BetMakers confirms Tabcorp takeover approach as talks cease

BetMakers Technology Group has responded to reports of a possible takeover by Tabcorp, revealing discussions over a potential deal took place but have since ceased without any further progress.

According to the Australian Financial Review, talks between the two companies began in December last year. Tabcorp sought out BetMakers to accelerate its technology transformation.

While Tabcorp did not respond to a request for comment, BetMakers on Wednesday put out a statement on the matter. It confirmed that it held talks with Tabcorp, but these did not proceed past an “informal” discussion.

“BetMakers confirms that it was approached by Tabcorp and that preliminary and informal discussions have taken place regarding a potential change of control transaction,” BetMakers said. “While those discussions were at an early stage and highlighted opportunities for BetMakers’ wagering technology products, no formal offer was received and discussions have ceased.

“BetMakers maintains an ongoing commercial relationship with Tabcorp, supplying wagering technology and content distribution services in support of Tabcorp’s racing and media operations.”

Tabcorp is yet to formally responded to both the media report and BetMakers’ statement.

Why was Tabcorp eying BetMakers?

People close to the talks told the Review that Tabcorp had several reasons for its interest in BetMakers. Among these was to utilise BetMakers’ technology to improve its own internal platform

Other points within Tabcorp’s strategic rationale included delivering significant synergies on the back of the deal, enhancing its industry capability and driving its global B2B business and international strategy.

Shortly before talks with Tabcorp commenced, BetMakers added another string to its bow with the acquisition of Las Vegas Dissemination Company (LVDC). It completed its purchase of the Nevada-based gaming solutions supplier in early 2026.

The agreement came shortly after BetMakers signed an extension to its US-facing deal with Penn Entertainment. The three-year extension came into effect in January, building on a relationship that began in 2022.

Closer to home, BetMakers also struck a deal in its native Australia to support the launch of Betfair Australia-owned brand CrownBet. BetMakers will deliver its full wagering stack for CrownBet.

Tabcorp aiming to build on FY’25 growth

Tabcorp sought out BetMakers on the back of a positive 2025 financial year. After reporting a rise in revenue and a return to net profit, new CEO and managing director Gillon McLachlan described the company as “fitter” and “improved”.

McLachlan, who took the helm at Tabcorp in August 2024, has overseen a series of operational changes at the company. These included new hires, greater cost and capital discipline, and a focus on execution and evolved strategy.

With this, revenue climbed 11.8% year-on-year to AU$2.61 billion (US$1.86 billion) in 2025, while net profit came in at $36.6 million, in contrast to the $1.36 billion loss reported in FY’24.

Regulatory concerns remain for Tabcorp

However, while Tabcorp’s financial performance was improved in FY’25, concerns remain over regulatory issues. This week, Tabcorp was ordered to pay $158,400 after illegally taking online in-play sports bets.

The Australia Communications and Media Authority (ACMA) said Tabcorp accepted 426 in-play bets across 32 tennis matches between February 2024 and June 2025, which is prohibited in Australia under the Interactive Gambling Act 2001.

Tabcorp said the breaches occurred due to systems and communication issues with its third-party provider. It voided all the in-play bets and refunded stakes to users.

However, the ACMA elected to proceed with the financial penalty, with it being the third time Tabcorp had breached in-play betting rules since 2021. Tabcorp also entered into a comprehensive enforceable undertaking, requiring it to review its systems and processes.

“The law is clear and wagering services must have processes in place to prevent illegal in-play bets from being accepted,” ACMA member Carolyn Lidgerwood said. “While we understand that most wagering operators rely on third-party providers to close betting on sporting events, they cannot outsource their legal responsibilities.”

It was not the first time it had been penalised for breaching regulations. In January 2026, Tabcorp was identified as one of several operators to have fallen foul of self-exclusion rules in Australia. ACMA out Tabcorp, as well as LightningBet, Betfocus, TempleBet, Picklebet and BetChamps, for breaching regulations.

In June last year, ACMA ordered Tabcorp to pay AU$4 million for breaking spam laws by sending over 5,700 marketing messages to customers of its VIP programme. Tabcorp was also fined $262,920 in November 2024 for breaking rules on in-play betting.

Further back, it was issued a record AU$4.6 million fine for a series of failures in the state of Victoria.