BetMakers Reports Over 200 Percent EBITDA Growth in FY26 Amid Pending $267m Tabcorp Takeover
TL;DR — BetMakers experienced an 8.8% year-on-year revenue jump for FY26 as the company brought in AU$92.6m. Adjusted EBITDA soared by over 200% YoY from $4.6m to $14.1m and it cut its net loss after tax from $25.3m to $5.2m. The firm navigates a proposed takeover deal from Tabcorp but Tabcorp’s $267m takeover of BetMakers is not expected to be completed until towards the end of the next financial year.
SCCG Take — EBITDA margin gains and platform expansions strengthen BetMakers’ position as an acquisition target. Post-deal integration will determine how global pool connectivity and digital scale translate to operator efficiency in horse racing markets.
BetMakers reported revenue of AU$92.6m for FY26, an 8.8 percent year-on-year increase. Adjusted EBITDA soared by over 200% YoY from $4.6m to $14.1m, marking a $46m improvement over the last three years, while the net loss after tax narrowed to $5.2m from $25.3m. The results come as the company navigates a proposed takeover deal from Tabcorp. Tabcorp’s $267m takeover of BetMakers was well publicised last month, but is not expected to be completed until towards the end of the next financial year.
Segment Performance and Operational Drivers
The global tote segment generated $49.3m, a 2.3 percent decline from $50.6m. Global betting services revenue climbed 25.5 percent to $43.3m from $34.5m, supported by an expanding digital customer base and traction in Australia. Adjusted gross margin rose to 66.9 percent from 64.1 percent.
BetMakers attributed the outcome to disciplined cost management and technology-led growth. The firm incurred costs from the Tabcorp scheme of arrangement and its completed acquisition of the Las Vegas Dissemination Company. Costs from its earlier Sportech acquisition have now been fully amortised.
BetMakers Chairman Matt Davey said: “Over the last 12 months, the company has continued to deliver against the operating turnaround that we set in place several years ago. This is most dramatically shown through the positive EBITDA, up over 200% to $14.1m over the last 12 months. In addition to that, revenue has grown at double digits on a constant currency basis. We are proud of that.”
Davey added that the racing industry faces contraction in some areas and growth in others, with the company delivering solid top-line growth. CEO Jake Henson stated the goal is to serve as the central scale platform connecting horse racing betting globally, citing low cost per bet through GTX and Apollo platforms, margin realisation via global trading and pool connectivity, and full coverage of fixed-odds, tote, and data in a single partnership.
International Expansion and FY27 Foundation
Content distribution advanced with key customers including the UK Tote Group, Racecourse Media Group, William Hill, and Norway’s Rikstoto. Stake entered an agreement for BetMakers’ full fixed-odds pricing, tote, and trading capability. ATG onboarded its Swedish and Danish horse racing offer onto the fixed-odds product. Domestic partnerships with Sportsbet, Ladbrokes, and TABtouch aided home market growth.
The company affirmed it has established a solid foundation heading into FY27 as it looks to further increase digital revenues and improve its EBITDA margin. The Tabcorp transaction leaves the immediate operational focus on platform scale in a sector with mixed industry conditions.
Reporting: SBC News
Generated by SCCG’s automated editorial system from published source reporting. SCCG Management holds editorial responsibility.
Operational discipline turned the corner; now the real test is whether Tabcorp integration unlocks global racing liquidity or buries it.
We have watched BetMakers pivot from bleeding cash to margin discipline — over 200 percent EBITDA growth is not window dressing. The Tabcorp deal reshapes racing infrastructure globally, and how they integrate GTX, Apollo, and global pool connectivity will dictate efficiency for every operator touching horse racing. Integration execution matters more than the headline price.
- Revenue up 8.8% to AU$92.6m; adjusted EBITDA surged 200%+ YoY to $14.1m
- Global betting services +25.5% to $43.3m; gross margin improved to 66.9%
- Tabcorp's $267m takeover expected to close late FY27; integration will test global racing platform strategy
SCCG angle: SCCG works with operators expanding into racing and evaluating tote, fixed-odds, and data partnerships globally. As this deal reshapes the supply side, we help clients stress-test platform dependencies, negotiate integration terms, and connect to alternative liquidity if Tabcorp consolidation changes the pricing or access landscape. We know the players on both sides.
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