Tabcorp to Acquire BetMakers Technology Group
Key points
- Acquisition aims to modernize Tabcorp's technology stack
- Expected to be EPS accretive from Year 2
- Targeting $30 million in cost synergies by end of Year 2
- Transaction to be cash and scrip funded
- BetMakers' board unanimously recommends the deal
Full summary
Tabcorp Holdings Limited has announced its intention to acquire BetMakers Technology Group Ltd, aiming to modernize its technology stack and accelerate strategic priorities. The acquisition, expected to be EPS accretive from Year 2, targets $30 million in cost synergies by the end of Year 2. The transaction will be funded through a combination of cash and scrip, with BetMakers shareholders having the option to receive scrip. The BetMakers board unanimously recommends the deal, subject to shareholder and regulatory approvals.
Guidance
Expected to be EPS accretive from Year 2, targeting $30 million in cost synergies by end of Year 2
Outlook
The acquisition is expected to create a compelling customer proposition, enhance product innovation, and drive a high-performance culture within Tabcorp.
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