BetMakers Q1 FY27 EBITDA jumps 176% to AU$5.9M as Tabcorp acquisition awaits approvals
BetMakers posted Q1 FY27 revenue of AU$24.7M, up 16.3%, with adjusted EBITDA of AU$5.9M. The betting technology firm is awaiting regulatory and court clearances for its AU$283M takeover by Tabcorp.
GamblingSource: SBC News
Australian betting technology supplier BetMakers has opened its 2027 financial year with a sharp rise in profitability, reporting adjusted EBITDA of AU$5.9M for the first quarter. That figure is 176.1% higher than a year earlier. Revenue for the period rose 16.3% to AU$24.7M.
The company credited strong growth on the digital side, together with better gross margins and tight control of costs. Its Apollo and Global Tote platforms both performed well in the three months to 30 September. Apollo in particular recorded record activity, which carried into the period after the quarter closed, covering the Caulfield Cup and The Everest Day horse racing events.
Gross margin climbed to 69.1% from 63.9%, close to the firm's long-term minimum target of 70%. Operating cash flow came to AU$2.8M, compared with AU$1.2M in the first quarter of FY26.
Chief Executive Jake Henson said that reaching AU$24.7M in quarterly revenue while producing AU$2.8M in operating cash flow and AU$5.9M in adjusted EBITDA reflected strong commercial uptake across the product range and continued operational discipline. He added that the business model offers operating leverage as it grows and that the company continues to see a strong pipeline of new opportunities.
The results come as BetMakers prepares to be acquired by Tabcorp, which agreed in August to buy 100% of the issued shares at $0.24 each. The deal carries a transaction value of AU$283M and an enterprise value of AU$267M. BetMakers' share price has risen significantly over the past six months and has remained fairly stable around the offer price.
The transaction still requires competition clearance, court approvals, gambling regulatory consents and a conclusion from an Independent Expert that the deal is in the best interests of BetMakers shareholders. All of these steps are planned to be completed in the third quarter of FY27.
Earlier in September, the company reported a 205% year-on-year increase in EBITDA for the full FY26 year. It has also strengthened its position in European horse racing through an agreement with French state-owned operator Pari-Mutuel Urbain.
Based on reporting by SBC News.