Banijy buys Tipico in the largest acquisition in its history
The Banijay Group has made what it describes as the “largest acquisition in its history” by buying a majority stake in betting giant Tipico Group for €3 billion ($3.5 billion).
The European company has purchased Tipico from CVC and will merge the company with its betting company, Betclic, to open its Banijay Gaming division. Headquartered in Malta with branches across Europe, Tipico has around 1,800 employees, which will create the fourth-largest sports betting and gaming operator in Europe once the deal is completed, according to Banijay.
Banijay explained that the deal will be fully supported by a certain money financing package with a base amount equal to approximately €3 billion, which includes the refinancing of Tipico Group’s existing debt, guaranteed by some of Betclic’s key financing partners. Banijay’s net financial debt totaled €2.6 billion as of December 31, 2024, an increase from the previous year. The group aims to achieve €100 million of annual synergies in the medium term.
The deal is expected to be completed in mid-2026 after regulatory examinations. Tipico acquired another betting player, Admiral Austria, last month. If completed last year, Banijay said its 2024 revenue would have been €6.4 billion and adjusted EBITDA €1.4 billion, which would have represented an increase of about a third and a half, respectively. Banjay’s revenue of €4.8 billion last year rose due to an uptick in Banijay’s betting business, while its entertainment business remained relatively flat.
The takeover will lead to a cabinet reshuffle. As of January 1, Betclic CEO Nicolas Peraud will become Chairman of the Board of Directors of Banijay Gaming, while Lov Group Invest, run by Banjay founder Stéphane Corbet, will continue as Chairman. Julien Brun, currently COO of Betclic, will succeed Nicolas Peraud as CEO of Betclic. Following the completion of the transaction, Joachim Bacca, former CEO of Tipico, will become Vice Chairman of Banjay Gaming, while Tipico CEO Axel Hefer will remain in his current position.
François Riahi, CEO of Banijay Group, said: “We are delighted to announce this transformational transaction for Banijay Group. As presented during our Capital Markets Day, Banijay Group is a natural consolidator in the entertainment space and is able to seize opportunities to expand and create value. Tipico fits perfectly into this strategy and is in line with our DNA: a strong leader in two markets Significant, fully regulated, product focused, highly profitable, providing We – in the sports betting space – have the reach, scale and diversity that truly makes up the strength of our content business. I am particularly pleased to see that the founders of Tipico have decided to partner with us to build a new leading European sports betting company, transferring all of their stake in Tipico to Banijay Gaming, which is in line with Perfectly with our DNA to bring together strong entrepreneurs for the long term and a testament to their confidence in future value creation.
Corbett added: “The story of Banijay Group is one of sustainable growth and expansion – uniting entrepreneurs, talent and expertise across industries to build champions. The addition of Tipico represents another crucial step on 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 looked to expand into areas such as gaming, betting and live events. In 2022, Banijay, along with Pitklic, It went public through a SPAC deal Through Florida Entertainment. Last year, FL Entertainment rebranded as Banijay Group.