At the time of writing, the PointsBet share price is down 1.66% to 89 cents.

The company has a market capitalisation of just over $300 million and operates online sports and racing betting platforms in Australia and Canada. It offers fixed odds betting, in play wagering, and its own PointsBetting product through a digital platform.

Let's take a closer look at what the market is responding to.

Canadian regulator proposes short suspension

In its ASX announcement, PointsBet advised that the Alcohol and Gaming Commission of Ontario (AGCO) has issued a notice of proposed order to suspend PointsBet Canada's iGaming registration for 5 days.

The proposed suspension relates to a March 2024 incident. According to the company, it involved the provision of certain transactional information connected to suspicious betting activity.

PointsBet said it has the right to appeal the proposed order within 15 days through the Licence Appeal Tribunal. The company is currently reviewing the notice and considering its options, including requesting a formal hearing.

Management stated that the initial response provided to the regulator in March 2024 was incomplete. Once the issue was identified, the company said it had supplied the full and correct information and had fully cooperated with the regulator since then.

PointsBet confirmed that its Canadian operations will continue during the appeal period and has indicated its intention to challenge the proposed suspension.

There was no mention of a financial penalty in the announcement.

Recent performance and financial position

PointsBet operates in a highly competitive wagering market. The company has grown revenue over recent years, with annual revenue sitting around $260 million in its most recent full-year result.

However, the business is still reporting net losses. While losses have narrowed compared with previous periods, the company has not yet returned to consistent profitability.

PointsBet also does not pay a dividend.

Over the past 12 months, the share price has traded between roughly 79 cents and $1.32. At 89 cents, the stock is sitting toward the lower end of that range.

What investors should watch next

The next key event for shareholders will be the upcoming half-year results, expected in late February. Investors will be looking for updates on revenue growth, operating costs, and progress toward improving earnings.

Regulatory developments will also remain important. Online betting businesses operate under strict rules, particularly in overseas markets such as Canada.

Any further regulatory action could weigh on investor sentiment and put additional pressure on the share price.

The post PointsBet shares dip as investors digest latest news appeared first on The Motley Fool Australia.

The digital wagering operator said in a statement to the ASX that it had experienced strong growth in turnover during the second half, up 24.5%, on an expanded customer base of 163,504 active customers.

Betr's quarterly turnover came in at $444.4 million, up from $357 million, while year to date revenue was up 25.2% to $807.4 million.

M&A still in the wings

The company also said it continued to assess opportunities in terms of merger and acquisition activity, "consistent with our longstanding stated ambition''.

Betr said in its statement to the ASX:

We remain in active discussions with a number of existing and new industry participants regarding consolidation and partnership opportunities and will ensure appropriate disclosure should these discussions progress, in accordance with our continuous disclosure obligations.

Added to this, the company said it would undertake of buyback of up to 10% of its shares on issue.

The company said:

It is the view of the board of betr that the company's shares are trading below their intrinsic value, and thus the proposed buy-back represents an efficient way to reduce the number of shares on issue and enhance long term shareholder returns. Importantly, allocation of the Company's funds towards the Proposed Buyback will not impact the Company's capacity to execute on its M&A strategy. The final size and timing of the Proposed Buy-Back will depend on various factors, including market conditions, Betr's prevailing share price, future capital requirements, and any future unforeseen developments or circumstances.

The company said there was no guarantee that the buyback's 10% upper limit would be fully utilised.

Betr last year sought to take over fellow gambling company PointsBet Holdings Ltd (ASX: PBH), however was unsuccessful.

Set up to succeed

Chair Matthew Tripp said during the company's annual general meeting in November last year that Betr was "in its strongest position to date" with record turnover, a refreshed next-generation wagering brand and a management team which was able to "move fast and execute with discipline and focus".

Mr Tripp said the company was, "very strong in our core wagering business, we have a well-capitalised balance sheet, and there is strong shareholder support for further strategic options''.

Betr shares were 11.1% higher on the buyback news on Wednesday morning, changing hands for 25 cents.

The post Buyback news has this ASX All Ords gaming stock looking like a sure bet appeared first on The Motley Fool Australia.

Some invest in safe-haven stocks and assets, while others are willing to take on more risk in the hope of hitting the jackpot.

The Australian recently compiled a list of 10 Australian billionaires, and the stocks they like to invest their money into.

Gina Rinehart

The Australian heiress, billionaire mining magnate, and businesswoman has built a $2 billion stock portfolio through Hancock Prospecting. It consists mainly of mining stocks and exchange-traded funds. The company owns shares in US-listed stocks such as Tesla Inc (NASDAQ: TSLA), Fox Corp (NASDAQ: FOX), and Trump Media & Technology Group Corp (NASDAQ: DJT).

Hancock Prospecting also has exposure in Australian markets. Hancock is a major shareholder in gold producer Ballard Mining Ltd (ASX: BM1), which floated on the ASX on July 14, 2025. 

Gerry Harvey

Australian entrepreneur and executive chairman of Harvey Norman Holdings Ltd (ASX: HVN), Gerry Harvey, backs New-Zealand based Briscoe Group Ltd (ASX: BGP). Briscoe comprises homewares stores and now Rebel Sports outlets. 

Bruce Mathieson

Bruce Mathieson is known for his influence in the Australian pub, hotel, and gambling sectors. 

According to The Australian, Mathieson has some of his fortune locked up in Endeavour Group Ltd (ASX: EDV) shares, shares in Star Entertainment Group Ltd (ASX: SGR), and shares in Mayne Pharma Group Ltd (ASX: MYX). He also has shares in RAS Technology Holdings Ltd (ASX: RHL).

Chris Morris

Chris Morris built share registry services firm Computershare Ltd (ASX: CPU) and maintains a large holding in the business. He also has shares in US data storage company Seagate Technology Holdings PLC (NASDAQ: STX).

James Packer

The Crown Resorts Ltd (ASX: CWN) king sold out of the business in 2022 and has since invested money into US technology stocks. His biggest holdings are in Nvidia Corp (NASDAQ: NVDA), Taiwan Semiconductor Manufacturing Co Ltd (TPE: 2330), Shopify Inc (NASDAQ: SHOP), Spotify Technology SA (NYSE: SPOT), and Monday.Com Ltd (NASDAQ: MNDY).

Alan Rydge

Alan Rudge's wealth is mostly in two ASX-listed companies, which he has led for 45 years – Carlton Investments (ASX: CIN) and EVT Ltd (ASX: EVT). He is also a long-time stockholder of Harvey Norman shares.

Ed Craven

Ed Craven is Australia's youngest billionaire. He is well known for his cryptocurrency gambling empire Stake.com, and Kick streaming. He and his business partner Bijan Tehrani also have a 5% shareholding in Australian bookmaker Pointsbet Holdings Ltd (ASX: PBH).

Bruce Gordon

Bruce Gordon owns the Australian television network WIN Television through his ownership of WIN Corporation, the largest shareholder of Nine Entertainment Co Holdings Ltd (ASX: NEC). He also has shares in Singapore's mobile and telecommunication network Tuas Ltd (ASX: TUA).

Kerry Harmanis

Kerry Harmanis was the founder and executive chairman of Jubilee Mines NL, a highly successful Western Australian nickel miner which he established in 1987. Today, he still dabbles in mining shares, including Talisman Mining Ltd (ASX: TLM) and Centauras Metals Ltd (ASX: CTM).

Mark Creasy

Mark Creasy is one of Australia's most successful prospectors. He has a minority stake in nickel and lithium miner IGO Ltd (ASX: IGO), as well as a handful of other mining stocks. He recently invested into exploration company Lexington Gold Ltd (LON: LEX).

The post Australian billionaires: Which stocks do they own? appeared first on The Motley Fool Australia.

Four ASX shares that have failed to follow the market higher today are listed below. Here's why they are falling:

4DS Memory Ltd (ASX: 4DS)

The 4DS Memory share price is down 60% to 2.5 cents. Investors have been hitting the sell button today after the semiconductor company released an update on its Sixth Platform Lot. It is a new batch of memory wafers designed to demonstrate its 20-nanometre memory cells. The update stated: "[T]he initial analysis of the wafers within the entire Lot indicates that the necessary process modifications and optimizations introduced into the Sixth Platform Lot have not yielded the expected electrical testing and characterization results the Company was expecting."

ASX Ltd (ASX: ASX)

The ASX share price is down 6% to $68.25. This has been driven by news that the stock exchange operator has been hit with action by the Australian Securities and Investments Commission (ASIC). The corporate regulator plans to commence a compliance assessment and inquiry "into the obligations of ASX's market licensees and clearing and settlement licensees under ss794C and 823C of the Corporations Act." In response, ASX chair, David Clarke said: "We acknowledge the seriousness of this action, and ASIC's inquiry will have our full cooperation […] we acknowledge there have been incidents that have damaged trust in ASX."

Betr Entertainment Ltd (BBT)

The Betr Entertainment share price is down 5% to 30 cents. This follows news that Pointsbet Holdings Ltd (ASX: PBH) has rejected the sports betting company's takeover offer. It is pushing ahead with an offer from MIXI Australia instead. Pointsbet said: "The due diligence investigations undertaken by PointsBet reinforce the view of the PointsBet Board that the value of the Betr Proposal is materially below the $1.20 in cash per PointsBet share being offered by MIXI Australia."

Northern Star Resources Ltd (ASX: NST)

The Northern Star share price is down 6% to $21.15. This appears to have been driven by profit taking from some investors after gold miners raced higher on Friday in response to escalating tensions in the Middle East. It isn't just Northern Star that is falling. Almost all gold miners are down today. This has led to the S&P/ASX All Ords Gold index losing 3% on Monday.

The post Why 4DS Memory, ASX, Betr, and Northern Star shares are tumbling today appeared first on The Motley Fool Australia.

The All Ordinaries Index (ASX: XAO) sports betting company entered a trading halt just before market open on Tuesday. The company requested the pause in trading pending an update on the proposed takeover of PointsBet by Japanese entertainment company, MIXI Inc (TYO: 2121), via its wholly owned subsidiary, MIXI Australia.

The ASX All Ords stock closed on Monday trading for $1.085, prior to yesterday's trading halt.

With the stock back in action today following the release of that takeover update, the PointsBet share price surged to $1.205 in earlier trade, up 11.1%. After some likely profit taking, shares are currently changing hands for $1.19 apiece, up 9.7%.

Here's what's spurring ASX investor interest today.

PointsBet share price leaps on sweetened proposal

As you may be aware, PointsBet finds itself with not just one, but two suitors who've expressed an interest in acquiring all of its shares. That acquisition interest has helped drive a 44% increase in the PointsBet share price since 25 February.

MIXI was first on the scene, offering to pay $1.06 per share in cash in February. A proposal that management initially accepted.

But on 6 March, Betr Entertainment Ltd (ASX: BBT) threw a spanner into the works. Betr, PointsBet's largest shareholder, offered to acquire all of the PointsBet shares via a scheme of arrangement. The scheme valued PointsBet stock at $1.28 per share.

But the bidding war was far from done.

On 29 April, Betr improved and amended its offer, with a potential value of $1.33 per PointsBet share, via a combination of Betr shares and cash.

Which brings us back to today's announcement sending the PointsBet share price soaring.

Investors are reacting positively to news that the ASX All Ords gambling stock has received an improved proposal from MIXI.

Management said that PointsBet has now entered into a deed of variation with MIXI Australia to vary the original scheme from 25 February. MIXI's new takeover offer ups the ante by 13.2%, from $1.06 per share to $1.20 a share.

The proposal is not subject to financing.

Commenting on the improved deal sending the PointsBet share price soaring today, management noted:

The improved proposal implies an enterprise value of $402 million, an increase in value to PointsBet shareholders of $49 million. It also represents an implied EV/EBITDA multiple of 28.7 to 36.6 based on PointsBet's FY25 EBITDA guidance range.

If shareholders fail to support the current offer (with Betr indicating it is likely to vote no with its shareholdings), MIXI said it would consider proceeding with the acquisition via an off-market takeover bid with a 50.1% minimum acceptance condition.

MIXI said it would then still offer $1.20 a share in cash.

The post PointsBet share price surges 11% on improved takeover offer appeared first on The Motley Fool Australia.

Four ASX shares that have failed to follow the market higher today are listed below. Here's why they are falling:

Betr Entertainment Ltd (ASX: BBT)

The Betr Entertainment share price is down 4% to 34 cents. This morning, Pointsbet Holdings Ltd (ASX: PBH) revealed that it has received a new takeover offer from MIXI today. It has increased its cash consideration from $1.06 per share to $1.20 per share. Betr is hoping to acquire Pointsbet in a deal valued at $1.28 per share. However, the Pointsbet board continues to unanimously recommend MIXI's offer. The market may feel that MIXI is now in the driving seat.

Evolution Mining Ltd (ASX: EVN)

The Evolution Mining share price is down 2% to $9.30. This follows a pullback in the gold price overnight. It isn't just Evolution Mining that is falling today. A number of gold miners are under pressure on Wednesday, which has led to the S&P/ASX All Ordinaries Gold index falling 0.7% today.

NIB Holdings Limited (ASX: NHF)

The NIB Holdings share price is down almost 2% to $6.84. This may have been driven by profit taking from some investors following a strong gain since the start of the year. For example, despite today's decline, the private health insurer's shares are up 24% since the end of 2024. On Tuesday, the team at Morgan Stanley put an equal-weight (hold) rating on its shares with a price target of $6.85. This is largely in line with where its shares are trading today.

West African Resources Ltd (ASX: WAF)

The West African Resources share price is down 2.5% to $2.76. This morning, this gold miner released an update on its operations in Burkina Faso. According to the release, the company will be handing over an additional 5% stake in its operating projects to the Government of Burkina Faso in response to its new mining code. This will see the government's free-carried equity interest increase from 10% to 15% for its three operating projects. The West African Resources' executive chairman, Richard Hyde, commented: "WAF has agreed to align the Burkina Faso Government's equity ownership of its mining projects with the 2024 mining code, being a 5% increase in the State's free carried equity interest from 10% to 15%."

The post Why Betr, Evolution, NIB, and West African Resources shares are falling today appeared first on The Motley Fool Australia.

An ASX lodgement published at 9:59 am reveals PointsBet management is preparing a 'material update' on the proposed takeover by Japanese entertainment company, MIXI Inc (TYO: 2121), via its wholly owned subsidiary MIXI Australia Pty Ltd.

PointsBet will remain in a trading halt until the company makes an announcement or until the start of trading on Thursday.

PointsBet shares closed at $1.09 yesterday.

Let's recap.

PointsBet share price halted

Two companies are currently engaged in a bidding war for the corporate bookmaker.

MIXI proposed a 100% takeover via a scheme of arrangement in February, offering $1.06 per share, which PointsBet accepted.

At the time, the offer represented a 27.7% premium to PointsBet's closing share price of 83 cents on 25 February.

The deal was a cash offer, with investors set to relinquish their shares in exchange for consideration.

Then the company's biggest shareholder, Betr Entertainment Ltd (ASX: BBT) (formerly BlueBet), offered an alternative.

On 6 March, Betr offered to acquire 100% of PointsBet shares by way of a scheme of arrangement with an illustrative value to PointsBet shareholders of $1.28 per share.

Betr said its offer was superior to MIXI's proposal because it gave shareholders the opportunity to remain invested in a newly expanded Australian-owned wagering operator and benefit from more than $40 million in cost synergies and significant growth potential.

Betr's proposal offered shareholders a 'mix and match' structure allowing them to choose to take all cash, all scrip, or a combination.

On 29 April, Betr upped the ante with a revised proposal involving a "de-risked funding structure" with an implied equity value of $360 million, comprised of $260 million cash and $100 million in Betr scrip.

Betr said the revised proposal delivered a potential value outcome of $1.33 per share for PointsBet investors.

According to Betr:

Given the significant synergy prize in excess of $40 million annually and the opportunity to participate via betr scrip, the Proposal delivers a potential value outcome of $1.33 per share for PointsBet shareholders.

PointsBet said it would assess the proposal whilst remaining committed to the MIXI deal for the time being.

Unsurprisingly, Betr warned it intended to vote against the MIXI deal, arguing that its offer gave PointsBet investors superior value through greater scale, synergy opportunities, and a more compelling growth strategy.

PointsBet has since released the Scheme Booklet on the MIXI deal and set a shareholder vote for next Thursday, 12 June.

On 12 May, PointsBet announced it had determined that the Betr deal was worth exploring further via a mutual due diligence period.

PointsBet commented:

The PointsBet Board, with the assistance of external advisers, has considered the Proposal and determined that it could reasonably be expected to lead to a 'Superior Proposal', relative to the proposed scheme of arrangement between the Company and MIXI Australia Pty Ltd, a wholly-owned subsidiary of MIXI, Inc (the "MIXI Scheme").

Pointsbet therefore proposes that a form of mutual due diligence be undertaken by Pointsbet and Betr.

As is customary, this due diligence will be phased. PointsBet's initial focus will be on the value of synergies and Betr scrip, as the implied value of the Proposal for shareholders is heavily dependent on these two elements given that the Proposal contemplates a 57% cash / 43% scrip funding mix.

We haven't heard any news on the takeover since then.

Today, PointsBet investors are wondering if the impending update does, indeed, involve a superior offer from MIXI.

We'll have to wait and see.

The post PointsBet share price frozen amid takeover update appeared first on The Motley Fool Australia.

The stock in question is PointsBet Holdings Ltd (ASX: PBH), which has previously accepted a $1.06 per share takeover offer from MIXI.

However, that offer now pales in comparison to one that has been tabled by its largest shareholder, Betr Entertainment Ltd (ASX: BBT), which itself only merged with BlueBet less than 12 months ago. It also completed the acquisition of TopSport earlier this month.

What offer is being made for this ASX All Ords stock?

According to the release, Betr has submitted a new all-in proposal to acquire 100% of PointsBet at $1.33 per share. This values the company at $360 million and is a sizeable premium to the offer from rival suitor MIXI.

The deal includes $260 million in cash and $100 million in Betr scrip, giving PointsBet shareholders a chance to maintain exposure to the combined business.

The release notes that Betr already owns a 19.9% stake in PointsBet after acquiring shares from two of its largest holders. It has also confirmed it will vote against the MIXI proposal, arguing that its own offer delivers superior value through greater scale, deeper synergy opportunities, and a more compelling growth strategy.

For example, Betr expects to unlock more than $40 million in annual cost savings by consolidating brands, platforms, and operations. It is also confident in its ability to migrate PointsBet's customer base, pointing to its recent integration of TopSport and Betr clients.

To fund the offer, Betr has lined up $120 million in financing from National Australia Bank Ltd (ASX: NAB), a proposed sale of PointsBet Canada, and a fully underwritten $130 million equity raise. It is also offering to complete due diligence within three weeks to fast-track the deal.

Commenting on the offer, Betr's chair, Matthew Tripp, said:

Our Offer represents a clearly superior proposal for PointsBet shareholders to realise significant value. We have fully addressed the concerns raised by PointsBet in its Letter to Shareholders on 3 April 2025, including enhancing our funding certainty, synergy realisation, and due diligence timing.

Our proposal is supported by materially enhanced funding security, and as the largest shareholder in PointsBet, we now intend to vote our holding against the current MIXI proposal, reducing its likelihood of success. I am confident PointsBet shareholders will recognise the benefits of our proposal as we work towards again becoming leaders in the Australian wagering market.

The post Guess which ASX All Ords stock just received a new takeover offer appeared first on The Motley Fool Australia.

Four ASX shares that are not letting that hold them back are listed below. Here's why they are rising:

DroneShield Ltd (ASX: DRO)

The DroneShield share price is up 6% to 84.5 cents. This is despite there being no news out of the counter drone technology company today. However, with its shares down 35% over the past six months, some investors may believe that this has created a buying opportunity. Bell Potter would no doubt be encouraging investors to buy this dip. Its analysts recently put a buy rating and $1.10 price target on its shares. This implies potential upside of 30% for investors.

Magellan Financial Group Ltd (ASX: MFG)

The Magellan share price is up 1% to $8.18. This follows the release of the fund manager's latest funds under management (FUM) update. Although Magellan revealed a $500 million decline in FUM for the month of February, this may have been better than expected. Especially given how the ASX 200 index fell 4.2% during the month. Its fund outflows comprised net retail outflows of $200 million and net institutional outflows of $300 million.

Pointsbet Holdings Ltd (ASX: PBH)

The Pointsbet share price is up 2.5% to $1.11. This morning, Bluebet Holdings Ltd (ASX: BBT) released an announcement relating to its rejected takeover proposal for Pointsbet. It said: "The Offer is clearly superior to that offered by MIXI (MIXI Proposal), with an illustrative value to PointsBet 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."

West African Resources Ltd (ASX: WAF)

The West African Resources share price is up 10% to $2.08. This has been driven by the announcement of the gold miner's full year results. West African reported revenue of $730 million and a profit after tax of $246 million. CEO Richard Hyde commented: "WAF's Sanbrado production centre delivered another strong result in 2024 producing 206,622 ounces of gold at US$1,240 per ounce AISC, generating A$252 million cashflow from operations and A$246 million NPAT. Kiaka's construction remains on schedule and on-budget for first gold in Q3 2025."

The post Why Droneshield, Magellan, Pointsbet, and West African shares are racing higher today appeared first on The Motley Fool Australia.

One of the ASX shares is taking a tumble on the news, while the other is soaring higher on Thursday. For some context, the All Ordinaries Index (ASX: XAO) is up 0.4% in afternoon trade.

Here's what's happening.

ASX share leaps 9% on growth outlook

The first ASX gambling share grabbing headline news today is BetMakers Technology Group Ltd (ASX: BET).

Shares in the betting technology company are up 9.1% at the time of writing, changing hands for 12 cents each.

This follows the release of BetMakers' half-year results for the six months to 31 December (H1 FY 2025).

The ASX share reported revenue for the six months of $41.4 million, down 5.5% from the prior half, and a gross margin of 60%.

While adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) came in at a loss of $1.3 million, BetMakers noted this was an improvement on H1 FY 2024.

Investors look to be bidding up the BetMakers share price on a solid growth outlook. The company expects its EBITDA and operating cash flow trajectory to continue to improve in the second half of FY 2025. And it forecasts revenue growth for FY 2026.

BetMakers executive chair Matt Davey said:

Our new and upgraded technology suite is having a dual effect: it positions BetMakers at the forefront of global wagering, while delivering further efficiency gains, a combination that we expect to drive further improvements in the second half of FY25.

Which brings us to…

Gambling stock taking a tumble

Taking a tumble today is ASX gambling share BlueBet Holdings Ltd (ASX: BBT).

BlueBet shares were down a steep 9.9% in earlier trade today. But after some likely bargain hunting, shares have rebounded to 36 cents apiece at the time of writing, down 2.7%.

This follows on two pieces of big news.

First, BlueBet reported its H1 FY 2025 results today as well.

Highlights included a 116% year on year increase in turnover to $645 million. BlueBet achieved a gross win for the half of $91.3 million, up 128%, with the gross win margin increasing by 0.8% to 14.2%.

The net win margin increased by 0.1% from H1 FY 2024 to 10.4%. The ASX share saw its net win soar 120% to $67.4 million.

Commenting on the results, BlueBet CEO Andrew Menz said:

Our momentum has continued into the second half with our base business and the acquisition of TopSport presenting an attractive opportunity to accelerate our scale and to again deploy our repeatable integration and customer migration playbook.

So why is the ASX gambling share falling today?

With BlueBet reporting strong half-year results, why is the ASX share under selling pressure today?

Well, it may be related to the company's recent bid to acquire Pointsbet Holdings Ltd (ASX: PBH).

At the results release today, Menz said:

Our strategic consolidation of the Australian wagering market continues with our recent compelling offer for PointsBet, which is materially superior to the proposal recommended by the PointsBet board.

However, in another news release today, PointsBet rejected that offer, valued at between $1.02 and $1.09 per Pointsbet share, noting it did not appear to be superior to the prior takeover offer from MIXI.

PointsBet stated:

The PointsBet board considered the proposal and with the input of advice from the company's financial and legal advisers, the board determined that the proposal could not reasonably be expected to lead to a superior proposal to that announced earlier today from MIXI.

The post 2 ASX gambling shares making big moves on big news today appeared first on The Motley Fool Australia.

Four ASX shares that haven't let that stop them from rising today are listed below. Here's why they are climbing:

Bapcor Ltd (ASX: BAP)

The Bapcor share price is up 15% to $5.15. Investors have been buying this auto parts retailer's shares following the release of its half year results. Although its results were not amazing on paper, investors appear pleased with its cost reduction plans. Bapcor CEO Angus McKay said: "We expect to deliver cost savings towards the top end of our $20-30M target range in FY25 which will be second half weighted. We have been highly disciplined in how we manage working capital and our strong cash conversion has meant we were able to pay down debt, while investing to grow our Trade network and make significant strategic improvements in IT."

Light & Wonder Inc (ASX: LNW)

The Light & Wonder share price is up 7% to $169.21. This follows the release of the gaming company's FY 2024 results. Light & Wonder reported a 10% increase in revenue to a record of $3.2 billion and a 110% jump in net income to $336 million. CEO Matt Wilson, said: "We ended a strong 2024 with continued double-digit revenue and earnings growth for the year. The Gaming machine sales share gains in North America and Australia this year are a testament to our R&D investment, commercial strategy and robust product roadmap. Furthermore, we have also realigned studio needs, adding more talent and expanding existing studios." The company is guiding to low double-digit income growth in the first quarter of FY 2025.

Pointsbet Holdings Ltd (ASX: PBH)

The Pointsbet share price is up 31% to $1.09. Investors have been fighting to get hold of this sports betting company's shares after it accepted a takeover offer from Japan-based consumer technology company, MIXI. Pointsbet has agreed to a deal of $1.06 per share, which values it at $353 million. But the story may not end there. Bluebet Holdings Ltd (ASX: BBT) revealed that it also wants to acquire Pointsbet, which has sparked hopes that a bidding war could break out.

Worley Ltd (ASX: WOR)

The Worley share price is up almost 11% to $15.51. This has been driven by the release of the engineering company's half year results. Worley reported a 6.8% increase in revenue to $5.99 billion and a 14.9% increase in underlying NPATA to $216 million. Looking ahead, the company is targeting low double-digit EBITA growth in FY 2025.

The post Why Bapcor, Light & Wonder, Pointsbet shares are racing higher today appeared first on The Motley Fool Australia.

At the time of writing, the ASX tech stock is up 34% to $1.11.

This follows news that the sports betting company has accepted a takeover offer.

ASX tech stock jumps on takeover agreement

According to the release, Pointsbet has accepted an offer from MIXI that will see the latter acquire the company through a scheme of arrangement in an all-cash transaction.

MIXI is a Japan-based consumer technology company with a strong presence in mobile gaming, social networking, and sports management.

It operates publicly managed sports betting services and has over 1,600 employees worldwide. In Australia, MIXI operates as a licensed sports bookmaker in the Northern Territory under the betM brand.

A significant premium for shareholders

Under the terms of the agreement, PointsBet shareholders will receive $1.06 in cash per share. This represents a premium of:

• 27.7% to the closing price of PointsBet shares on 25 February 2025.
• 23.9% to the one-month volume-weighted average price (VWAP).

The offer also values the company at an enterprise value of $353 million and implies an enterprise value-to-EBITDA multiple of 25.2x – 32.1x based on PointsBet's FY 2025 EBITDA guidance range.

PointsBet board backs the deal

According to the release, the PointsBet board has unanimously recommended that shareholders vote in favour of the scheme. This is subject to no superior proposal emerging and an independent expert concluding that the offer is in the best interests of shareholders.

Furthermore, all PointsBet directors intend to vote their own shares in favour of the deal under the same conditions.

However, the acquisition remains subject to several key conditions. This includes shareholder and regulatory approvals. But if all conditions are met, the takeover is expected to be completed by mid-June 2025.

Commenting on the agreement, PointsBet's chair, Brett Paton, said:

The PointsBet Board unanimously recommends that PointsBet shareholders vote in favour of the Scheme, subject to the qualifications outlined in this announcement. When considering any proposal, the PointsBet Board has consistently stated it is committed to maximising value for PointsBet shareholders.

The PointsBet Board believes this transaction represents a compelling opportunity for PointsBet shareholders to realise certain cash value, at a significant premium to recent trading prices and at an implied FY25e EV/EBITDA multiple which compares very favourably with historical sector trading multiples and multiples associated with other transactions in the sector.

Competing offer

Just before the market open, Bluebet Holdings Ltd (ASX: BBT) announced that it has made a competing takeover offer.

The rival sports betting company said:

BlueBet believes its offer, which has a combined equity value of $340 – $360 million through a cash pool of $240 – $260 million and scrip consideration of $100 – $120 million, and with identified synergies expected to be at least $40 million annually, presents a highly attractive offer for PointsBet shareholders, and BlueBet remains committed to exploring and progressing this proposal with PointsBet.

Results

PointsBet also released its results this morning for the first half of FY 2025.

It reported a 6% increase in revenue to $124.4 million but an EBITDA loss of $3.3 million, and a net loss after tax of $17.2 million.

The post Guess which ASX tech stock is rocketing 34% on takeover bidding war news appeared first on The Motley Fool Australia.

Four ASX shares that have failed to follow the market higher today are listed below. Here's why they are falling:

Magellan Financial Group Ltd (ASX: MFG)

The Magellan share price is down a further 8% to $10.49. This is the second day in a row that the fund manager's shares have fallen heavily. On Thursday, Magellan announced a number of executive and investment team changes. This includes the exit of Gerald Stack from his role as Head of Investments after 18 years with the firm. It notes that Stack has been Magellan's Head of Investments for more than a decade and over the past two years has contributed to important initiatives to strengthen the Investment Team. Magellan advised that Stack "now feels the business has the stability and direction it needs for the future and will take some time off before pursuing his next opportunity."

Medadvisor Ltd (ASX: MDR)

The Medadvisor share price is down almost 3% to 18 cents. This appears to have been driven by a broker note out of Bell Potter. Its analysts have downgraded this medtech company's shares to a hold rating (from buy) and slashed the price target on them to 21 cents (from 40 cents). This follows the release of a very disappointing quarterly update which fell well short of expectations.

Origin Energy Ltd (ASX: ORG)

The Origin Energy share price is down 4.5% to $10.70. Investors have been selling this energy company's shares following the release of its second quarter update. Although there were a lot of bright spots in the update, these were overshadowed by a downgrade to Australia Pacific LNG (APLNG) production guidance. Its FY 2025 production guidance for APLNG is now 670–690 petajoules (PJ). This is down 2% to 3% from its previous forecast of 685–710 PJ. This reflects lower-than-expected benefits from well optimisation efforts at Condabri, Talinga, and Orana, as well as reduced performance from non-operated assets and unplanned maintenance.

Pointsbet Holdings Ltd (ASX: PBH)

The Pointsbet share price is down 17% to 81 cents. This has been driven by the release of the sports betting company's quarterly update. Pointsbet posted a quarterly total net win of $69.9 million, which was flat on the prior corresponding period. It also revealed that its normalised EBITDA was negative $3.3 million for the first half.

The post Why Magellan, Medadvisor, Origin Energy, and Pointsbet shares are tumbling today appeared first on The Motley Fool Australia.

Some of these stocks are hitting new all-time high territory today, while others are setting new 52-week-plus highs.

Which outperforming companies are we talking about?

Read on!

Five ASX All Ords stocks notching new highwater marks

The first ASX All Ords share hitting new all-time highs today is biopharmaceutical company Telix Pharmaceuticals Ltd (ASX: TLX).

Telix is primarily focused on developing diagnostic and therapeutic products to help treat different types of cancer. Following a series of successes that saw the company boost its first-half revenue in 2024 by 65% year over year to $364 million, investors have been piling into the stock.

Telix shares are up 1.7% at the time of writing, trading for $24.19 each after touching a new record high of $24.21 earlier today. That puts the share price up 149% in a year and up a blistering 1,321% in five years.

Moving onto the second outperforming ASX All Ords share, this one hitting six-year highs, we have fleet management and vehicle leasing company SG Fleet Group Ltd (ASX: SGF).

SG Fleet shares are currently changing hands for $3.33 apiece after hitting a record $3.41 near the open. That's the highest level since October 2018. Shares are up 45% over the past year. The stock got a big boost earlier this week after reporting on takeover discussions with Pacific Equity Partners that value SG Fleet stock at $3.50 a share.

Which brings us to today's third ASX All Ords share gainer — this one also hitting an all-time high — specialist software provider Gentrack Group Ltd (ASX: GTK).

Gentrack shares are up 3.2% at the time of writing today, trading for $12.80 apiece, a slight drop from its record $12.92 price at lunch time. That sees the share price up 134% in a year.

The stock leapt 28.1% on Tuesday this week following some strong full-year results. That included a 25.5% year on year revenue leap to NZ$213.2 million.

Moving on to the fourth ASX All Ords share on our list, which is hitting eight-year highs, is global sports data and analytics company Catapult Group International Ltd (ASX: CAT).

The Catapult share price is up 1.7% at the time of writing, with shares swapping hands for $3.60 apiece. That sees Catapult shares up 188% in a year and trading at their highest levels since August 2016.

Catapult shares have also been drawing investor interest amid growing revenue. On 14 November, the company reported a half-year revenue of US$57.8 million, up 19% year-on-year.

Rounding off our list of outperforming ASX All Ords shares, posting 54-week highs today, is sports betting company Pointsbet Holdings Ltd (ASX: PBH).

The Pointsbet share price is up 1.9% at the time of writing, at $1.05, after peaking at $1.07 in early trade. That sees Pointsbet shares up 38% in a year and trading at their highest level since last September.

The stock has been in a strong uptrend since early September amid improving profit margins and declining operating expenses.

The post 5 ASX All Ords shares smashing new highs while the market slides appeared first on The Motley Fool Australia.

Pointsbet describes itself as a corporate bookmaker listed on the ASX with operations in Australia and Canada. It has a cloud-based wagering platform where clients can use sports and racing wagering products and iGaming.

Despite the huge decline, the investment team at Wilson Asset Management (WAM) see an opportunity with this business.

It's not as big as it was – the corporate bookmaker now has a market capitalisation of just over $300 million, according to the ASX. That's why the ASX share attracted the investment dollars of WAM Microcap Limited (ASX: WMI), a listed investment company (LIC) that aims to target the "most exciting undervalued growth opportunities in the Australian micro-cap market."

Let's have a look at why the fund manager likes this business.

Bull case for the ASX share

The WAM team point out that Pointsbet's quarterly update for the three months to September 2024 delivered revenue growth across Australia and Canada.

According to the fund manager, the Australian business delivered 7% growth in net wins during the quarter due to market share gains, a richer product mix, and more efficient promotional spending.

WAM said the Canadian business performed well, reporting strong growth in sports wagering and iGaming net wins, with increases of 77% and 50%, respectively.

Pointsbet's management believes the Canadian business is on track to achieve breakeven cash flow in the financial year.

Overall, the ASX share reported total net win growth of 12% to $65.3 million, with sports betting seeing a 3% rise in turnover to $626.8 million and a 10% increase in net wins. It also revealed a 15% year over year rise in gross profit and a 5% increase in cash active clients to 287,400.

But, Pointsbet did report that its operating cash flow, excluding movement in player cash, was an outflow of $5.6 million.

The investment team thinks the company's focus on leveraging its existing technology and brand marketing spend will "drive further operational leverage in both Australia and Canada".

WAM suggested that if the ASX share's management meets the FY25 target for operating profit (EBITDA) of between $11 million to $16 million, it expects a "positive step-change in Pointsbet Holdings' valuation".

Pointsbet has also guided it's expecting total revenue of between $280 million to $290 million, with both Australia and Canada expected to outperform the market and grow market share.

The post Up 111% in six months, this soaring ASX share is backed to keep rising appeared first on The Motley Fool Australia.

Four ASX All Ords shares that didn't let that stop them from rocketing today are named below. Let's see why they started the week with a bang:

Meteoric Resources NL (ASX: MEI)

The Meteoric Resources share price was up as much as 14% before closing the session with a 9.5% gain to 11.5 cents. This was despite there being no news out of the mineral exploration company. Though, with its shares down 55% since the start of the year, some investors may believe they have been oversold and were snapping them up today.

Novonix Ltd (ASX: NVX)

The Novonix share price ended the day 12.5% higher at 81 cents. The catalyst for this was news that the battery materials technology company has signed a binding high-performance synthetic graphite material offtake agreement with auto giant Stellantis. It is the owner of brands such as Citroen, Fiat, Jeep, Maserati, and Peugeot. Stellantis has signed up for offtake of a minimum of 86,250 tonnes and up to a target volume of 115,000 tonnes of the high-performance synthetic graphite material. Novonix's CEO, Dr. Chris Burns, said: "We are excited to have Stellantis' commitment, now as our largest customer, to support their North American EV growth plans."

Pointsbet Holdings Ltd (ASX: PBH)

The Pointsbet share price ended the day with a 10% gain to 97.5 cents. Investors were buying the sports betting company's shares amid speculation it could be a takeover target. However, the ASX All Ords share has denied that this is the case. It said: "Generally, PointsBet does not comment on rumour or speculation. However, the Company confirms that it is not in discussions as suggested in the Article." It seems that some investors believe there's no smoke without fire and that a deal could yet materialise despite this denial.

Weebit Nano Ltd (ASX: WBT)

The Weebit Nano share price was on form and jumped almost 15% to $2.73. This is despite there being no news out of the semiconductor company. In fact, there hasn't been any meaningful news since WeeBit Nano released its quarterly update in late October. That update revealed another poor quarter zero cash receipts and a $5.5 million cash burn. This ASX All Ords share remains down approximately 37% since the start of the year despite today's strong gain.

The post 4 ASX All Ords shares rocketing over 10% today appeared first on The Motley Fool Australia.

Four ASX shares that are not letting that hold them back are listed below. Here's why they are rising:

Black Cat Syndicate Ltd (ASX: BC8)

The Black Cat Syndicate share price is up 10% to 59 cents. This follows the release of an update on the turn-key funding, development, and processing package at the Myhree/Boundary open pits. These are part of the 100% owned Kal East Gold Operation. Black Cat's Managing Director, Gareth Solly, said: "Excellent progress is being made at Myhree/Boundary with accelerated mining delivering ~110kt of Ore, well ahead of schedule. Expedited cashflow from Myhree/Boundary will complement the recent $80M placement and underpin Black Cat producing more gold, sooner from multiple operations."

Dicker Data Ltd (ASX: DDR)

The Dicker Data share price is up 3% to $9.12. This morning the computer hardware and software distributor announced its latest dividend payout. Dicker Data will be rewarding its shareholders with a fully franked 11 cents per share quarterly dividend. This is up 10% on the prior corresponding period. Dicker Data's shares will go ex-dividend for this payout on 14 November. Pay day will then follow at the start of next month on 2 December.

Novonix Ltd (ASX: NVX)

The Novonix share price is up 14% to 82 cents. This morning the battery materials technology company announced a binding offtake agreement with Stellantis. It is one of the world's leading automakers and owns brands such as Citroen, Fiat, Jeep, Maserati, and Peugeot. Stellantis has signed up for offtake of a minimum of 86,250 tonnes and up to a target volume of 115,000 tonnes of high-performance synthetic graphite material. Management revealed that the price of synthetic graphite products sold under the offtake agreement will be based on an agreed upon market-based price formula. Novonix's CEO, Dr. Chris Burns, said: "We are excited to have Stellantis' commitment, now as our largest customer, to support their North American EV growth plans."

Pointsbet Holdings Ltd (ASX: PBH)

The Pointsbet share price is up 6% to 94 cents. This is despite there being no news out of the sports betting company on Monday. Though, it is worth noting that rival Draftkings released its quarterly update on Friday. It's possible that investors have seen some positives for Pointsbet from this update.

The post Why Black Cat, Dicker Data, Novonix, and Pointsbet shares are racing higher appeared first on The Motley Fool Australia.

Four ASX shares that are not letting that hold them back are listed below. Here's why they are rising:

Pointsbet Holdings Ltd (ASX: PBH)

The Pointsbet share price is up 2% to 80.75 cents. This may have been driven by a broker note out of Bell Potter. This morning the broker retained its hold rating but lifted its price target to 80 cents. It commented: "PointsBet released its Appendix 4C for 1QFY25 and, in short, it was a good quarter. The key highlights were: Turnover/handle up 3% to $626.8m; Net win (excl. iGaming) up 10% to $60.7m."

Qantas Airways Limited (ASX: QAN)

The Qantas share price is up 1% to $8.17. This is despite there being no news out of the airline operator on Friday. Though, it is worth noting that a number of travel shares are rising today. It is possible that with all their quarterly updates out of the way now, investors are piling into this side of the market once again. Following today's gain, the Qantas share price is now up an impressive 13% in a month and 64% since this time last year.

Serko Ltd (ASX: SKO)

The Serko share price is up a further 4% to $3.22. Investors have been buying this travel technology company's shares this week after it released its half year results. Serko reported an 18% increase in total income to NZ$42.7 million for the six months. And while it still recorded a net loss of NZ$5.1 million, this was a NZ$2.1 million improvement year on year. In addition, the company revealed that it is expanding its existing business in North America. This includes through a long-term partnership with global travel software and technology provider Sabre Corporation (NASDAQ: SABR). Part of the agreement will see Serko acquire Sabre's business travel management solution, GetThere. This will make it the number two online booking tool provider in North America.

Yandal Resources Ltd (ASX: YRL)

The Yandal Resources share price is up 7% to 31 cents. This morning, this gold explorer revealed that it is commencing follow up drilling at the emerging Siona gold discovery. Management advised that the 12-hole, 2,500 metre reverse circulation program will look to confirm the geometry and test the extent of mineralisation. Managing Director, Chris Oorschot, said: "With the Company in a strong cash position, the team is now focused on developing the Siona geology model as drilling progresses and delivering high-quality samples to the lab as efficiently as possible."

The post Why Pointsbet, Qantas, Serko, and Yandal shares are pushing higher today appeared first on The Motley Fool Australia.

Despite an attempted comeback rally last month, where shares jumped from 48 cents to highs of 73.5 cents apiece on September 26, the stock has tracked sideways since.

But according to one asset manager, the sports betting and iGaming company's recent strategic decisions and core technology make it an attractive acquisition target.

Here's why it sees value in PointsBet's assets and growth trajectory.

ASX All Ords stock potential takeover target

Despite the ASX All Ords stock's underperformance this year, TAMIM Asset Management sees the company as a ripe takeover candidate.

Several factors play directly into the investment thesis. But there are further tailwinds that might be bullish for PointsBet itself, the firm says.

PointsBet presents as an attractive takeover opportunity due to its strong market position, proprietary technology, and trajectory toward profitability. Its established presence in the regulated markets of Australia and Canada, coupled with its continued projection to scale makes it a prospect for both industry incumbents and new entrants.

As PointsBet transitions to sustainable profitability with improved operating earnings and strong revenue growth, its attractiveness to potential acquirers grows.

The sports betting industry has been marked by significant mergers and acquisitions. Emerging challengers, such as Betr, or even crypto and online gaming operators like Stake, may view PointsBet as a critical asset to expand their product offerings and strengthen their competitive positions.

The fund manager views PointsBet as a strong player in the regulated markets of Australia and Canada.

This is thanks largely to its unique, proprietary tech assets like the "Odds Factory" platform.

PointsBet has demonstrated strong revenue growth and improving profitability, exemplified by its scalable, cloud-based wagering platform that offers advanced sports and racing wagering products, along with iGaming and advanced deposit wagering on racing.

TAMIM also emphasised the ASX All Ords stock's exit from the US market was a strategic move. The sale, made through a US$225 million sale to Fanatics, was "pivotal" for the gaming company.

A recent significant development for PointsBet was the sale of its U.S. business to Fanatics for US$225 million. This transaction was completed after an intensive and competitive process, culminating in the return of AUD $442.4 million to shareholders, equivalent to A$1.39 per share.

The sale marked a pivotal restructuring phase for PointsBet, with the company retaining ownership of its core technology. This proprietary tech remains a key asset as PointsBet focuses on expanding its Australian market share and growing its Canadian operations.

What about PointsBet's fundamentals?

Aside from the growth opportunity, the fund manager also mentioned the ASX All Ords stock's actual financial results as a tailwind.

It noted PoinstBet's growth percentages in FY24, where operating earnings jumped to $27 million from $0.1 million the year prior.

In Canada, PointsBet grew revenue by 87% on a tighter operating loss. Moving forward, TAMIM sees plenty of upside in the nation.

PointsBet showed further improvement in the Canadian market. Revenue grew 87% and the company's operating loss narrowed to $19.7 million from $35.8 million the prior year…

…Management are forecasting Canada to breakeven by FY25 year end. 

Moving forward, TAMIM says the Canadian market offers "significant growth potential" for the ASX All Ords share.

Whereas here in Australia, it expects just under $300 million in sales in FY25, pulling this to around $16 million at the upper end of guidance.

Time will tell whether or not the company converts on its Canadian opportunity.

Nevertheless, the firm says it is well-positioned for future growth, with around $20 million in net assets and $28 million in cash.

PointsBet was also rated a buy from Bell Potter in August.

Foolish takeout

TAMIM Asset Management suggests this ASX All Ords stock is a prime takeover candidate. It likes the innovative tech and established market position, which could attract both established players and emerging entrants.

The stock has slipped 3% in the last 12 months. In January 2021, it hit a high of $15.15 per share.

The post Down 30% in a year, this ASX All Ords stock 'presents as an attractive takeover opportunity' appeared first on The Motley Fool Australia.

At the time of writing, the small cap ASX stock is up 19% to 59.5 cents.

This follows the release of the sports betting company's full year results.

Small cap ASX stock rockets on results day

• Net win up 16% to $267.1 million
• Gross profit margin improved 2.5 percentage points to 52.8%
• Operating expenses down by $10.3 million
• Normalised EBITDA loss of $1.8 million

What happened during the year?

It certainly was a transformative year for the small cap ASX stock. During the 12 months, the company sold its US operations and returned the majority of the proceeds to shareholders.

What was left of the business (Australia/Canada), delivered a 16% increase in net win to $267.1 million. This was in line with its guidance for growth of 10% to 20% over FY 2023's numbers.

Coming in ahead of its guidance was its gross profit margin, which lifted to 52.8%. This compares to its guidance of ~50%.

And at the low end of its guidance range (in a positive way) were its operating expenses of $60.4 million. Management was targeting expenses of $60 million to $70 million.

But the cherry on top was that its EBITDA loss narrowed to just $1.8 million from $49 million a year ago. This was better than management's guidance of a loss of $4 million to $6 million.

Management commentary

The small cap ASX stock's CEO and chair were pleased with the 12 months. In a joint statement, they said:

This outstanding result has been driven by record full year Group Net Win of $267.1 million, up 16% on FY23. Our improved efficiency and productivity has also been a critical catalyst. We continue to invest for further growth, in particular in our core technology and product capabilities and through our strategic marketing investment. This is driving our market share growth in Australia and Canada and setting the Company up for further success in FY25 and beyond.

Commenting on the future, they add:

We are excited about the future ahead of PointsBet. Firstly, our proprietary tech stack is a global market leader as validated by our sale of the platform to the Fanatics. While we have sold a copy of the technology to the Fanatics, importantly we also get to keep the technology. That means we can develop and exploit it in a manner that creates the most value for PointsBet shareholders.

Outlook

Pointsbet is guiding to the following in FY 2025:

• Revenue of $280 million to $290 million, representing growth of 14% to 18%.
• Positive EBITDA of $11 million to $16 million (from a $1.8 million loss)
• Cash flow breakeven in FY 2025

The post Guess which small cap ASX stock is racing 19% higher thanks to a very strong FY24 result appeared first on The Motley Fool Australia.