Banijay Group, the global entertainment powerhouse, today announced it has signed a binding agreement with CVC Capital Partners and Tipico’s founders to combine Betclic and Tipico under one unified structure.
Through this transaction, Banijay Group will acquire CVC’s majority stake in Tipico in cash, becoming the majority shareholder of the combined entity. The deal will create a new European leader in sports betting and online gaming, operating across six fully regulated markets.
All shareholders of Betclic and Tipico, including their founders, will hold shares in the new entity. With Tipico — the leading operator in Germany and Austria — joining Banijay’s portfolio, the Group will strengthen its gaming division and achieve, on a pro forma basis, €6.4 billion in total group revenues and €1.4 billion in adjusted EBITDA for 2024.
Banijay Gaming, the Group’s online gaming arm, will double its revenue and EBITDA, powered by three strong brands — Betclic, Tipico, and Admiral Austria. Collectively, these brands generated €3.0 billion in revenue, €854 million in adjusted EBITDA, and served 6.5 million active players in 2024.
The combination will deliver €100 million in annual synergies through topline growth and platform efficiencies, while maintaining local brand identities and governance.
Following completion (expected by mid-2026, subject to regulatory approvals), Banijay Group will hold 65% of the combined company, with options to increase ownership to 72%.
- Nicolas Béraud, Founder and CEO of Betclic, will become Chairman of Banijay Gaming (effective January 1, 2026).
- Julien Brun, Betclic COO, will succeed him as CEO of Betclic.
- Joachim Baca, former Tipico CEO, will serve as Vice-Chairman of Banijay Gaming.
- Axel Hefer will continue as Tipico CEO.
The transaction will be financed through a €3 billion package, including refinancing of Tipico’s existing debt, with leverage expected to decline from 3.5x to below 2.5x EBITDA within three years through strong cash flow.
This combination positions Banijay as the fourth-largest European sports betting and gaming operator by revenue (excluding lottery), and the leader in sports betting across Continental Europe.
By uniting Betclic’s digital expertise with Tipico’s omnichannel presence, Banijay Gaming will expand across all distribution channels, enhance customer experience, and strengthen its strategic position in Germany, France, Portugal, Austria, Poland, and Côte d’Ivoire.
The transaction aligns with Banijay’s broader strategy, unveiled at its Capital Markets Day 2025, to scale across Entertainment, Live, and Gaming and cement its status as a global content and entertainment leader.
Stéphane Courbit, President of Lov Group Invest, said:
“Banijay’s story is one of sustained growth. The addition of Tipico reinforces our position as a driving force in the European sports betting and gaming landscape.”
François Riahi, CEO of Banijay Group, added:
“This transformative deal fits perfectly into our strategy. Tipico brings scale, diversification, and profitability to our gaming division — much like our content business has achieved in entertainment.”
Nicolas Béraud, Founder of Betclic and future Chairman of Banijay Gaming, commented:
“By bringing together Betclic, Tipico, and Admiral, we’re building a European leader that combines innovation, responsibility, and a shared passion for sport.”
Axel Hefer, CEO of Tipico, said:
“Joining forces with Betclic accelerates our ability to innovate, deliver excellence, and redefine the customer experience in regulated markets.”
Daniel Pindur, Managing Partner at CVC Capital Partners, stated:
“The combination with Betclic creates a European champion with complementary strengths. We’re proud to have helped Tipico reach this next phase.”
About Banijay Group
Banijay Group is a global entertainment leader founded by Stéphane Courbit, operating across three divisions:
- Banijay Entertainment (Content Production & Distribution)
- Banijay Live (Live Experiences)
- Banijay Gaming (Online Sports Betting & Gaming)
In 2024, Banijay recorded €4.8 billion in revenue and €900 million in adjusted EBITDA. The company is listed on Euronext Amsterdam (ISIN: NL0015000X07; Bloomberg: BNJ NA; Reuters: BNJ.AS).
