Betr Entertainment has intensified its efforts to acquire the Australian division of PointsBet Holdings Limited by submitting a significantly revised, non-binding offer.
The new proposal elevates the total acquisition price to AU370 million,which translates to AU0.465 per share. This updated figure represents a substantial 37% premium over PointsBet’s closing share price of AU$0.34 recorded on May 23, 2025, underscoring Betr’s serious intent to secure the deal.
The enhanced bid follows an initial non-binding indicative offer that PointsBet received from Betr on May 24, 2025. The increased valuation is a direct result of ongoing discussions and continued due diligence between the two companies, signaling that negotiations are progressing.
If the transaction is successfully completed, Betr will assume control of all of PointsBet’s Australian-based operations. This includes the entirety of its licences, proprietary technology, intellectual property, existing personnel, and all other assets integral to the business in the region.
To facilitate the final stages of negotiation, Betr has agreed to an extension of the exclusivity period, which will now run until September 6, 2025.
This extension provides both parties with the necessary time to finalize their assessments and move toward a binding agreement. During this period, PointsBet is restricted from soliciting or entering into discussions with any other potential suitors, unless legally required to do so to comply with its fiduciary duties to shareholders.
The PointsBet Board has already indicated that it views the revised terms favorably, considering them to be superior to the company’s standalone prospects.
However, the transaction is not yet final and remains subject to several conditions, including formal shareholder approval, the satisfactory completion of due diligence, and all necessary regulatory clearances.
As a contingency, Betr may also request a short-term funding facility to ensure operational continuity for PointsBet Australia should the finalization of the deal be delayed. Both companies are expected to provide further updates as discussions conclude.
