Banijay to acquire majority stake in Tipico creating a European gaming powerhouse
French entertainment giant Banijay has agreed to buy a majority stake in betting firm Tipico from private equity group CVC, in a deal that will combine Tipico with Banijay’s existing online gaming business Betclic.
The move will create one of Europe’s largest gaming operators and marks Banijay’s most ambitious push beyond television production to date.
The deal values Tipico at €4.6 billion ($5.4 billion) and will bring together two leading online betting platforms under a new entity, Banijay Gaming, which will cater to around 6.5 million players and operate more than 1,250 betting shops across Germany and Austria.
Banijay, backed by shareholders including the Arnault family and Vivendi, said it will initially hold 65% of the new entity and plans to increase that stake to 72% through call options.
CVC will retain a minority shareholding. The transaction, financed with €3 billion, is expected to close in mid-2026.
Building a European gaming powerhouse
With the acquisition of Tipico, Banijay will extend its reach into Europe’s fast-growing betting and online gaming markets.
On a pro forma basis, the combined company is expected to generate €6.4 billion in revenue and €1.4 billion in adjusted EBITDA in 2024.
“This is a transformative deal for Banijay Group,” said François Riahi, CEO of Banijay Group.
Tipico fits perfectly well in this strategy and is in line with our DNA: strong leader in two important markets, fully regulated, product-focused, highly profitable, providing us, in the sports betting business, with the reach, the scale, and the diversification that already make the strength of our content business,” he said.
The new Banijay Gaming division, which will include Betclic, Tipico, and Admiral, is projected to double its revenues and cash flow in the coming years.
Collectively, the brands employ more than 5,300 people and serve a combined base of 6.5 million active players.
Synergies and strategic ambitions
Banijay said the merger will deliver around €100 million in annual synergies over the medium term, driven by platform efficiencies and top-line growth.
The integration of Betclic and Tipico will create a more competitive European platform, particularly in regulated markets like Germany and Austria.
The enterprise values assigned to Betclic and Tipico stand at €4.8 billion and €4.6 billion, respectively.
The founders of both companies will retain equity in the merged entity, ensuring what Banijay called “a long-term partnership and full alignment on future value creation.”
Axel Hefer, CEO of Tipico, said the merger represents a defining moment for the company.
“Joining forces with Betclic represents a pivotal milestone in Tipico’s growth journey. This is the deal we have been working toward — from our refocus on Europe after the sale of our US business to last year’s expansion in Austria. Together, we will build a broader European platform.”
Expanding beyond television
Banijay, best known for producing global television hits such as “Big Brother” and “Black Mirror,” has increasingly diversified its portfolio in recent years.
By integrating gaming and sports betting, the company aims to become a cross-sector entertainment powerhouse spanning television, digital content, and online gaming.
The deal underscores Banijay’s broader ambition to evolve from a traditional media company into a multi-platform entertainment group — one that blends storytelling, digital engagement, and gaming to capture Europe’s shifting leisure economy.
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