Mixi’s Takeover of PointsBet Clears Canadian Regulatory Hurdles

Mixi’s proposed acquisition of PointsBet has taken a significant step forward after receiving regulatory approval in Canada.

PointsBet, which runs a challenger brand in the Canadian market in addition to its primary operations in Australia, confirmed that both the Alcohol and Gaming Commission of Ontario (AGCO) and iGaming Ontario (iGO) have cleared the deal to proceed.

While the acquisition remains conditional on achieving a minimum 50.1% acceptance of Mixi’s offer, the transaction is now free of any further gaming regulatory barriers.

Despite this progress, Japanese firm Mixi still faces competition from Betr Entertainment, which remains active in its efforts to outbid Mixi for control of PointsBet.

Last week, an error in the vote count on Mixi’s scheme of arrangement led to the proposal being mistakenly declared defeated — after an initial indication that it had passed. Nonetheless, Mixi has a parallel off-market takeover offer in place with PointsBet, providing an alternative route to acquisition.

Betr has stated that it intends to submit a revised offer in a renewed attempt to secure the deal.