The sale is expected to complete by the end of April, and Flutter will provide a further update in its first-quarter results on May 7. 

“The acquisition of Snai fully aligns with Flutter’s strategy to invest in leadership positions in attractive international markets, creating value through providing access to Flutter’s market leading products and capabilities,” says Flutter.

“Adding Snai to the Flutter portfolio will consolidate Flutter’s leadership position in Italy and create a position of increased scale to capitalize on the growth opportunity in Europe’s largest regulated market.”

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The acquisition will be executed through a scheme of arrangement, offering PointsBet shareholders a cash consideration that represents a substantial premium over recent trading prices.

The PointsBet board has unanimously recommended the proposal, pending shareholder approval and an independent expert’s endorsement. The transaction is expected to be finalized by June 2025, contingent on meeting all conditions.

In a letter to shareholders PointsBet said it has entered into a scheme implementation deed with MIXI and MIXI Australia for the proposed acquisition by MIXI Australia of 100% of the issued share capital of PointsBet by way of a scheme of arrangement

MIXI is a Japanese consumer technology company that develops and operates mobile games, communication services, and publicly managed sports betting services. It also manages professional sports teams in Japan. The company and its group companies have over 1,600 permanent employees across the globe and generated approximately JPY147 billion in annual net sales in JFY2024.

MIXI has a Northern Territory-licenced sports bookmaking subsidiary that provides wagering services to Australian consumers under the brand known as “betM”.

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The Company has made a cash payment of $1,520,428.47 to TopSport (representing the
Completion Payment less TopSport customer account balances, pending bets, and employee
entitlements).

The Company has issued 8,823,529 fully paid ordinary shares (the Completion Shares) to
TopSport’s nominee entity, Merlehan Family Investments Pty Ltd; and

More than 63 million rows of TopSport customer data were securely migrated overnight, including
transactional data, pending bets and account balances.

This delivered a frictionless experience forTopSport customers who can now expect a materially uplifted wagering experience on the bet platform, with TopSport Chief Executive Officer, Tristan Merlehan, to add to the Company’s best-in-class Management Team joining in the role of Chief Trading Officer.

BlueBet Chief Executive Officer, Andrew Menz, commented:“We have successfully completed the acquisition of TopSport, executing an innovative transaction structure that enabled us to migrate TopSport customers onto the betr platform prior to completion.

This materially de-risked the transaction and ensured that all anticipated cost synergies were fully realisedwithin just 55 days of announcing the deal, without the need to operate the TopSport brand or wagering platform during the transition. “This outcome reflects our repeatable and scalable M&A model, underpinned by the speed and precision of our migration team. Our ability to rapidly execute on the integration and migration with no disruption to our offering remains a key competitive advantage, delivering immediate value for our shareholders

“With the successful integration of TopSport, our focus now shifts to further inorganic growth
opportunities in the Australian market, including our compelling and fully funded proposal to acquire
PointsBet.

By providing the flexibility for PointsBet shareholders to choose a mix of cash and scrip, we
believe ours is a superior proposal for shareholders to realise value in the short and long term. Our
engagement with PointsBet shareholders remains overwhelmingly positive and we look forward to
progressing our discussions with the PointsBet Board.”

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The unique transaction structure requires no financial consideration from Sportradar, instead providing $225 million in financial consideration, with $125 million paid to Sportradar and up to $100 million in cash prepayments by Endeavor Group.

IMG ARENA’s portfolio includes rights to approximately 39,000 official data events and 30,000 streaming events across 14 sports on six continents.

Notable properties include three of the four Grand Slam tennis tournaments, Major League Soccer, EuroLeague basketball, and the PGA Tour. This acquisition is set to bolster Sportradar’s strategic global sports coverage and is anticipated to accelerate the company’s revenue, adjusted EBITDA, and free cash flow growth. 

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The offer is clearly superior to that offered by MIXI (MIXI Proposal), with an illustrative value toPointsBet shareholders of $1.28 per share compared to $1.06 under the MIXI Proposal. The Offer delivers upside exposure to the synergy and growth potential of the combined business – something not available in the all-cash MIXI Proposal.

The company expects to realise in excess of $40m in cost synergies, driven by a move to a single brand,
app and technology platform. These synergies are identified, highly actionable and readily unlocked by integrating the businesses. 

The combined business would benefit from deeper investment in brand, product and customer intelligence to drive sustainable and profitable growth. The innovative “mix and match” transaction structure enables PointsBet shareholders to elect to take all cash, all scrip or a combination of both – subject only to scale back mechanisms. 

The all-cash MIXI Proposal denies PointsBet shareholders the opportunity to benefit via the expected $40m of cost synergies, market share growth and participation in further consolidation.

The combined business would have annualised turnover of ~$4 billion and ~10% market share. All shareholders will benefit from ongoing exposure to Australia’s only ASX-listed, pure-play digital wagering business.Critically, the Offer is expected to be highly EPS accretive for existing BlueBet shareholders and expedites the Company’s path to the 10%-15% market share “sweet spot”.

The company has high conviction in financing the transaction, having secured underwriting support
letters to undertake a $160 million equity raise and is well-progressed in securing $100 million of debt
funding.

Further details about the Offer can be found in the accompanying presentation.BlueBet Chairman, Matthew Tripp, said: “Our Offer clearly represents a superior proposal for PointsBet shareholders to realise significant value. Unsurprisingly, we have been inundated with support for our offer in preference to the MIXI Proposal, which sees PointsBet shareholders leave meaningful value on BlueBet Holdings Ltd.

We are confident in progressing our superior proposal and creating the next great challenger brand in this market.”BlueBet CEO, Andrew Menz, said: “Our innovative transaction structure provides flexibility to all PointsBet shareholders to mix and match between their preferred combination of cash and scrip. Those opting to take scrip will gain exposure to significant potential upside, driven by an expected $40m cost synergy prize and further organic and inorganic growth as we consolidate the Australian wagering market.”

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With this acquisition, Optimove enhances its AI-driven marketing platform by integrating Adact’s cutting-edge gamification technology, transforming customer engagement from acquisition to retention and through to reactivation. 
 
Adact’s gamified experiences will be unified across the Optimove platform empowering brands to drive deeper customer engagement and boost conversion rates by up to 80% with breakthrough capabilities, including: 

Creating dynamic, gamified experiences such as interactive mini-games and landing pages for zero-party data collection that enrich unified customer profiles within Optimove’s platform.  

Triggering personalized gamified experiences as part of multichannel journeys, orchestrated by AI, to match each customer with the best game for them.  

Combining engaging gamified experiences within a brand’s personalized digital platforms, powered by Opti-X, for unprecedented inbound conversion and retention rates.  

Measuring the impact of gamified experiences with productized control groups, powered by Optimove’s customer data platform to report on gamification’s incremental uplift on any business KPI.

Additionally, Optimove will establish a development center in Tallinn, Estonia, focused on integrating Adact’s technology and expanding its capabilities as the next generation of gamification and loyalty-based engagement. Kalev Kärpuk, founder and CEO of Adact, will lead Optimove’s gamified solutions division and oversee operations at the Tallinn development center. Optimove plans to expand the Estonian team to support the continued growth and development of its gamification and loyalty capabilities. 

Adact’s platform aligns with this strategy by empowering marketers to implement gamification campaigns without writing code or depending on engineering resources.

“Optimove is a global leader in customer engagement marketing, so the opportunity to continue our journey with them was something we couldn’t miss. With the merger, there will be more investment in the development of our gamification software. Further, Optimove’s clients will have preferential first access to our gamification solutions on the Optimove platform,” said Kalev Kärpuk, founder and CEO of Adact.

“Adact’s gamification solutions enable marketers to independently create and launch interactive campaigns that drive customer engagement and retention. After evaluating multiple providers, we found Adact’s technology best aligns with our vision for Positionless Marketing,” said Pini Yakuel, CEO of Optimove. 

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The PointsBet Board unanimously supports the scheme, viewing it as a valuable opportunity for shareholders to realize cash value at a premium, subject to regulatory and shareholder approvals. The scheme is expected to be implemented by mid-June 2025, pending necessary approvals.

PointsBet shareholders will receive cash consideration of AUD 1.06 per PointsBet share — representing a significant premium of 27.7% to PointsBet’s closing price. The Scheme Consideration implies an enterprise value of AUD 353 million.
 
MIXI is a consumer technology company, with its principal business activities including the development and operation of mobile games, communication services, publicly managed sports betting services and management of professional sports teams in Japan.

The company has over 1,600 permanent employees across the globe and generated approximately JPY 147 billion in annual net sales in JFY2024. MIXI’s wholly owned subsidiary operating in Australia is licensed in the Northern Territory as a sports bookmaker and provides its wagering services to Australian consumers under the brand known as “betM”.
 
Baker McKenzie’s Transactional Practice Group Co-head, Lance Sacks stated: “The derived value for PointsBet shareholders reflects the significant value of PointsBet’s world-class technology assets and reputation for wagering excellence in both Australia and Canada. PointsBet have built a market-leading reputation in online sports and racing betting.”
 
Lance was assisted by a Baker McKenzie team comprising: Louise Hang, Ed Dymond, Georgina Foster and Jeremy Hardy.
 
Previously, the Firm has advised PointsBet on the sale of its USA business and associated technology to Fanatics.

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The total consideration of the sale consists of the following: $850 million cash, payable upon closing of the transaction and subject to customary purchase price adjustments. Contingent cash consideration of up to $200 million, subject to the achievement of certain financial targets through 2028.

Privately owned by Garrett Blackwelder, Grover Charitable Gaming was founded in 2013 and currently has an installed base of over 10,000 leased electronic pull-tab units across five U.S. States (ND, OH, VA, KY, NH) operating under a recurring revenue model.

Grover Charitable Gaming has developed long-standing and persistent relationships with charitable customers in the states that it operates, underpinned by a dedicated local team of service technicians and relationship managers.

Under the terms of the agreement, Mr. Blackwelder will collaborate with Light & Wonder to help drive the continued success of the business over the next four years.

The Company expects the transaction to close during the second quarter of 2025, subject to required regulatory and other approvals and customary closing conditions.

Post acquisition, Light & Wonder will operate the business with a combination of Grover Gaming and Light & Wonder employees.

“Grover Gaming is a leading player in charitable gaming, a category that has experienced significant growth in recent years,” said Matt Wilson, President and Chief Executive Officer of Light & Wonder. “This transaction complements our position as the leading cross-platform global games company by adding another compelling regulated adjacency to our profile.”

“Importantly, there are exciting incremental revenue opportunities to be realized by leveraging Light & Wonder’s proven land-based gaming content to a new and loyal customer base. We look forward to continuing to partner with Grover Gaming’s customers, building on its strong dedication to customer service,” Mr. Wilson concluded.

“I am very thankful for all of our Grover Gaming teammates and how hard they work every day,” said Garrett Blackwelder, CEO and Founder of Grover Gaming. “I’m also grateful for our customers’ loyalty over the past two decades. We realize without them, we wouldn’t be where we are today. Light & Wonder is an ideal partner for us, given our similar company cultures and dedication to innovation and customer service.”

“The real winners are the charities and fraternals in these markets, because of the exciting game content L&W brings to the table,” said Kevin Morse, Chief Development Officer of Grover Gaming. “We are excited to see Charitable Gaming taken to a new level.”

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The deal, which includes all Bojoko assets, was concluded on February 14 and represents a new chapter for the Malta-based asset, giving them the resources to become an even bigger force in the iGaming affiliate world. This acquisition is structured using upfront and earnout payments, representing 3.0-4.5x 2025 EBITDA depending on future performance.

Since launching in 2017, Bojoko.com has become the go-to platform for UK players seeking in-depth casino, bingo, and sports betting insights, whileBojoko.ca has been instrumental in helping Canadian players navigate the rapidly growing online gaming market. 

This acquisition will allow both platforms to expand their reach, enhance their services, and provide even more value to users in these key markets. It also opens room for further market expansion.

Julien Josset, co-founder and CEO of North Star Network, shared his excitement about the acquisition:

“We are thrilled to welcome Bojoko into the North Star Network. Bojoko has built an excellent reputation in the industry for its user-driven approach, commitment to true quality, and innovative platform,” he added.” This acquisition aligns perfectly with our vision to expand our influence in the iGaming industry, giving us an instant footing in the casino vertical. 

“Bojoko’s casino knowledge is almost unparalleled, and we could not be more excited about the future,” Josset concluded. “Together, we plan to expand Bojoko’s reach internationally, creating even more value for players and partners alike.”

Bojoko co-founder and CEO Joonas Karhu will continue to lead the project.

“This is a monumental step forward for Bojoko. Since day one, our goal has been to empower players with expert insights and easy tools that allow them to make informed choices,” Karhu began. “With North Star Network backing us, we’re now in a position to enhance our solutions, expand, and bring our expertise in the online gambling space to new audiences worldwide. 

“This partnership opens the door for unprecedented growth and innovation.”

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MTG and Plarium signed a deal in November 2024, during which it announced that $20 million of the agreement would be deferred to 2026.

Now that the deal has closed, MTG will begin onboarding Plarium and fully consolidate it into the group.

According to Pocket Gamer, the deal could result in “an earn-out of $30 million” based on revenue from Raid: Shadow Legends in 2025 and a “further $170 million based on Plarium’s 2028 revenue.”

“This transformative deal will enable us to realise our ambitions to become a leading European gaming group with one of the strongest portfolios of evergreen mid-core IPs in the world,” said MTG president and CEO Maria Redin.

“The acquisition of Plarium is a major catalyst for our future growth. It provides us with a unique opportunity to accelerate our execution and strategic delivery. This deal brings together some of the best people in our industry, supported by the tech, tools and knowledge we have across our group.”

Plarium CEO Schraga Mor added: “We are thrilled to join MTG, a company that values Plarium’s proven success in the mid-core and casual gaming sectors. Over the past year, we have returned to growth, setting new records and reinforcing our industry leadership – a reflection of our team’s exceptional talent.

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