BetMakers Lifts Quarterly Earnings As Major Technology Deals Go Live

BetMakers Technology Group reported A$4.5m in adjusted EBITDA for the fourth quarter of its 2026 financial year, up 89.3% from A$2.4m in the same period last year. The result represented an adjusted EBITDA margin of 18% for the three months to 30 June.

Revenue increased 9.4% year-on-year from A$22.1m to A$24.2m, supported by technology partnerships, including agreements with Stake and BetConstruct. The Australian racing technology supplier delivered a gross margin of 68.5%.

Management continues to target annual revenue growth of 10%, a gross margin of 70% and an adjusted EBITDA margin above 25% over three to five years. Its latest performance leaves the business close to the first two objectives, although further growth is needed to reach its EBITDA target.

Chief executive Jake Henson said the company’s “market-leading technology, expanding verticals and our focus on high-margin, technology-led growth, positions us very well as we head into FY27.”

Executive chair Matt Davey said the combination of revenue growth and improving margins “is exactly what we set out to deliver this year.”

Stake integration supports expansion of horse racing technology

BetMakers did not disclose the financial contribution from each partnership, but its agreement with Stake may have provided an uplift during the quarter. The three-year deal was signed in December 2025 and includes an option for a further two years. Full integration was completed during Q4.

Stake receives access to BetMakers’ fixed-odds pricing, tote and trading capabilities. The partnership also covers global racing content, rights-holder data procurement, racing streams and the supplier’s Racelab products.

Stake launched its horse racing product in 2024, making the BetMakers deal important to the operator’s plans to develop the vertical internationally.

Wider operator partnerships strengthen BetMakers’ growth outlook

The Stake launch was supported by new or extended technology arrangements with CrownBet, ATG, BetConstruct, Evoke and UK Racing.

BetMakers also brought CrownBet and Dafabet.com.au live during the year while maintaining control over costs.

“Throughout FY26, we focused on supporting leading operators and expanding our product suite, while maintaining tight control of our cost base, and Q4 reflects that approach. We deepened our partnerships globally and brought key customers: Stake, CrownBet and Dafabet.com.au to market,” Henson added.

The company enters FY27 with profitability and operator partnerships supporting its technology strategy for its next growth phase.

Expert Opinion

MGM’s results reveal stronger profits despite uneven performance across its portfolio. It aims to partly offset the regional decline and China’s results. The takeover review comes at a crucial time for MGM because any buyer would inherit a valuable global portfolio despite necessary improvements across digital and regional operations.