Australia's BetMakers hits 6-month high on Tabcorp's $189 million buyout offer

Tabcorp Holdings

10/08/2026 02:23

Aug 10 (Reuters) - Australian wagering technology firm BetMakers Technology BET.AX said on Monday it had signed a binding agreement with wagering and gaming firm Tabcorp, TAH.AX agreeing to a takeover offer that values BetMakers at around A$267 million($188.66 million). 
Here are more details:
Tabcorp will pay A$0.24 per BetMakers share, the companies said, representing a 45.5% premium to BetMakers' closing share price on Friday.
Shares of BetMakers surged as much as 42.4% to A$0.235 at the open, hitting their highest since February 11, while Tabcorp shares were up 2%.
"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," BetMakers CEO Jake Henson said.
BetMakers said its board unanimously recommends that shareholders vote in favour of the deal.
Tabcorp said the deal would support the modernisation of its wagering technology platform, help expand its international business and improve operational efficiency.
Tabcorp expects the acquisition to be earnings per share (EPS) accretive from the second year of ownership, with double-digit EPS accretion from the third year.
BetMakers shareholders may elect to receive part of their consideration in Tabcorp shares, subject to a cap of 25% of the total transaction consideration, Tabcorp's statement said.
The parties are targeting implementation of the transaction during the third quarter of fiscal 2027, Tabcorp added.
     
     
($1 = 1.4152 Australian dollars)

(Reporting by Shruti Agarwal in Bengaluru; Editing by Rashmi Aich)
((Shruti.Agarwal@thomsonreuters.com;))