Aussie bookmaker Pointsbet soars on takeover offers, smaller first-half loss

Betr Entertainment

26/02/2025 24:58

** Shares of Australian online bookmaker Pointsbet Holdings PBH.AX surge 32% to A$1.095, their highest level since February 10, 2022

** PBH rises as much as 33.7%, marking its biggest intraday jump since August 28, 2020

** PBH top gainer in the ASX All Ordinaries index .AORD

** Says entered a scheme implementation deed with Japanese entertainment firm MIXI for takeover at A$1.06 per share

** MIXI's takeover bid values PBH at A$351.6 million ($223.23 million)

** Rival BlueBet Holdings BBT.AX also reveals a takeover bid made on February 18 valuing PBH between A$340 million and A$360 million

** BBT shares fall 2.9% to A$0.33 per share as of 0044 GMT

** PBH also reports 1H25 net loss of A$17.2 million, compared with a loss of A$32.7 million a year ago

** Says it expects FY25 normalised EBITDA between A$11 million and A$14 million, compared with a loss of A$1.8 million last year

** PBH up 8.5% this year, including the day's move

($1 = 1.5751 Australian dollars)

 (Reporting by Sameer Manekar and Nichiket Sunil in Bengaluru)

 ((Sameer.Manekar@thomsonreuters.com;))