Tabcorp Holdings Ltd (ASX:TAH) Shares Are Down Today: What Investors Need to Know

Sonal Goyal

23 October 2026 02:45 PM AEDT

Tabcorp Holdings Ltd (ASX:TAH) Shares Are Down Today: What Investors Need to Know

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Tabcorp Holdings Ltd (ASX:TAH) shares were trading 1.45% lower at $0.853 during the 23 October 2026 session.
FY26 results released on 26 August 2026 showed Revenue of $2,636.3 million and EBITDA of $431.7 million, up 10.3%.
The company declared a final Dividend of 1.5 cents per share, unfranked, and referred to its proposed Acquisition of BetMakers.

Shares in Tabcorp Holdings Ltd (ASX:TAH) were trading 1.45% lower at $0.853 during the Trading session on 23 October 2026. During the same session, the S&P/ASX 200 Consumer Discretionary index (XDJ) was up 1.77%, or 65.10 points, at 3,742.80 at 1:31 pm AEDT, the S&P/ASX 200 (XJO) was up 0.38% at 8,760.00 and the All Ordinaries was up 0.54% at 8,868.90. Tabcorp Holdings is an Australian wagering and media Business that also provides integrity services. The company released its FY26 results on 26 August 2026, and the share price movement has not been linked to that release.

Latest development: FY26 group results (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 EBITDA Margin rising 140 basis points to 16.4%. EBIT before significant items was $218.7 million, up 15.9%. NPAT before significant items was $71.1 million, up 43.6%, while statutory NPAT was $46.3 million, up 26.5%. Statutory Earnings Per Share were 2.0 cents and adjusted earnings per share were 5.2 cents.

Significant items after tax totalled $24.8 million and related to the Victorian licence, transformation costs and transaction costs. Net Debt was $533 million and financial Leverage fell to 1.2 times. The final dividend was 1.5 cents per share, unfranked, taking the full-year dividend to 3.0 cents, up 50%.

Latest development: segment performance

Wagering and Media revenue rose 0.7% to $2,454.7 million, with EBITDA up 9.9% to $361.8 million. Domestic wagering turnover increased 0.9%, including sport turnover up 8.3% and digital in-venue turnover up 9.1%. Integrity Services revenue rose 3.3% to $181.6 million, with EBITDA up 12.0% to $69.9 million. The company reported an underlying cost reduction of 0.8%.

Latest development: BetMakers, National Tote and regulatory matters

On 10 August 2026 Tabcorp announced it had agreed to acquire BetMakers Technology Group through a scheme of arrangement, subject to conditions, targeting $30 million of run-rate cost synergies and completion in the third quarter of FY27. The company also noted industry agreement on a National Tote, with its launch subject to remaining regulatory approvals, and the rollout of next-generation betting terminals and the TAB LIVE in-play product. The release stated that Tabcorp is cooperating with AUSTRAC during its ongoing investigation.

About Tabcorp and what it does

Tabcorp operates the TAB wagering brand, offering betting on racing and sport through retail venues, digital channels and in-venue digital platforms. It holds the Victorian wagering and betting licence and also provides media and integrity services, including racing media content and data and integrity services for the racing and wagering industry. The company's segments are Wagering and Media, and Integrity Services.

Risks and catalysts on watch

Items flagged in the release include the AUSTRAC investigation, conditions attached to the BetMakers transaction, the remaining regulatory approvals for the National Tote and non-deductible tax items of about $67 million related to the Victorian licence. Statutory earnings per share were 2.0 cents, and the final dividend was unfranked.

For FY27 the company expects domestic wagering turnover growth broadly consistent with FY26 excluding the FIFA World Cup, Capital Expenditure of up to $160 million and Depreciation and Amortisation of $225 million to $235 million. Items that may attract attention include the BetMakers completion, the National Tote launch and the retail terminal roll-out.

Closing perspective

Tabcorp shares were lower on 23 October 2026 while the consumer discretionary index rose. The company's most recent results, dated 26 August 2026, reported modest revenue growth, higher earnings and an increased dividend alongside an ongoing regulatory investigation. Further announcements will be released through the ASX.

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