BetMakers Reports 176.1% EBITDA Growth As Tabcorp Acquisition Progresses

BetMakers opened FY27 with EBITDA of AU$5.9 million (£3.1 million), up 176.1% year on year, while revenue increased 16.3% to $24.7 million.

Results for the quarter ending 30 September reflected digital growth, stronger margins and cost controls as the Australian betting technology supplier prepares for its proposed acquisition by Tabcorp.

Apollo Activity And Improved Margins Support Quarterly Cash Generation

Apollo and Global Tote performed strongly, with Apollo recording activity highs that continued after quarter-end during the Caulfield Cup and The Everest Day.

Gross margin increased from 63.9% to 69.1%, approaching the long-term minimum target of 70%. Operating cash flow reached $2.8 million, against $1.2 million a year earlier.

Henson Highlights Commercial Adoption And Operational Discipline Behind Growth

Chief executive Jake Henson said: “Reaching $24.7m in quarterly revenue while generating $2.8m in operating cash flow and $5.9m in Adjusted EBITDA reflects the strong commercial adoption across our product suite and continued operational discipline from our global team.

“We have built an agile, technology-driven business model that yields operating leverage as we scale and continue to observe a strong pipeline of new opportunities to support that scale.”

Tabcorp Deal Remains Subject To Approvals Ahead Of Planned Implementation

Tabcorp agreed in August to acquire all BetMakers shares at 0.24 each, valuing the transactions at AU283 million (£148 million), with enterprise value of AU$267 million (£140 million).

Shares rose significantly over six months and remained around $0.24, reflecting the agreed acquisition price announced in August. Implementation remains planned for Q3 FY27, subject to competition clearance, court approvals, gambling consents and a favourable independent expert assessment.

BetMakers previously reported 205% FY26 EBITDA growth and signed a French racing agreement with Pari-Mutuel Urbain.

Margin improvement and cash generation support the quality of BetMakers’ growth. Sustaining that performance through acquisition approvals will matter, particularly whether elevated platform activity produces recurring revenue rather than isolated racing-event gains.