Tabcorp Agrees $267m Deal To Acquire Wagering Tech Firm BetMakers
Tabcorp Holdings has entered a binding agreement to acquire wagering technology firm BetMakers Technology Group for about AU$267 million, roughly eight months after an earlier approach between the two Australian companies stalled.
The deal was disclosed on August 10 in a filing to the Australian Securities Exchange.
The Terms Of The Deal
Under a Scheme Implementation Deed, Tabcorp has offered $0.24 for each BetMakers share. The company said that price implies an enterprise value of about AU$267 million and an equity value of roughly AU$283 million on a fully diluted basis.
The purchase would move BetMakers into the same group as Tabcorp's wagering, media and betting sites operations.
BetMakers holders can elect to take up to 25% of their consideration in new Tabcorp shares. The purchase will be funded mainly from Tabcorp's cash reserves and undrawn debt facilities.
BetMakers reported unaudited earnings before interest, tax, depreciation and amortisation of AU$14 million for the 12 months to June 30.
What Tabcorp Expects To Gain
Tabcorp is targeting a run rate of AU$30 million in cost synergies by the end of its second year of ownership, from consolidating data centres, corporate applications and technology contracts and from replacing legacy platforms with BetMakers' products.
It expects the deal to be earnings per share accretive from the second year and double digit accretive by the third.
Tabcorp managing director and chief executive Gillon McLachlan said: "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 chief executive Jake Henson said: "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."
Conditions And Timing
The deal remains subject to approval from BetMakers shareholders and the courts, clearance from the Australian Competition and Consumer Commission under the country's merger control regime, and consents from gaming and racing regulators in the markets where BetMakers operates.
The companies are targeting completion in the third quarter of Tabcorp's 2027 financial year. A scheme booklet and an independent expert's report are due to BetMakers shareholders in late 2026, according to the ASX filing.
Tabcorp first approached BetMakers in December 2025, but those talks did not move past informal discussions and were confirmed as over in February 2026.
