Tabcorp Holdings has signed a definitive agreement to acquire BetMakers Technology Group for A$267 million (£140 million enterprise value). The deal is designed to modernise the operator's wagering infrastructure for horseracing in Australia and support expansion into new markets.
Tabcorp offered A$0.24 per share. The BetMakers board has unanimously recommended the offer. Equity value stands at around A$283 million (£148 million). Speculation about the deal surfaced earlier this year when Australian media reported Tabcorp had approached BetMakers Executive Chairman Matt Davey.
BetMakers was founded in 2013 by entrepreneur Todd Buckingham. It develops a full-stack platform for racing markets, pricing and risk management, and operates customised tote solutions and pool systems for online and retail channels. Tabcorp intends to deploy BetMakers technology across Sky Racing and to service its twenty-year Victorian TAB betting licence.
This is the first major acquisition under new Tabcorp CEO Gillon McLachlan, former head of the Australian Football League, who took the role in August 2024. McLachlan said the purchase will accelerate the group's transformation and deliver ready-built wagering infrastructure rather than developing systems from scratch.
Tabcorp expects annual synergies of A$30 million by the end of the second year through data centre optimisation, corporate application consolidation and the replacement of legacy platforms with BetMakers solutions. BetMakers CEO Jake Henson said the shared goal is to build a global wagering and media business by combining Tabcorp's rights, content and relationships with BetMakers' platforms and B2B services.
The transaction requires approval from BetMakers shareholders, the court, competition regulator ACCC and relevant racing authorities. Completion is scheduled for the third quarter of financial year 2027. BetMakers shareholders may elect to receive up to 25% of consideration in Tabcorp shares, capped at 70.7 million new shares.
