Betr has lobbed an off-market, all share bid for PointsBet as it attempts to kill its ASX-listed bookmaking rival’s sale to Japanese giant Mixi.
To appeal to investors who want cash, Betr says it will buy back $80 million in a complex move that would value PointsBet shares at $1.22. Mixi, which owns a major social networking platform along with gaming and wagering businesses, has offered $1.20 in cash for PointsBet shares.
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Zoe Samios covers wagering and the business of sport from the AFR's Sydney newsroom. She was previously the media and telecommunications reporter for The Sydney Morning Herald and The Age, and covered media at The Australian. Connect with Zoe on Twitter. Email Zoe at zoe.samios@afr.com
