Tabcorp Holdings entered into a binding scheme implementation deed on 10 August to acquire BetMakers Technology Group for A$0.24 a share, implying an enterprise value of about A$267m.
Why Tabcorp Holdings Limited is buying BetMakers Technology Group
Tabcorp said BetMakers' rebuilt wagering technology would accelerate the modernisation of its own platform, add a global business-to-business growth engine and lift operating efficiency. It targets A$30m of annual pre-tax cost synergies by the end of the second year and expects the deal to be earnings-accretive from year two.
“The acquisition of BetMakers will accelerate our strategy across multiple areas.”
Deal terms and financing
The cash price implies an equity value of about A$283m on a fully diluted basis and a premium of about 41%, 42% and 37% to BetMakers' one-, three- and six-month VWAPs. Shareholders may elect Tabcorp shares, priced at no less than A$1.00, for up to 25% of the total consideration. Break fees of A$2.83m apply to either side in certain circumstances.
Regulatory approvals and timing
The scheme requires BetMakers shareholder and court approval, ACCC clearance under Australia's mandatory merger regime and consents from gaming and racing regulators, with implementation targeted for the third quarter of Tabcorp's 2027 financial year.
Market context
BetMakers reported unaudited EBITDA of A$14.0m for the year to 30 June 2026. It is the first significant acquisition under chief executive Gillon McLachlan, who joined Tabcorp in 2024.
