betr Entertainment Limited has announced its intention to make an all-scrip off-market takeover offer for PointsBet Holdings Limited, offering 3.81 betr shares for each PointsBet share.

The proposal includes a selective buy-back option, providing PointsBet shareholders with either immediate cash liquidity or the opportunity to benefit from the long-term value of the combined entity.

The offer is positioned as superior to the existing MIXI scheme, with expected synergies and value creation opportunities, and betr plans to vote against the MIXI scheme at the upcoming shareholder meeting.

betr Entertainment Limited is a company operating in the Australian wagering sector, offering digital wagering services. It aims to consolidate value within the industry through strategic acquisitions and partnerships.