BetMakers has reported a solid financial performance for the first quarter of fiscal year 2027, showcasing a 16.3% revenue increase to approximately AU$24.7 million (£12.5 million). The company’s adjusted EBITDA surged by 176.1% year-on-year, rising to AU$5.9 million (£3.1 million). This growth has been attributed to advancements in digital operations and enhanced gross margins, as the company gears up for its anticipated acquisition by Tabcorp, an Australian gambling operator.
In the third quarter of 2026, the firm exhibited strong results through its Apollo and Global Tote platforms. Notably, Apollo reached record levels of activity, a trend that continued beyond the quarter as major Australian horse racing events, including the Caulfield Cup and The Everest, occurred.
BetMakers’ gross margin climbed to 69.1%, up from 63.9% a year prior, now nearing the target of 70%. Meanwhile, net cash reserves improved to AU$2.8 million from AU$1.2 million in the same quarter of the previous fiscal year.
Jake Henson, the CEO of BetMakers, commented on the results: "Reaching AU$24.7 million in quarterly revenue while generating AU$2.8 million in operating cash flow and AU$5.9 million in Adjusted EBITDA highlights the strong commercial adoption of our products and the continued operational discipline of our global team. Our agile, technology-driven business model provides operational leverage as we scale, and we continue to observe a robust pipeline of new opportunities to support this growth."
Regarding the proposed acquisition, which values BetMakers at AU$283 million (£148 million), the company's share price has shown stability, trading around AU$0.24 per share over the past six months. The acquisition was publicly announced in August, estimating the enterprise value at AU$267 million (£140 million). Both parties have settled on a purchase price of AU$0.24 per share for all issued shares of BetMakers, aiming to complete the process by the third quarter of FY2027, subject to necessary approvals and completion measures.
In September, prior to this report, BetMakers noted an impressive 205% increase in EBITDA compared to FY2026, further emphasizing the positive trajectory of the company.
