Australian operator Tabcorp has agreed to acquire wagering technology provider BetMakers for $200 million. The deal values BetMakers at AU$283 million on a fully diluted basis and AU$267 million by enterprise value.
Tabcorp will offer AU$0.24 per BetMakers share. Shareholders may elect to receive up to 25% of the consideration in Tabcorp stock. BetMakers' board has unanimously recommended the offer, subject to no superior proposal and a positive independent expert report.
Tabcorp expects to accelerate the upgrade of its wagering platform and strengthen its international B2B business. The company forecasts AU$30 million in annual cost savings by the end of the second year of ownership. Completion is scheduled for Tabcorp's third quarter of financial 2027, pending shareholder approval, court clearance, ACCC review and gaming regulator consent.
This marks the third attempt at a tie-up between the two firms. Informal talks collapsed in February without reaching an offer stage. In 2021, BetMakers proposed to buy Tabcorp's wagering and media division for AU$4 billion but withdrew the bid after Tabcorp spun off its lottery business.
