BETMAKERS TECHNOLOGY GROUP LIMITED (BET)
Share Price Analysis and Chart

01/09/2026

3

Hold

$0.24

14.29%

Betmakers Technology delivered a FY26 result that was in line with expectations. Ord Minnett notes the reinvigorated offering is driving a return to growth of around 8.8%, with management's ability to deliver reduced costs considered "exceptional" and yielding incremental EBITDA margins of 127%.

The appeal of the business appears to have resonated, the broker points out, with Tabcorp ((TAH)) entering a binding scheme to acquire it at $0.24/share. The likelihood of the transaction being completed is considered high and a Hold rating and $0.24 target are unchanged.

FORECAST
Ord Minnett forecasts a full year FY27 dividend of 0.00 cents and EPS of 0.10 cents.
Ord Minnett forecasts a full year FY28 dividend of 0.00 cents and EPS of 0.40 cents.

02/09/2026

3

Hold

$0.24

14.29%

Canaccord Genuity maintains a Hold rating for Betmakers Technology with a $0.24 target price following an FY26 result highlighting adjusted EBITDA of $14.1m alongside an apparent free cash flow inflection.

Full-year revenue grew 9% to $92.6m, driven by core digital offerings lowering costs and expanding the adjusted EBITDA margin to 15.2%.

The analyst notes the business has entered a Scheme of Arrangement with Tabcorp Holdings ((TAH)), offering shareholders $0.24 per share in cash and valuing the entity at roughly $283m.

Canaccord Genuity considers the proposed transaction a fair representation of near-term value, expecting target completion in the third quarter of FY27 given the anticipated $30m in synergies Tabcorp can extract.

Canaccord's estimates for FY27 incorporate a -1% reduction to revenue forecasts while EBITDA projections remain unchanged.