Banijay Group completes sale of Bet-at-home stake
The sale was a requirement to advance the creation of Banijay Gaming through the merger of Betclic and Tipico Sportwetten.
France.- Banijay Group has finalised the sale of its entire interest in Bet-at-home AG. The move coincides with the Amsterdam-listed group’s push to advance its newly created Banijay Gaming division, formed through the merger of Betclic and Tipico Sportwetten.
The divestment of the controlling 53.9 per cent stake in Bet-at-home marks the end of an involvement that began back in 2009 under Everest Gaming, then a Banijay subsidiary. The disposal fulfills a key requirement of Banijay’s deal with CVC Capital Partners announced in October 2025 through which Banijay secure a 65 per cent majority in Tipico Group for €3bn in cash.
Through the deal, Banijay gained control of Tipico, Germany’s largest gambling brand valued at €4.6bn. Tipico will now be combined with France-facing Betclic, which worth an estimated €4.8bn, making Banijay Gaming a major European gaming operator.
Although Banijay has exited Bet-at-home, the group will continue to have a strong footprint in Germany via Tipico’s extensive retail and online operations while capitalising on Betclic’s position in France and Southern Europe.
The Banijay Gaming unit is scheduled to launch formally in the second half of 2026, subject to competition clearance in France and Germany.
Banijay’s stake in bet-at-home had been under strategic review since 2022, following the listing of FL Entertainment, the former parent company. It was seen as a non-core asset that had struggled amid tighter regulations in Germany and its withdrawal from Austria in 2021 due to legal claims as players sought to recoup losses incurred with unlicensed operators.
The company posted operating losses of €4.5m for 2024, with little improvement in revenue or EBITDA despite restructuring efforts.
Following the sale, Banijay CEO François Riahim and Betclic CFO Véronique Giraudon have stepped down from Bet-at-home’s supervisory board, ending the group’s governance role.
Banijay has confirmed that its 2026 strategy will focus on expanding Banijay Gaming across Europe. It intends to integrate Betclic and Tipico with Banijay’s media, sports and entertainment assets to create a unified gaming ecosystem covering regulated markets in Germany, France, Italy, Portugal and beyond.
