Tabcorp (ASX:TAH) FY26 Earnings Jumps and BetMakers Acquisition Plan in Focus

Sonal Goyal

07 September 2026 10:41 AM AEST

Tabcorp (ASX:TAH) FY26 Earnings Jumps and BetMakers Acquisition Plan in Focus

Image Source: Shutterstock

You are reading a free article with opinions that may differ from the recommendation given by Kalkine in its paid research reports. Become a Kalkine member today to get access to our research reports, in-depth technical and fundamental research. Learn more

Start Your Free Trial Now!

Key Highlights

Group EBITDA rose 10.3 per cent to $431.7 million in FY26, on Revenue up 0.8 per cent to $2,636.3 million
Net profit after tax before significant items climbed 43.6 per cent to $71.1 million
Full-year Dividend increased 50 per cent to 3.0 cents per share, though it remains unfranked
Tabcorp confirmed a proposed Acquisition of wagering technology provider BetMakers, targeting completion in Q3 FY27

Tabcorp (ASX:TAH) reported group revenue of $2,636.3 million for the financial year ended 30 June 2026, up 0.8 per cent on FY25, while group EBITDA rose 10.3 per cent to $431.7 million. The company said cost discipline delivered a 0.8 per cent reduction in underlying costs, contributing to a 140 basis point improvement in EBITDA Margin to 16.4 per cent. Net profit after tax before significant items increased 43.6 per cent to $71.1 million.

Segment Performance

Domestic wagering turnover increased 0.9 per cent for the year, with Sport turnover up 8.3 per cent and Digital-In-Venue turnover up 9.1 per cent. The Wagering & Media division reported revenue growth of 0.7 per cent and EBITDA of $361.8 million, up 9.9 per cent on FY25. Integrity Services revenue rose 3.3 per cent, with EBITDA of $69.9 million, an increase of 12.0 per cent.

Balance Sheet and Dividend

Net Debt stood at $533 million as at 30 June 2026, with financial Leverage reduced to 1.2 times following increased funding diversity and extended debt tenor. The company priced $300 million of 5.5-year notes in November 2025 and extended its A$980 million syndicated term Loan Facility in June 2026, pushing the weighted average Maturity of drawn debt facilities to 4.9 years and lifting Liquidity to $1,161 million.

Tabcorp declared a final dividend of 1.5 cents per share, unfranked, bringing the full-year dividend to 3.0 cents per share, up 50 per cent on FY25 and representing a Payout Ratio of 58 per cent of adjusted earnings per share.

BetMakers Acquisition

Subsequent to year end, Tabcorp announced on 10 August 2026 that it had agreed to acquire 100 per cent of BetMakers Technology Group by way of a scheme of arrangement. The company said the deal is intended to modernise its wagering technology stack and expand its international business-to-business operations, targeting run-rate cost synergies of $30 million by the end of the second year of ownership. Tabcorp said the transaction is expected to be Earnings Per Share accretive from year two, with completion targeted for the third quarter of FY27.

Outlook for FY27

Tabcorp said it expects domestic wagering turnover growth in FY27 to be broadly consistent with FY26, excluding the FIFA World Cup, and that Capital Expenditure is expected to reach up to $160 million. The company said Depreciation and Amortisation is expected to fall between $225 million and $235 million, with Operating Expense growth expected to track general Inflation of 3.0 to 3.5 per cent.

Conclusion

Tabcorp's FY26 result reflects earnings growth driven by cost discipline and gains across its wagering and integrity services divisions, arriving alongside the announcement of a proposed acquisition of BetMakers that the company says will expand its technology capabilities and international reach. With the deal targeted for completion in the third quarter of FY27 and dividend payouts increased for the year, the coming year's turnover trends and integration progress are set to shape the company's next results.

FAQs

Q: How much did Tabcorp's EBITDA grow in FY26?

A: Tabcorp (ASX:TAH) reported group EBITDA of $431.7 million for FY26, up 10.3 per cent on FY25.

Q: What dividend did Tabcorp declare for FY26?

A: Tabcorp declared a final dividend of 1.5 cents per share, unfranked, bringing the full-year dividend to 3.0 cents per share, up 50 per cent on FY25.

Q: What is Tabcorp's net debt position?

A: Net debt was $533 million as at 30 June 2026, with financial leverage reduced to 1.2 times.

Q: Is Tabcorp acquiring BetMakers?

A: Yes. Tabcorp announced on 10 August 2026 that it agreed to acquire 100 per cent of BetMakers Technology Group by way of a scheme of arrangement, with completion targeted for the third quarter of FY27.

Q: What growth did Tabcorp's Wagering & Media segment report?

A: The Wagering & Media division reported revenue growth of 0.7 per cent and EBITDA of $361.8 million, up 9.9 per cent on FY25.

Download Free Report – Explore 3 Stock Ideas & Industry Insights

Unlock 3 stock ideas and key industry insights in our free report. This information is general in nature and does not consider your personal objectives, financial situation, or needs. It is not financial advice.

All investments involve risk—consider independent advice before making any investment decisions.

View 3 Research Reports

Disclaimer:

This article (“Article”) has been prepared by Kalkine Pty Limited (ABN 34 154 808 312) (Australian financial services licence number 425376) (“Kalkine”) and its related bodies corporate who are authorised to provide general financial product advice. Kalkine.com.au and its associated pages are published by Kalkine.

Any information/advice provided in this article is general in nature and does not take into account your objectives, financial situation or needs. You should therefore consider whether the information is appropriate for your objectives, financial situation and needs before acting upon it.

There may be a Product Disclosure Statement, Information Memorandum or other offer document (“Offer Document”) for the securities or other financial products referred to in Kalkine articles. You should obtain a copy of the Offer Document and consider it before making any decision about whether to acquire the security or financial product.

Kalkine strongly recommends that you seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice) before acting on any advice/information in this Article or on the Kalkine website. Not all investments are appropriate for all people.

The information in this Article and on Kalkine website has been prepared from a wide variety of sources, which Kalkine, to the best of its knowledge and belief, considers accurate. Kalkine has made every effort to ensure the reliability of the information contained in its articles (including this Article), newsletters and websites. All information represents our views at the date of publication and may change without notice.

The information in this Article does not constitute an offer to sell securities or other financial products or a solicitation of an offer to buy securities or other financial products.

Kalkine does not issue, sell or deal in any financial products.

This Article may contain information on past performance of particular investments. Please note past performance is neither an indicator nor a guarantee of future performance.

To the extent permitted by law, and excluding any dishonesty or gross negligence by Kalkine, Kalkine disclaims and excludes all liability for any direct, indirect, implied, punitive, special, incidental or other consequential loss or damage arising from the use of or reliance on this Article, the Kalkine website and any information published on the Kalkine website without any warranties or representations by Kalkine to you. To the extent the law prohibits or limits this exclusion, Kalkine limits its liability to the resupply of services.

Please also read our Terms & Conditions and Financial Services Guide for further information.

Employees and/or associates of Kalkine and its related entities may hold interests in the securities or other financial products covered in this Article or on the Kalkine website. Any such employees and associates are required to comply with certain safeguards, procedures and disclosures as required by law.

Some of the images/music that may be used in the Article are copyright to their respective owner(s). Kalkine does not claim ownership of any of the pictures displayed/music used in the Article unless stated otherwise. The images/music that may be used in the Article are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated or was found to be necessary.

Kalkine Media Pty Ltd, an affiliate of Kalkine Pty Ltd, may have received, or be entitled to receive, financial consideration in connection with providing information about certain entity(s) covered on its website.