Banijay Group has announced a binding agreement to acquire a majority stake in Tipico Group, uniting the German and Austrian betting operator with Banijay's existing Betclic brand under the Banijay Gaming division.
The Paris-based media and entertainment group will purchase CVC's shareholding in Tipico in cash, while the founders of both Betclic and Tipico will roll their stakes into the combined business.
The transaction is expected to close by mid-2026, subject to regulatory approval.
Through the transaction, enterprise values agreed by the parties for the Betclic and Tipico groups amount to €4.8bn and €4.6bn respectively, merging to form a combination worth over €9bn.
Banijay said the combined entity will generate €6.4bn ($7.4bn) in revenue and €1.4bn in adjusted EBITDA on a 2024 pro forma basis.
The group will initially hold 65% ownership, with a target of increasing this to 72% through call options agreed with CVC and Tipico's management team.
Banijay President Stéphane Courbit said: "The addition of Tipico marks another decisive step in our journey and reinforces our position in the European sports betting and gaming landscape."
The merged division, which will comprise Betclic, Tipico and Admiral Austria, will operate in six regulated markets, including Germany, France, Portugal, Austria, Poland and Côte d'Ivoire, with a combined player base of 6.5 million.
Banijay said it anticipates achieving €100m in annual synergies through "topline growth and platform efficiencies," with both companies maintaining separate brands and governance structures.
Following completion, Nicolas Béraud, Betclic CEO, will become Chairman of Banijay Gaming in January 2026, while Tipico CEO Axel Hefer will remain in his current position. Former Tipico CEO Joachim Baca will serve as Vice-Chairman.
The acquisition follows several developments in recent months for Banijay, including the resignation of Non-Executive Director François Laroze in September and the group's ongoing collaboration with Scientific Games on its Deal or No Deal lottery franchise.
Banijay reported €2.21bn in first-half 2025 revenue, up 6.1% year-on-year, ahead of its nine-month financial results due 6 November
