betr sweetens PointsBet offer, expands share buy-back to $90m

betr Entertainment Limited has increased its offer for PointsBet Holdings Limited, with the offer consideration now standing at 4.735 betr Shares per PointsBet Share, up from 4.219 betr Shares. This revised offer translates to $1.40 per PointsBet Share, based on betr's recent $0.32 capital raise price, surpassing MIXI's $1.25 cash offer.

In a related move, betr has expanded its selective buy-back pool from at least $80 million to at least $90 million. This buy-back will proceed regardless of acceptance levels under the offer or MIXI's relevant interest post-offer.

Furthermore, betr has secured significant shareholder support for upcoming resolutions, including the approval of betr Share issuance under the offer, the undertaking of the selective buy-back, and MIXI's participation in the buy-back. Over 75% of betr's shares on issue have indicated support for these resolutions, positioning them for approval at the 22 September 2025 general meeting.