Strategic Acquisition Aims to Build Global B2B Growth Engine and Modernise Technology Stack
Tabcorp has agreed to acquire wagering technology provider BetMakers for approximately A$283m in a deal designed to accelerate its ongoing corporate transformation and establish a global B2B growth engine. Announced over the weekend, the transaction involves Tabcorp paying A$0.24 per BetMakers share, yielding an enterprise value of approximately A$267m. This valuation represents significant premiums of 41%, 42%, and 37% to BetMakers’ one-, three-, and six-month volume-weighted average share prices, respectively.
Confirmation of the agreement follows a previous denial by BetMakers in February regarding media reports that an acquisition by Tabcorp was imminent. While discussions had previously taken place and ended, initial talks involved Tabcorp CEO Gillon McLachlan and BetMakers chair Matt Davey.
Modernising Wagering Technology and International Expansion
According to Tabcorp, the acquisition will fast-track the modernization of its wagering technology stack by integrating BetMakers’ product suite to replace existing platforms and enhance operational speed and efficiency. Furthermore, the deal expands Tabcorp’s international B2B capabilities by combining BetMakers’ wagering infrastructure, data, analytics, and tote technology with Tabcorp’s rights, content, and customer relationships.
Australia-based BetMakers delivers B2B wagering infrastructure, data and analytics, racing content, and pari-mutuel technology across regulated markets in Australia, Asia, Europe, the UK, and the Americas through its ‘Global Betting Services’ and ‘Global Tote’ divisions. Subject to regulatory and shareholder approvals, the acquisition is anticipated to close in Q3 of Tabcorp’s 2027 financial year, potentially making BetMakers a part of Tabcorp in the opening months of the 2027 calendar year. Tabcorp is targeting approximately A$30m in run-rate cost synergies by the end of the second year following completion, driven by operational efficiencies and technology savings.
Executive Commentary
Gillon McLachlan, Managing Director and CEO of Tabcorp, emphasized that the purchase strongly supports the company’s strategic transformation.
“The acquisition of BetMakers will accelerate our strategy across multiple areas,” McLachlan stated. “BetMakers has undergone a significant transformation over the past two years and built impressive wagering technology and a talented team. Accessing those advantages will uplift our own tech capability and fast track our product ambitions, particularly for our unique media and tote offering.”
BetMakers CEO Jake Henson shared a similarly optimistic outlook regarding the collaboration:
“Bringing together Tabcorp’s rights, content and relationships with BetMakers’ platforms, data and B2B wagering services will create a more complete and compelling global offering for our customers, and an exciting future for our people.”
BetMakers Closes FY26 with Robust Financial Results
The acquisition agreement arrives on the heels of a strong final quarter of FY26 for BetMakers. The company reported A$24.2m in Q4 revenue, a 9.4% year-on-year increase, while adjusted EBITDA climbed 89.3% to A$4.5m. Gross margins reached 68.5%, supported by new and expanded partnerships with operators such as Stake, CrownBet, ATG, BetConstruct, Evoke, and UK Racing. This period also marked the full technology integration with Stake following their December 2025 agreement, providing Stake access to fixed-odds pricing, trading capabilities, racing data, streaming, and Racelab products.
