Tabcorp has agreed to acquire wagering technology supplier BetMakers Technology Group in a deal with an enterprise value of approximately AU$267m. The acquisition forms part of the Australian wagering operator's strategy to accelerate its digital transformation and strengthen its international business.
Under a binding Scheme Implementation Deed, Tabcorp will acquire all BetMakers shares for AU$0.24 per share, representing an equity value of around AU$283m on a fully diluted basis. BetMakers shareholders will also have the option to receive part of their consideration in Tabcorp shares, subject to a cap of 25% of the total transaction value.
The acquisition forms part of Tabcorp's broader strategy to modernise its wagering technology platform while expanding its business-to-business offering. BetMakers has spent the past two years overhauling its technology portfolio, with its Apollo betting platform and GTX tote platform now serving wagering operators across Australia, Europe, Asia and the Americas.
Tabcorp said integrating those capabilities with its own media, wagering rights and customer relationships would create a broader suite of products for operators while improving operational efficiency. The company is targeting annualised cost synergies of AU$30m by the end of the second year following completion, alongside additional revenue opportunities through its existing tote and media operations.
Tabcorp MD & CEO 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, particularly for our unique media and tote offering. Combining BetMakers’ business with our rights, content and customer relationships creates a differentiated offering that will unlock growth and deliver attractive financial returns.
Tabcorp is midway through its strategic transformation, with strong foundations established, and this acquisition provides us with an excellent opportunity to accelerate our ambitions.”
BetMakers CEO Jake Henson said: “Having spent time with the Tabcorp team, it is clear we share a common purpose: to build a market-leading global wagering and media business.
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, and an exciting future for our people."
The transaction is also expected to enhance earnings, with Tabcorp forecasting earnings per share accretion from the second year of ownership and double-digit accretion from the third year. The acquisition will be funded through existing cash resources and available debt facilities, with the company stating its pro forma leverage would remain comfortably below its long-term target.
Completion remains subject to several conditions, including approval from BetMakers shareholders and the courts, clearance from the Australian Competition and Consumer Commission, gaming and racing regulatory approvals across relevant jurisdictions and other customary conditions.
The transaction remains subject to shareholder, court and regulatory approvals, with completion targeted during the third quarter of Tabcorp's 2027 financial year
