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  • May 03, 2025
  • Gambling News

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

A senior industry source reveals that Hard Rock Digital has sought an igaming licence from the Alcohol and Gaming Commission of Ontario (AGCO), marking further progress in the possible sale of PointsBet Canada. 

 

$232 Million Proposal 

As mentioned earlier this week, Betr Entertainment’s efforts to acquire PointsBet Holdings Ltd., located in Melbourne, Australia, are directly linked to the prospects of PointsBet Canada. 

Betr is presently engaged in a bidding contest with Japanese entertainment behemoth MIXI to acquire the competing firm PointsBet. 

Betr holds a 19.9% stake in PointsBet, making it the biggest shareholder of the company. In July 2024, BlueBet Holdings merged with Betr, and BlueBet took on the Betr brand. 

 

Betr Enhanced Proposal for PointsBet 

In February, PointsBet's board released a statement confirming their acceptance of a MIXI acquisition proposal. The board was worried that Betr’s offer relied more on acquiring debt. 

Recent reports indicate that Betr has enhanced its offer to a total of AU $360 million (USD $232.4 million), consisting of cash and shares. In April, MIXI made a takeover offer of AU $350 million. 

As part of Betr's new proposal, they plan to sell PointsBet Canada, with Hard Rock as the purchaser. A Betr news announcement on April 29 verified that: “We have obtained a non-binding offer from Seminole Hard Rock Digital, LLC to purchase specific assets associated with PointsBet’s Canadian activities, contingent upon several conditions precedent.” Hard Rock would compensate Betr US $29.6 million for PointsBet Canada if everything proceeds as planned. 

As per the industry insider, who has ties to 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].”

 

Divesting PointsBet Canada as Part of Offer 

So far, there has been no response from PointsBet Canada or Hard Rock Digital. 

In the previous week, a representative from AGCO stated:

"We can confirm that there are igaming operator applications in progress for AGCO registration. The company you have referenced [Hard Rock] has not applied for registration.”

Hard Rock Digital serves as the igaming division of Hard Rock International and Seminole Gaming, based in Hollywood, Florida, with locations in Austin, Atlantic City, and Toronto. 

iGaming Ontario reports that as of now, there are 49 licensed operators and 84 gaming sites in Ontario.