Hard Rock has Applied for Ontario iGaming License, Fuelling PointsBet Canada Sale Rumours

According to a senior industry source, Hard Rock Digital has applied to the Alcohol and Gaming Commission of Ontario (AGCO) for an igaming licence, another step forward in the potential sale of PointsBet Canada. 

USD $232 Million Offer 
  
As we reported earlier this week, Betr Entertainment’s attempts to buy PointsBet Holdings Ltd., based in Melbourne, Australia, is directly connected to future of PointsBet Canada.

 Betr is currently in a bidding war with Japanese entertainment giant MIXI to buy rival company PointsBet.
  
Betr currently owns 19.9% of PointsBet, making it the company’s largest shareholder. BlueBet Holdings and Betr merged in July 2024, with BlueBet adopting the Betr brand.
  
Betr Improved Offer for PointsBet
 
PointsBet’s board issued a statement in February indicating they were accepting a MIXI takeover bid. The board was concerned that Betr’s bid was more contingent on raising debt.
  
The latest reporting says Betr has improved its bid – a total of AU $360 million (USD $232.4 million), a combination of cash and shares. MIXI proposed a takeover bid of AU $350 million in April.
  
Part of that new bid from Betr involves selling off PointsBet Canada, with Hard Rock rumoured to be the buyer.
  
According to the industry source, who has connections with Hard Rock:

 Hard Rock is applying for a license in Ontario. The Hard Rock deal is contingent on Betr buying PointsBet Australia and divesting the Canadian business but the only news I’ve seen says it involves selling the customer database, which only makes sense if a license application is in the works. It can take six months or more to get a license [in Ontario].”
  
Selling Off PointsBet Canada Part of Bid
 
There’s been no comment so far from PointsBet Canada or Hard Rock Digital.

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