Betr Launches Off-Market Offer for PointsBet with USD 80Mn Buyback Option

Fri 20 Jun 25, 04:49 AM | Team Kalkine

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Highlights

Betr Entertainment (ASX:BBT) is a digital wagering operator focused exclusively on the Australian market. The company is led by an experienced board and management team with deep roots in the industry, including Chairman Matthew Tripp and Director Michael Sullivan. Betr recently completed a $130 million capital raise and is aiming to scale through strategic combinations and operational efficiencies within the local wagering sector.

The company has announced an off-market, all-scrip takeover offer for PointsBet Holdings (ASX:PBH), targeting all shares not already owned by Betr. The offer proposes 3.81 Betr shares for each PointsBet share, translating to an implied value of USD 1.22 per share based on Betr’s recent USD 0.32 share price. This price reflects the terms of a USD 130 million capital raise recently completed with institutional investors in support of the transaction.

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