How Did Tabcorp (ASX:TAH) Report Higher FY26 Earnings and Its Proposed BetMakers Acquisition?

Sonal Goyal

21 October 2026 09:51 PM AEDT

How Did Tabcorp (ASX:TAH) Report Higher FY26 Earnings and Its Proposed BetMakers Acquisition?

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Key highlights

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.
After year end, Tabcorp announced an industry agreement on a National Tote and a proposed Acquisition of BetMakers.

Tabcorp Holdings Ltd (ASX:TAH) shares closed at $0.86, up 1.78%, on 21 October 2026. The S&P/ASX 200 Consumer Discretionary [XDJ] index closed at 3,741.90, up 0.34% (12.50 points), while the S&P/ASX 200 [XJO] finished at 8,831.30, up 0.16%, and the All Ordinaries at 8,956.60, up 0.14%, as at 5:00 pm GMT+11. Tabcorp is an Australian wagering and media company operating TAB.

What Tabcorp does

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%.

Sector context

Consumer discretionary companies depend on household spending, travel, leisure and housing activity, and they are tracked through the S&P/ASX 200 Consumer Discretionary index, which closed at 3,741.90, up 0.34%, on 21 October 2026 alongside a 0.16% rise in the S&P/ASX 200 to 8,831.30. Wagering revenue depends on turnover, product fees, regulation and competition from online operators.

Risks and uncertainties

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 to 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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