Banijay Group to merge Betclic and Tipico, creating European sports betting giant
Banijay Group has acquired 65 per cent of Tipico and plans to increase its holding to at least 72 per cent.
France.- Banijay Group, The French media group that owns Betclic, has secured a 65 per cent stake in Tipico Group from private equity firm CVC. It plans to merge Tipico and Betclic under Banijay Gaming, which is expected to be one of the largest gambling operators in Europe, and the largest sports betting operator in continental Europe above Italy’s Lottomatica.
The agreement values Betclic at €4.8bn and Tipico at €4.6bn. Together, the two groups have over 1,250 betting shops. In a statement issued today, Banijay said it intends to increase its holding to at least 72 per cent through a series of call options.
The acquisition will be financed entirely in cash, supported by a committed funding package totaling €3bn. Existing shareholders from both companies will retain equity in the newly formed entity. Tipico’s founding team will reinvest their entire shareholding into the merged Banijay Gaming group. To facilitate the deal, key financial backers of Betclic will refinance and underwrite Tipico’s outstanding debt.
Banijay Gaming said it will focus exclusively on locally regulated markets. Betclic and Tipico’s combined brands currently operate in Germany, Austria, France, Portugal, Poland and Côte d’Ivoire. Following the acquisition, Banijay’s pro forma revenue is projected to reach €6.4bn, with adjusted EBITDA forecast at €1.4bn for 2024. Then group expects the acquisition to bring in €100m in annual cost benefits within three years from the deal.
Subject to regulatory and merger control approvals, the transaction is expected to close by mid-2026. Banijay said it expected no regulatory hurdles given the little overlap between the groups. It intends to sell its 53.9 per cent stake in the German online gambling operator Bet-at-home. Tipico, which is the market leader in Germany, will continue to operate from Malta .
The deal also includes Tipico’s Admiral business, which it acquired from Novomatic earlier this year. Admiral manufactures gaming and betting terminals in Austria and operates a network of retail betting outlets.
Leadership roles after the Betclic-Tipico merger
From January 1 2026, Betclic CEO Nicolas Béraud will step into the role of chairman of Banijay Gaming’s board, while Lov Group Invest will retain the president position. Julien Brun, currently COO, will succeed Béraud as Betclic’s CEO.
Following the deal’s completion, former Tipico CEO Joachim Baca will serve as vice-chairman of the Banijay Gaming board. Axel Hefer will continue in his role as Tipico’s CEO.
Banijay Group CEO François Riahi said: “Tipico fits perfectly well in this strategy and is in line with our DNA: strong leader in two important markets, fully regulated, product focused, highly profitable, providing us – in the sports betting business – with the reach, the scale and the diversification that already make the strength of our content business.”
Banijay Group, formerly Fl Entertainment, is listed in Amsterdam. Shareholders include the Arnault family and Vivendi. Beyond gaming, it also owns Banijay Entertainment, which is involved in TV production, incluiding reality shows like Big Brother and MasterChef and series such as Black Mirror and Peaky Blinders. It bought Zodiak Media in 2016 and Endemol Shine Group in 2020. After the sale of Tipico, CVC will retain a minority stake in the newly combined gaming business.
