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BetMakers Adjusted EBITDA Rises 205% as Tabcorp Deal Advances

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Altay
Altay Celikkaya
Content Manager
Updated:
Reading Time: 3 minutes

BetMakers Technology Group recorded a substantial improvement in profitability during the financial year ended 30 June 2026, as digital growth, cost reductions and stronger margins supported its operating turnaround. Revenue increased 8.8% year on year to A$92.6 million, while adjusted EBITDA rose 205.1% from A$4.6 million to A$14.1 million.

The Australian racing and wagering technology supplier also reduced its statutory net loss after tax from A$25.3 million to A$5.2 million. The results give BetMakers a stronger financial position as it progresses a proposed acquisition by Tabcorp, subject to shareholder, court and regulatory approvals.

BetMakers logo beside a 205 percent growth figure and upward arrow in Ace Alliance colours

Industry News

Key Takeaways: BetMakers Converts Growth Into Higher Margins

  • Revenue increased 8.8% year on year to A$92.6 million.

  • Adjusted EBITDA climbed 205.1% from A$4.6 million to A$14.1 million.

  • The adjusted EBITDA margin rose from 5.5% to 15.2%.

  • Adjusted gross margin increased from 64.1% to 66.9%.

  • Operating expenses declined from A$52.5 million to A$49.4 million.

  • EBITDA before adjustments reached A$9.1 million, compared with A$1.8 million in FY2025.

  • The statutory net loss after tax narrowed by A$20.1 million to A$5.2 million.

Cost Reset Strengthens Operating Performance

According to BetMakers’ official FY2026 results, the combination of revenue growth and a lower operating cost base produced significant operating leverage. Expenses represented 53.3% of revenue in FY2026, compared with 61.7% in the previous year.

The company linked the improvement to restructuring initiatives completed during FY2025, additional cost optimisation and increased revenue from its core digital products. Adjusted gross profit reached A$62 million after accounting for an A$1.3 million inventory write-off adjustment. On an unadjusted basis, gross profit was A$60.7 million and the gross margin stood at 65.5%.

CEO Jake Henson said the performance validated the company’s technology-led operating model.

Betting Services Offset Weaker Tote Revenue

Global Betting Services delivered the strongest divisional growth, with revenue increasing 25.5% from A$34.5 million to A$43.3 million. BetMakers attributed the rise to its expanding digital customer base, particularly in Australia, and further international content-distribution opportunities.

Global Tote remained the company’s largest segment, generating A$49.3 million. However, this represented a 2.3% decline from the A$50.6 million recorded in FY2025.

BetMakers is using its Apollo platform and developing GTX tote product to process higher transaction volumes while lowering the cost per bet. The strategy reflects a wider supplier focus on scalable systems and higher-margin proprietary products. Bragg’s expansion into horse racing technology provides another example of acquisitions and platform integration being used to broaden capabilities and geographic reach.

Broader investor sentiment towards listed gaming businesses remained cautious during the final week of August. Ace Alliance’s weekly iGaming stock snapshot for 24–28 August showed that 10 of the 13 tracked companies finished lower, including Bragg Gaming, whose shares declined 3.31%. This market weakness adds context to the scrutiny facing suppliers as they seek to convert technology investment and cost reductions into sustainable earnings.

Tabcorp Deal Adds a New Strategic Dimension

BetMakers and Tabcorp entered into a Scheme Implementation Deed in August 2026. The proposed transaction is intended to combine BetMakers’ racing and wagering technology with Tabcorp’s Australian scale, media assets and established operator network.

The acquisition follows Tabcorp’s FY2026 results, which showed group EBITDA increasing faster than revenue as the operator focused on margin expansion and cost discipline. Tabcorp expects BetMakers’ technology to help modernise its wagering platform, accelerate product releases and expand its international business-to-business activities.

Completion is targeted for the third quarter of FY2027, provided the required approvals and other transaction conditions are satisfied. Until then, BetMakers will continue operating as an independent company and pursuing its existing commercial programme.

Australian Regulation Remains Part of the Outlook

The transaction is progressing while Australia’s proposed gambling advertising reforms create further considerations for wagering operators, affiliates and technology providers. The proposed framework includes tighter advertising and inducement controls alongside an industry-funded cost-recovery levy for licensed interactive wagering businesses.

BetMakers’ domestic customer relationships and technology deployments place it within this changing operating environment, although its international customer base provides geographic diversification. The company said its FY2027 priorities during the coming year include further digital revenue growth, additional international deployments and continued improvement in its adjusted EBITDA margin.