Banijay Group has announced a definitive agreement to acquire a majority stake in Tipico Group from CVC Capital Partners and Tipico’s founders, combining Tipico with Betclic under Banijay Gaming to form a new European powerhouse in sports betting and online gaming. The transaction values Tipico at €4.6 billion and Betclic at €4.8 billion, with Banijay set to hold 65% of the combined entity at closing and aiming to increase its ownership to 72% through call options.
The deal will nearly double Banijay’s gaming revenue, free cash flow, and adjusted EBITDA by integrating Betclic, Tipico, and Admiral under one platform, generating €3 billion in 2024 revenue, €854 million in adjusted EBITDA, and €716 million in adjusted free cash flow on a pro forma basis. Together, these brands serve 6.5 million players, operate 1,250 betting shops, and employ 5,300 people across Europe.
Banijay Gaming will now be the fourth largest European sports betting and gaming operator and the leading player in Continental Europe, with a balanced footprint across six regulated markets. The combined group expects annual savings of €100 million, driven by growth, technology integration, and platform efficiencies.
The deal is fully financed with approximately €3 billion in secured funding and is expected to close by mid-2026, pending regulatory approvals.
KEY QUOTES:
“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.”
Stéphane Courbit, President, Lov Group Invest
“We are delighted to announce this transformative deal for Banijay Group. Tipico fits perfectly in our strategy as a strong leader in fully regulated markets, bringing reach, scale, and diversification to our gaming business. I am particularly pleased that Tipico’s founders are partnering with us for the long term, reflecting shared trust and entrepreneurial alignment.”
François Riahi, Chief Executive Officer, Banijay Group
“It is an exciting landmark moment for Betclic and Banijay Gaming. By leveraging three strong brands—Betclic, Tipico, and Admiral—Banijay Gaming is building a new European leader that combines scale with innovation and a deep commitment to sustainable, regulated entertainment.”
Nicolas Béraud, Founder of Betclic and Future Chairman of Banijay Gaming
“Joining forces with Betclic represents a pivotal milestone in Tipico’s growth journey. This partnership provides the scale and resources to accelerate product innovation, make bold investments in technology, and set new standards for our customers.”
Axel Hefer, Chief Executive Officer, Tipico Group
“The combination with Betclic is the natural next step in Tipico’s growth story, uniting two market leaders with complementary strengths to create a European champion. We are proud of what has been achieved together and look forward to supporting the new group.”
Daniel Pindur, Managing Partner and Co-Head, CVC DACH
