Banijay Group has made what it is describing as the “largest acquisition in its history” by buying a majority stake in betting behemoth Tipico Group for €3B ($3.5B).
The European powerhouse has bought Tipico from CVC and will combine the company with its own betting outfit, Betclic, to open a Banijay Gaming division. Headquartered in Malta and with branches around Europe, Tipico has around 1,800 staff, which will contribute to creating the fourth largest sports betting and gaming operator in Europe once the deal is complete, according to Banijay.
Banijay explained that the transaction will be fully backed by a certain funds financing package for a principal amount equal to approximately €3B, which includes the refinancing of Tipico Group’s existing debt, underwritten by some of Betclic’s main financing partners. Banijay’s net financial debt totaled €2.6B as of December 31 2024, an increase on the prior year. The group is targeting €100M of annual synergies in the medium term.
Completion of the deal is expected in mid-2026 following regulatory checks. Tipico acquired another betting player, Admiral Austria, last month. If complete last year, Banijay said its revenue for 2024 would have been €6.4B and adjusted EBITDA €1.4B, which would have been an increase of around a third and a half respectively. Last year’s Banijay revenue of €4.8B grew due to an uptick in Banijay’s betting biz, while its entertainment business remained relatively flat.
The acquisition will lead to a reshuffle. As of January 1 Nicolas Béraud, Betclic CEO, will become Chairman of the Board of Banijay Gaming, while Lov Group Invest, which is run by Banijay founder Stéphane Courbit, will continue as President. Julien Brun, currently COO of Betclic, will succeed Nicolas Béraud as Betclic CEO. After completion of the transaction, Joachim Baca, former CEO of Tipico, will become Vice-Chairman of the Board of Banijay Gaming, while Tipico CEO Axel Hefer will remain in his current role.
Banijay Group CEO François Riahi said: “We are delighted to announce this transformative deal for Banijay Group. As presented during our Capital Markets Day, Banijay Group is a natural consolidator in the field of Entertainment and is able to seize opportunities to expand and to create value. 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. I am particularly pleased to see that Tipico founders have decided to partner with us to build a new European leader in the sports betting business, rolling over all their stake in Tipico into Banijay Gaming, which is fully consistent with our DNA to gather strong entrepreneurs for the long term and a testimony to their trust in the future value creation.”
Courbit added: “Banijay Group’s story is one of sustained growth and expansion – uniting entrepreneurs, talent and expertise across industries to build champions. The addition of Tipico marks another decisive step in that journey and reinforces our position as a driving force in the European sports betting and gaming landscape. This is a strong move that reflects our ambition and long-term vision.”
Banijay bought Endemol Shine five years ago and has since been looking to expand into areas like gaming, betting and live events. In 2022, Banijay, along with Betclic, went public via a SPAC deal through FL Entertainment. Last year, FL Entertainment rebranded to Banijay Group.
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