PointsBet has halted trading on its shares ahead of an update on Mixi’s takeover offer for the gambling operator.
Japanese company Mixi, which is looking to beef up its presence in Australia, is looking to acquire Australian gambling brand PointsBet through a scheme of arrangement.
Betr Entertainment, formerly BlueBet before a merger between the companies, has submitted two offers of its own for PointsBet. The first was rejected, but PointsBet said the second could be “reasonably expected” to be superior to Mixi’s.
In a fresh development, though, PointsBet said it has requested its shares on the Australian Stock Exchange be halted pending a “material update” to Mixi’s scheme of arrangement offer.
Trading will be halted until the earlier of the time of the announcement and the commencement of trading on Thursday, June 5.
PointsBet also has a Canadian arm, which – under Betr’s offer – has received interest from Seminole Hard Rock Digital.
