Banijay Group, the entertainment powerhouse, has announced the successful completion of its acquisition of Tipico Group. The combination of Betclic and Tipico marks a major milestone for Banijay Group, strengthening its role as a natural consolidator in the entertainment industry and creating a European leader in sports betting and online gaming.
The merger brings together three strong brands Betclic, Tipico, and Admiral each with leading positions across six key markets: Germany, France, Portugal, Austria, Poland, and Côte d’Ivoire. With this combination, Banijay Group is now positioned as the fourth-largest European sports betting and gaming operator by revenue, and the leader in sports betting across Continental Europe.
The transaction is built on a shared, sports fan-focused DNA, while combining complementary capabilities. Betclic contributes its digital-native platform, CRM expertise, and proprietary poker offering, while Tipico brings strength in automatic trading and omnichannel execution. Together, these capabilities are expected to enhance the Group’s products and improve the user experience.
Under the new governance structure, Nicolas Béraud, the former CEO of Betclic, will serve as Chairman of the Banijay Gaming Board. Lov Group Invest will remain President, and Joachim Baca, Chairman and former CEO of Tipico, will become Vice-Chairman of the Board. Julien Brun, previously COO, will take on the role of CEO of Betclic, while Mate Bacic will become CEO of Tipico. Previously, Mate Bacic was CEO of Tipico Austria and Admiral Austria, and before that, he served as COO of Tipico.
Nicolas Béraud, Founder of Betclic and Chairman of Banijay Gaming, said: “With this combination, Banijay Gaming becomes a truly scaled European platform, with enhanced diversification and increased exposure to large, fully regulated markets. By bringing together our shared DNA and technologies, trading expertise, and customer platforms, we will accelerate product innovation, enhance our omnichannel offering, and deliver a more seamless and engaging experience for our players. Our priority now is to unlock the full potential of this combination to drive growth across all our markets.”
Banijay Gaming expects the acquisition of Tipico to significantly boost performance, with revenue, adjusted EBITDA, and adjusted free cash flow expected to double. On a pro forma basis, Banijay Group would have generated €3.1 billion in revenue, €0.9 billion in adjusted EBITDA, and €0.7 billion in adjusted free cash flow in 2025 following the Tipico acquisition.
Including the combination with All3Media, pro forma 2025 results would have reached €7.4 billion in revenue, €1.6 billion in adjusted EBITDA, and €1.2 billion in adjusted free cash flow.The transaction is expected to be value-accretive, supported by identified synergies of approximately €100 million.
These synergies include around €70 million from operational and around €30 million from capital expenditure efficiencies, to be progressively implemented over the mid-term after the FIFA World Cup 2026. At closing, Banijay Group will own 65% of the capital of Banijay Gaming. Tipico and Betclic founders, along with CVC, will hold the remaining stake.
Banijay Group intends to increase its ownership progressively over the coming years to at least 72%, using call options agreed for the shares held by CVC and the managers of Tipico. The founders of both Betclic and Tipico have fully rolled over their shares into Banijay Gaming, reflecting a long-term partnership and alignment around future value creation.
