Australian Government approves Mixi’s $264M PointsBet bid

PointsBet has received official approval from the Australian Commonwealth Government for its proposed acquisition by Mixi.

The deal has been deemed compliant with the Foreign Acquisition and Takeovers Act 1975, allowing the process to move forward. However, final approval from Ontario authorities is still pending.

Interestingly, despite denying any foreign takeover talks in Q4 2024, PointsBet later reversed course and confirmed the acquisition in February. Just last week, Mixi increased its initial offer from US$223.2 million to US$264 million to strengthen the chances of closing the deal.

Separately, PointsBet was fined AU$500,800 (US$326,687) for breaching spam and self-exclusion regulations. An investigation by the Australian Communications and Media Authority (ACMA) found that over 800 unlawful marketing messages were sent between August and November 2023.

Now, though, this latest update appears to signal momentum shifting in Mixi’s favor, as PointsBet has officially acknowledged receiving regulatory approval from the Australian Government.