Betr Entertainment, the company which influencer-turned-boxer Jake Paul co-owns, has launched a takeover bid for PointsBet Holdings, according to the latest reports.

The news comes weeks after an offer from Japanese entertainment company MIXI did not pass a shareholder vote and Betr have said that as a 19.6% shareholder in PointsBet, it believes that its offer represents a superior proposal for all PointsBet shareholders compared to MIXI’s bid.

In terms of the latest news, Betr’s offer allows shareholders to benefit from the value created by the combined businesses, including $44.9 million in annual cost synergies—estimated to be worth up to $0.67 per PointsBet share if fully realized.

Betr contends that, when combined with its $1.22 per-share offer, these synergies represent a potential total value of up to $1.89 per PointsBet share.

This offer follows a controversial shareholder vote in late-June after a disputed shareholder vote in late June on MIXI’s $402 million takeover bid.

A system error during the meeting, explained by share registry Computershare, led to a vote-counting mistake. Betr claimed its vote was wrongly excluded, as the results showed 95.69% of PointsBet shareholders supported the deal.

However, revised results of the shareholder meeting showed that 70.48% voted to approve the resolution, short of the 75% threshold.

When Betr announced its plan to make an all-scrip offer in late June, Chair Matthew Tripp sent an open letter to PointsBet shareholders promoting the new deal.

“This is a compelling opportunity to consolidate value in the Australian wagering sector. Our offer provides PointsBet shareholders with flexibility — either cash for immediate liquidity or the ability to participate in the long-term upside of the combined entity,” Tripp said.

“The combination of complementary wagering brands, like PointsBet and betr, is a model our team has deployed many times over the past 25 years with great success,” said betr executive chairman Tripp in a letter to PointsBet’s shareholders. “We are the team behind the acquisition, scaling and sale of some of the biggest brands in this country, including Sportsbet, Sportingbet, BetEasy and CrownBet.

“I am confident that the combination of PointsBet and betr will create a profitable and valuable business in this attractive sector. I am also confident that the combination will ultimately create enhanced shareholder value for all PointsBet Shareholders, of which betr is the largest, with our company holding 19.6 per cent of all PointsBet Shares.”