Banijay Group, the French company behind TV hits like Koh-Lanta, just made a big leap beyond entertainment. Banijay said it’s buying a majority stake in Tipico Group, a top player in sports betting and gaming across Germany and Austria, with headquarters in Malta. This €4.6 billion deal means Tipico will join forces with Betclic Banijay’s current online betting brand under the company’s gaming division. Banijay’s leaders call this move transformative, saying it positions them as a major new force in Europe’s sports betting and online gaming world.

Building a European Betting Champion

Banijay Group just announced a big move: they’re set to become the main player behind a new powerhouse in European sports betting and online gaming. By joining forces with Betclic, Tipico, and Admiral Austria, Banijay is taking control of a combined group that’s aiming to set the pace in the industry. Here’s what’s happening. Banijay signed a binding agreement with CVC and Tipico’s founders, so they’re not just talking; they’re making it official. The deal sees Banijay buying out CVC Capital Partners’ majority stake in Tipico, and paying cash for it. Meanwhile, the founders of Tipico and Betclic aren’t cashing out; instead, they’re reinvesting their shares in the new combined business. After all the paperwork clears, Banijay expects to hold about 65% of the company. And they’ve got a plan to bump that up to 72% later, using call options.

Banijay’s confident this will supercharge its gaming division. The company says Banijay Gaming’s revenue, adjusted EBITDA, and free cash flow will all double after the deal. If you look at the numbers for 2024, the combined group of Betclic, Tipico, and Admiral pulled in €3 billion in revenue, with €854 million in adjusted EBITDA and €716 million in free cash flow. This new group is going to be big. They’ll serve nearly 6.5 million active players each year, run over 1,250 betting shops across Germany and Austria, and employ more than 5,000 people. Banijay isn’t just expanding; they’re setting themselves up as Europe’s new betting champion.

A Landmark Deal for Banijay

Le Monde called it a landmark moment for Banijay. The paper reported that this deal lets Banijay double its size in a booming market, describing it as the group’s biggest acquisition yet. Tipico gets a price tag of €4.6 billion, Betclic even higher at €4.8 billion. For comparison, Banijay’s own market value was just €4.2 billion before this news broke. This move marks a major shift for Banijay. They’ve always been known for content production and distribution, with a huge library of entertainment formats and operations spread across the globe. But lately, they’ve been pushing hard into gaming. Betclic stands out as a key driver in that effort, fueling Banijay’s growth in new directions.

A Push for Scale in a Consolidating Market

Europe’s sports betting and online gaming market is changing fast. Companies keep merging, fighting to get bigger and run more efficiently as costs for tech, compliance, and marketing climb higher each year. Le Monde notes that the Banijay-Tipico deal is about building Europe’s fourth-largest player in this space, just behind Flutter Entertainment, Entain, and Lottomatica. For Banijay, buying Tipico isn’t just about getting bigger; it’s a clear move to balance its business. The company says that once the deal closes, gaming and entertainment will each make up almost half of its total revenue. Gaming jumps to about 47%, while entertainment sits at 53%. That’s a real shift for Banijay.

François Riahi, Banijay’s CEO, calls this deal a turning point. “This changes everything,” he says. Tipico, in his view, fits right into Banijay’s long-term plans and culture. “Tipico leads in two key, fully regulated markets. It’s product-focused, highly profitable, and gives us the reach and scale we already have in our content business; now we’re bringing that strength to sports betting too.”

Founders Back the Combined Vision

Riahi pointed out that Tipico’s founders chose to stick with the business. He said he was “particularly pleased” they decided to roll all their shares into Banijay Gaming. For him, this move makes it clear they trust the future of the combined group and believe it can create real value as time goes on. Starting in January 2026, Nicolas Béraud, who founded Betclic, will step in as chairman of Banijay Gaming. He said the merger brings together three big, recognisable brands: Betclic, Tipico, and Admiral. Béraud also mentioned that Betclic and Tipico have a lot in common. They both care deeply about sports, focus on innovation, and zero in on markets where they know they can win.

“Together, we will be stronger,” Béraud said. He sees the group gaining from greater scale, more talent, and a boost in innovation. And with that, he believes they’ll deliver a better, more competitive experience for players all across Europe.

Financing and Leadership Changes

Banijay expects to wrap up the deal by mid-2026, once regulators sign off and the other requirements fall into place. To pay for it, they’re taking on about €3 billion in debt, which also covers Tipico’s current loans. The company says the financing is rock-solid, a “certain funds financing package” underwritten by some of Betclic’s biggest financing partners. After everything goes through, Banijay figures its leverage will sit at roughly 3.5 times earnings. They’re aiming to bring that number down below 2.5 within the next three years.

Strategic Fit and Long-Term Ambitions

Let’s look at what this deal really means. Betclic brings serious digital know-how, running mostly online in places like France, Portugal, Poland, and Côte d’Ivoire. Tipico’s different; they’re all about retail, with a big network of betting shops in Germany and Austria. Put them together, and suddenly you’ve got strengths on both sides: digital and physical. Banijay says combining these two will make the customer experience smoother and set them apart, whether someone’s betting online or walking into a shop. They’re not just talking about a better experience, though. They expect this move to pull in around €100 million a year in synergies in the medium term. That comes from rolling out new products faster, scaling up ideas across markets, and running technology and infrastructure more efficiently.

With this acquisition, Banijay isn’t just dabbling; it’s putting itself right at the heart of Europe’s betting industry. And while gaming is clearly a bigger part of the picture now, Banijay’s still keeping one foot in entertainment as it grows.