PointsBet Holdings confirmed Monday that MIXI Australia’s proposed takeover bid is no longer subject to any gaming regulatory approvals after securing approvals in Ontario.
Following an intensive and extended review by the Alcohol and Gaming Commission of Ontario (AGCO), MIXI has received written confirmation that AGCO has no concerns with PointsBet’s proposed acquisition by MIXI.
PointsBet has also received written confirmation from iGaming Ontario (iGO) in relation to MIXI’s proposed acquisition.
As a result, the condition precedent to MIXI’s proposed PointsBet-Board recommended takeover bid relating to Ontario approvals has been satisfied.
MIXI’s proposed bid of AU$1.20 per PointsBet share remains subject to the satisfaction of certain other limited conditions as previously announced, including a 50.1 per cent minimum acceptance by PointsBet shareholders.
The Northern Territory Racing and Wagering Commission provided its approval in March for MIXI to acquire PointsBet.
Shares in PointsBet Holdings Ltd (ASX:PBH) closed unchanged at $1.19 per share in Sydney earlier Monday.