Banijay Group, the Entertainment powerhouse, has signed a binding agreement with CVC and Tipico’s founders to combine Betclic and Tipico groups, becoming the majority shareholder of the combined entity, and creating a European champion in sports betting and online gaming.

Banijay Group will buy the major stake of CVC in Tipico in cash, and all shareholders of Betclic and Tipico, including the respective founders, will become shareholders of the combined entity.

With the addition of Tipico Group, leader in sports betting and online gaming in Germany and Austria, Banijay Group would bring, on a pro forma basis¹, its revenue to €6.4bn and its adjusted EBITDA to €1.4bn in 2024.

Banijay Group’s gaming activity – Banijay Gaming – which would double in revenue, adjusted EBITDA and free cash-flow and regroup three strong brands: Betclic, Tipico and Admiral² – generated €3.0bn in revenues, €854m in Adjusted EBITDA and €716m in Adjusted free cash flow in 2024, on a pro forma basis. Together, they serve almost 6.5m unique active players annually, operate more than 1,250 betting shops in Germany and Austria and employ 5,300 employees.

Betclic and Tipico are two complementary local champions with leading positions in six highly attractive and fully regulated markets (Germany, France, Portugal, Austria, Poland, and Côte d’Ivoire) thanks to strong tech and product expertise, joining forces to become the fourth largest European sports betting and gaming player and the leader of sports betting in Continental Europe.

Stéphane Courbit, President of Lov Group Invest, added: “Banijay Group’s story is one of sustained growth and expansion – uniting entrepreneurs, talent and expertise across industries to build champions. The addition of Tipico marks another decisive step in 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.”

François Riahi, CEO of Banijay Group, commented: “We are delighted to announce this transformative deal for Banijay Group. As presented during our Capital Markets Day, Banijay Group is a natural consolidator in the field of Entertainment and is able to seize opportunities to expand and to create value.

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.

I am particularly pleased to see that Tipico founders have decided to partner with us to build a new European leader in the sports betting business, rolling over all their stake in Tipico into Banijay Gaming, which is fully consistent with our DNA to gather strong entrepreneurs for the long term and a testimony to their trust in the future value creation. Nicolas Béraud, Betclic founder, also reiterated his commitment to Banijay Gaming by increasing his stake in the business on the occasion of the deal through an evolution of his LTIP, and moving to the Banijay Gaming Chairman position as of 2026.”

Nicolas Béraud, Founder of Betclic and future Chairman of Banijay Gaming, added: “It is an exciting landmark moment for Betclic and Banijay Gaming.

Through the proposed combination leveraging three strong brands: Betclic, Tipico, Admiral – Banijay Gaming is building a new European leader – one that combines scale with innovation, and a deep commitment to sustainable, regulated entertainment. Betclic and Tipico share the same set of values: the passion for sport, the sense of innovation and the focus on the markets where they can win.Together, we will be stronger, with the scale, talent, and innovation needed to deliver unmatched experience for our players, while opening new opportunities for our teams and partners across Europe.”