It looks like Betr Entertainment Ltd. and MIXI's back-and-forth struggle for ownership of the Australian gambling firm PointsBet is coming to a conclusion.

MIXI Australia declared on Thursday that their all-cash offer has been raised to AU$1.30 (USD$0.84) each PointsBet share. There are just a few days left for shareholders to accept the offer.

"MIXI Australia’s offer will be extended until August 29 and will not be further extended,” the company stated.

MIXI announced last week that it had raised its PointsBet offer to AU$1.25 ($0.81US) per share, and Thursday's offer was the company's most recent "last and final."

MIXI Raises PointsBet Stake

For every Pointsbet share, Betr is currently proposing an all-share offer of 4.219 Betr shares, or AU$1.35 (USD$0.87) per share. According to Betr, the offer surpasses MIXI's all-cash bid because of the substantial synergy potential for combining activities.

"The increased offer price applies if MIXI Australia acquires 90% or more PointsBet shares and stays at AU$1.25 per PointsBet share if the company acquires less than 90%.

According to a statement from PointsBet, MIXI Australia now owns 36.71% of the company's shares. MIXI is striving for control of 50.1%. The PointsBet board has urged shareholders to do nothing regarding the Betr offer and has suggested that PointsBet stockholders accept the MIXI acquisition offer.

Sell Off in Canada

At the moment, Betr owns 19.9% of PointsBet. According to the MIXI statement on Thursday, the takeover price would return to AU$1.25 if Betr did not support the most recent AU$1.30 MIXI proposal because the 90% level would not have been reached.

As Casino.org has previously explained, all of this has significant ramifications for PointsBet's activities in Canada. The sale of PointsBet's Canadian business to Hard Rock Digital is a component of the Betr all-share agreement.

In April of last year, Betr management announced that they had received a nonbinding proposal from Seminole Hard Rock Digital, LLC to purchase specific assets related to PointsBet's activities in Canada. If the acquisition goes through, Hard Rock will just concentrate on the Australian market and pay Betr US$29.6 million for PointsBet Canada.

After evaluating the company's suitability to take over PointsBet's Canadian operations, the province's regulatory body, the Alcohol and Gaming Commission of Ontario, and iGaming Ontario, which oversees and conducts the iGaming industry in the province, approved the MIXI takeover bid.

Although Casino.org has not yet been able to obtain formal confirmation from MIXI, there have been reports that MIXI has no plans to sell off the Canadian business.