Tabcorp to buy wagering technology provider BetMakers

Tabcorp has agreed to acquire ASX-listed wagering technology provider BetMakers Technology Group in a deal valued at approximately $267 million.

Under the binding agreement, Tabcorp will purchase 100 per cent of BetMakers’ shares for 24 cents per share.

The acquisition is expected to strengthen Tabcorp’s technology capabilities while supporting the company’s plans to expand its international wagering operations.

In announcing the transaction, Tabcorp said integrating BetMakers’ technology with its existing wagering assets would accelerate the modernisation of its technology platform and deliver greater operational efficiencies.

The company also believes the acquisition will enhance its international growth prospects and generate attractive long-term financial returns.

“Combining BetMakers’ business with our rights, content and customer relationships creates a differentiated offering that will unlock growth and deliver attractive financial returns,” Tabcorp chief executive Gillon McLachlan said.