Tabcorp Holdings has signed a binding agreement to acquire BetMakers Technology Group for AU$267 million ($188.6 million). The deal was announced through the ASX several months after initial talks stalled.
Tabcorp is offering $0.24 per BetMakers share, funded from existing cash and credit lines. BetMakers shareholders can elect to receive up to 25% of the consideration in new Tabcorp shares.
Tabcorp CEO Gillon McLachlan said the acquisition will accelerate the modernisation of the company's technology platform. BetMakers has rebuilt its betting technology over the past two years, and Tabcorp will gain access to that work. BetMakers chief Jake Henson pointed to a shared goal of building a global betting and media business. Combining Tabcorp's rights, content and relationships with BetMakers' platforms and B2B services will create a fuller offering for clients.
Tabcorp expects synergies of up to $30 million by the end of year two. Savings will come from consolidating data centres, corporate applications and technology contracts, replacing legacy platforms with BetMakers products, and streamlining support. The deal is expected to be EPS-accretive from year two, reaching double-digit EPS growth by year three.
The transaction requires approval from BetMakers shareholders, courts, Australia's competition regulator ACCC, and gaming authorities in jurisdictions where BetMakers operates. Completion is scheduled for Tabcorp's third quarter of financial year 2027. Shareholder documents for BetMakers will be distributed in late 2026.
First acquisition talks began in December 2025, but in February both companies confirmed discussions had not progressed beyond informal exchanges. Tabcorp at that time reported revenue growth and a return to net profit. Earlier this year, Australian regulator ACMA fined Tabcorp more than $2.7 million for breaches of telemarketing and spam rules over a sixteen-month period.
