betr sweetens PointsBet offer, boosts buy-back pool

betr Entertainment Limited (betr) has increased its offer to acquire shares in PointsBet Holdings Limited (PBH) not already held by betr, raising the consideration to 4.735 betr shares per PointsBet share. This revised offer values each PointsBet share at A$1.40, based on betr's recent A$130 million capital raise price of A$0.32, and is superior to MIXI's A$1.25 cash offer.

In addition, betr plans to increase its selective buy-back pool from at least A$80 million to at least A$90 million. This buy-back will proceed regardless of acceptance levels under the offer or MIXI's relevant interest, contingent on shareholder approval at the upcoming 22 September 2025 general meeting.

betr has also secured significant shareholder support for the resolutions to be voted on at its general meeting, with over 75% of shares on issue indicating support for the proposed share issue, selective buy-back, and MIXI's participation. The company is highly confident these resolutions will pass.