Betr Calls for Recount in PointsBet Acquisition Vote

Betr Entertainment has issued a formal demand for a recount of votes related to the proposed takeover of PointsBet by Japanese tech firm Mixi, alleging its proxy vote was unlawfully excluded from the ballot.

The shareholder vote, held on Wednesday, saw 95.7% of ballots cast in favour of Mixi’s AU$1.20-per-share offer, with just 4.31% opposing the scheme. Based on that result, PointsBet announced that the acquisition will proceed via a scheme of arrangement.

However, Betr — which recently became PointsBet’s largest shareholder with a 19.9% stake — claims its significant vote against the deal was improperly omitted from the tally.

In a strongly worded statement, Betr said: “It appears the chair of the meeting has impermissibly excluded Betr’s vote against the scheme and provided no justification for this action. Betr validly lodged its proxy vote against the proposal, as acknowledged in PointsBet’s own announcement. At no point was that proxy revoked.”

The company is now calling for an immediate recount that includes its vote in full. Betr has also indicated it will challenge the exclusion in court if the results are not amended ahead of a scheduled Second Court Hearing.

The dispute comes amid a heated takeover battle in which Betr has tried to position itself as a credible alternative to Mixi. Despite its growing stake and public opposition, PointsBet has remained committed to the Mixi bid, citing the offer’s certainty and structure.

Earlier this week, PointsBet reiterated it is open to evaluating Betr’s competing proposal — but only if further details are provided, particularly around pricing stability and transaction structure. The company has expressed concern over the volatility and lack of clarity associated with Betr’s bid, especially in contrast to Mixi’s fixed price offer.

PointsBet has also raised questions about the mechanisms within Betr’s bid, including the nature of any proposed scrip or share buy-back elements.

Undeterred, Betr says it is continuing preparations for an unconditional direct takeover offer to PointsBet shareholders and plans to release more information in the days ahead.