Tabcorp Holdings (ASX:TAH): A 12-Month Look at Nearly 20% Fall

Sonal Goyal

22 October 2026 10:29 PM AEDT

Tabcorp Holdings (ASX:TAH): A 12-Month Look at Nearly 20% Fall

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Key highlights

Tabcorp Holdings Ltd (ASX:TAH) shares were priced at $0.865 as at 22 October 2026, up 0.58% on the day and down approximately 20.28% over the past year.
Tabcorp reported FY26 group revenue of $2,636.3 million, up 0.8%, and EBITDA of $431.7 million, up 10.3%, in its 26 August 2026 release.
NPAT before significant items was $71.1 million, up 43.6%, and the full-year dividend was 3.0 cents, unfranked.

As at 22 October 2026, Tabcorp Holdings Ltd (ASX:TAH) shares were priced at $0.865, up 0.58% on the day, and the share performance data shows the stock down approximately 20.28% over the past year. Tabcorp is an Australian wagering and media company operating TAB. Tabcorp reported FY26 group revenue of $2,636.3 million, up 0.8%, and EBITDA of $431.7 million, up 10.3%, in its 26 August 2026 release.

About Tabcorp Holdings Ltd: business overview

Tabcorp Holdings Limited operates the TAB wagering business, retail and digital wagering, and Sky Racing media, along with Integrity Services supporting wagering integrity.

FY26 results

In an ASX announcement dated 26 August 2026, Tabcorp reported group revenue of $2,636.3 million, up 0.8%, and EBITDA before significant items of $431.7 million, up 10.3%, with the margin up 140 basis points to 16.4%. EBIT before significant items was $218.7 million, up 15.9%, and NPAT before significant items was $71.1 million, up 43.6%. Statutory NPAT was $46.3 million, up 26.5%. Underlying costs fell 0.8%.

Operations and strategy

Domestic wagering turnover rose 0.9%, with Sport turnover up 8.3% and Digital-In-Venue turnover up 9.1%. Wagering & Media EBITDA was $361.8 million, up 9.9%, and Integrity Services EBITDA was $69.9 million, up 12.0%. Tabcorp delivered a new retail commercial model and began rolling out new betting terminals and the TAB LIVE in-play product. After year end it announced an industry agreement on a National Tote and a proposed acquisition of wagering technology provider BetMakers, subject to conditions.

Balance sheet and dividend

Net debt was $533 million and financial leverage fell to 1.2 times. The final dividend was 1.5 cents, unfranked, with a full-year dividend of 3.0 cents, up 50%.

Related sector context

Gaming, lottery and wagering businesses are influenced by regulation, taxes and licence terms, customer activity and, for lotteries, jackpot outcomes. Companies report turnover, revenue, EBITDA and dividends, and licence extensions and regulatory decisions can have long-term effects.

Risks to weigh in

Revenue growth was small, the dividend is unfranked, and the BetMakers acquisition is subject to conditions. Wagering regulation, taxes and levies, competition and customer activity can affect results.

Catalysts on watch

Items to watch include the National Tote implementation, BetMakers completion, rollout of new terminals and the half-year result.

Final word

Tabcorp’s 26 August 2026 release recorded higher earnings and a higher dividend, alongside strategic announcements after year end. The next result will show execution.

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