Tabcorp Holdings has signed a binding agreement to acquire BetMakers Technology Group for approximately AU$267 million (US$188.6 million), following a previous breakdown in takeover discussions. The announcement was made through a filing with the Australian Securities Exchange (ASX).
This strategic acquisition is aimed at integrating BetMakers’ wagering technology platforms and B2B services into Tabcorp’s existing wagering and media operations. According to the terms outlined in the Scheme Implementation Deed, Tabcorp plans to buy all outstanding shares of BetMakers at a price of $0.24 per share, which translates to an enterprise value of around $267 million and an equity value of approximately $283 million on a fully diluted basis.
Tabcorp will primarily use its cash reserves and undrawn debt facilities to finance the deal. Notably, the offer price reflects a premium over BetMakers’ recent market trading. For the 12 months ending June 30, 2026, BetMakers reported an unaudited EBITDA of $14 million.
Tabcorp's executives view this acquisition as a pivotal step in modernizing their technology platform. CEO Gillon McLachlan emphasized the transformative potential of the deal. He stated, "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."
BetMakers CEO Jake Henson expressed shared goals, saying, "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. 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."
Financially, Tabcorp anticipates realizing cost synergies up to $30 million by the end of the second year of ownership. These savings are expected from consolidating data centers, corporate applications, technology contracts, and replacing legacy systems with BetMakers’ products, alongside achieving efficiencies in corporate and support functions. The transaction is also projected to positively impact earnings per share (EPS), becoming accretive from the second year post-completion and reaching double-digit EPS growth by the third year.
BetMakers shareholders will have the option to receive up to 25% of their payment in new Tabcorp shares.
However, the acquisition is subject to various customary conditions, including approval from BetMakers’ shareholders, judicial clearance, and confirmation from the Australian Competition and Consumer Commission (ACCC). Regulatory consent from gaming and racing authorities in regions where BetMakers operates will also be necessary.
The completion of the transaction is targeted for the third quarter of Tabcorp’s financial year 2027, contingent on fulfilling all regulatory and shareholder requirements. A scheme booklet and independent expert’s report are expected to be distributed to BetMakers’ shareholders in late 2026.
This isn’t the first time Tabcorp has pursued BetMakers; discussions initially began in December 2025, spurred by a favorable performance in Tabcorp’s financial results for that year. However, talks stalled without formal agreement in February 2026. Earlier this year, Tabcorp faced penalties exceeding $2.7 million from the Australian Communications and Media Authority (ACMA) for breaches of telemarketing and spam regulations over a 16-month period. In 2025, BetMakers had also announced plans to acquire Las Vegas Dissemination Company (LVDC), which is expected to generate about $4.5 million in its first year after the acquisition.
