.9% of PointsBet, making it the company’s largest shareholder. BlueBet Holdings and Betr merged in July 2024, with BlueBet adopting the Betr brand.

Conclusion

In conclusion, MIXI has been given the green light by the AGCO to take over PointsBet, with the company retaining its Canadian operations. As the battle for ownership between Betr and MIXI continues, it remains to be seen how this will impact the future of PointsBet and iGaming in Ontario.