Tabcorp Holdings has entered into a binding agreement to acquire BetMakers Technology Group for approximately AU$267 million (US$188.6 million), months after initial takeover talks between the two fell through.
The deal, announced via an the Australian Securities Exchange (ASX) filing, aims to integrate BetMakers’ wagering technology platforms and B2B services into Tabcorp’s wagering and media operations.
Under a Scheme Implementation Deed, Tabcorp has offered to purchase all outstanding BetMakers shares at $0.24 per share. The price reflected an enterprise value of about $267 million and an equity value of roughly $283 million on a fully diluted basis.
The acquisition will be funded primarily by Tabcorp’s cash reserves and undrawn debt facilities.
The offer price represented a premium to BetMakers’ recent market trading. BetMakers reported an unaudited EBITDA of $14 million for the 12 months ending 30 June 2026.
‘Accelerate our strategy’
Tabcorp’s leadership described the acquisition as a means to accelerate the modernisation of Tabcorp’s technology platform.
“The acquisition of BetMakers will accelerate our strategy across multiple areas. 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,” Tabcorp’s chief executive officer, Gillon McLachlan, said.
“Having spent time with the Tabcorp team, it is clear we share a common purpose: to build a market-leading global wagering and media business,” added Jake Henson, CEO of BetMakers.
“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.”
Financial implications
Tabcorp expects to realise cost synergies of up to $30 million by the end of its second year of ownership.
These savings are expected to come from consolidating data centres, corporate applications and technology contracts, replacing its legacy platforms with BetMakers’ product suite, and achieving efficiencies within corporate and support functions.
The transaction is also forecast to be earnings-per-share (EPS) accretive from the second year post-completion, reaching double-digit EPS accretion by the third year.
Shareholders of BetMakers have the option to elect to receive up to 25% of their consideration in new Tabcorp shares.
Deal conditions
The proposed acquisition will remain subject to a number of customary conditions, including approval from BetMakers’ shareholders and the courts and clearance from the Australian Competition and Consumer Commission.
They will also be waiting on regulatory consents from gaming and racing authorities in jurisdictions where BetMakers operates.
The parties will target completion of the transaction in the third quarter of Tabcorp’s 2027 financial year, pending final regulatory and shareholder approvals.
A scheme booklet and independent expert’s report are scheduled for distribution to BetMakers shareholders in late 2026.
Second time’s a charm
Tabcorp’s takeover of BetMakers was first floated in December 2025. Tabcorp sought out BetMakers on the back of a positive 2025 financial year. After reporting a rise in revenue and a return to net profit, McLachlan described the company as ‘fitter’ and ‘improved’.
However, talks did not proceed past an ‘informal’ discussion according to both companies in February this year.
Additionally, Tabcorp incurred penalties totalling more than $2.7 million from the Australian Communications and Media Authority (ACMA) earlier this year. ACMA clarified that Tabcorp had violated telemarketing and spam regulations over a 16-month period.
Last year, BetMakers agreed to acquire Las Vegas Dissemination Company (LVDC). BetMakers said LVDC is expected to generate approximately $4.5 million in revenue in the first year post-acquisition.
Kathryn Evans
Kathryn covers bitesize breaking news with a primary focus on EMEA and US legislation. A proud North Walian, fluent Welsh speaker and lifelong Wrexham FC fan – long before Hollywood came calling.
Original article: https://igamingbusiness.com/strategy/tabcorp-to-acquire-betmakers-in-267-million-deal/
