BetMakers Raises First-Quarter EBITDA by 176%

Australian betting technology company BetMakers is seeing a sharp rise in transaction volume as it prepares to be acquired by Tabcorp, the country's oldest and largest B2C company. The company closed the first quarter of fiscal year FY27 with strong results.

EBITDA came in at A$5.9 million (GBP 3.1 million). This represents a 176.1% increase year on year. Revenue rose 16.3% to A$24.7 million.

Strong growth in digital revenue, an improved gross margin and tight cost control supported the results. The gross margin rose from 63.9% to 69.1%, coming very close to the company's long-term target of 70%. Operating cash flow was A$2.8 million, compared with A$1.2 million in the same period last year.

Record activity was recorded on the Apollo and Global Tote platforms. The activity generated by the Caulfield Cup and Everest Day races continued after the quarter ended.

The share price has risen noticeably over the past six months. Under the agreement signed with Tabcorp in August, the acquisition is expected at 0.24 per share. The transaction value is A$283 million (GBP 148 million). The deal is subject to competition authority approval, court approval, regulatory permits and an independent expert assessment.

The company also announced its FY26 results in early September. In those results, EBITDA rose 205% year on year. Through an agreement with Pari-Mutuel Urbain, a French state-controlled industry giant, BetMakers also strengthened its presence in the European horse racing market.