Banijay Group acquires majority stake in Tipico, plans Betclic merger

Summary

Banijay Group has bought a 65% stake in Tipico Group from CVC and intends to increase that holding to at least 72% via call options. The cash deal is backed by a financing package of €3 billion. Banijay will merge Tipico with Betclic to form a combined Banijay Gaming group, keeping shareholders of both businesses in the new entity and rolling Tipico founders’ equity into the merged business. The parties expect the transaction to close in mid-2026, subject to regulatory approvals.

The combined group will be a major European sports-betting operator, with pro forma 2024 revenue of €6.4 billion and adjusted EBITDA of €1.4 billion. It will run a large regulated footprint including more than 1,250 retail betting shops and will include Tipico’s Admiral Austria retail and terminal business. Betclic will divest its 53.9% stake in Bet-at-home as part of the reorganisation. Leadership changes are planned from 1 January 2026, with Betclic CEO Nicolas Béraud becoming chair of Banijay Gaming’s board and COO Julien Brun stepping up to lead Betclic.

Key Points

Banijay acquired 65% of Tipico from CVC, with options to reach a minimum 72% ownership.
The acquisition is financed by a €3 billion-backed cash package and is expected to close mid-2026, pending approvals.
Tipico and Betclic will be merged into a single Banijay Gaming group; shareholders in both firms will retain stakes.
Pro forma 2024 figures: c.€6.4bn revenue and €1.4bn adjusted EBITDA for the combined group.
The combined business will operate largely in regulated markets and run over 1,250 retail betting shops, including Tipico’s Admiral Austria operations.
Betclic will divest its majority holding in Bet-at-home; the reformed group will focus on locally regulated markets across several European countries.
Planned board and executive moves: Nicolas Béraud to chair Banijay Gaming, Julien Brun to become Betclic CEO, and Joachim Baca to become vice-chairman of Banijay Gaming.
Analysts (Regulus Partners) are bullish on revenue upside but flag regulatory and black-market competition as key risks.

Context and relevance

This deal reshapes the European sports-betting landscape by combining two strong local brands under a media-led owner. It matters because it accelerates industry consolidation, increases scale in regulated markets (notably Germany and Austria), and emphasises retail as a strategic asset. For operators, suppliers and regulators, the merged group’s size and retail reach will affect market dynamics, distribution bargaining power and competitive positioning across core European territories.

Why should I read this?

Short version: big-money takeover, major brand mash-up, and proper retail muscle. If you work in European iGaming, betting retail, payments, or regulation, this one changes who you’ll be competing with — and where. Worth a quick skim (or a deep read if you’re connected to these markets).

Author style

Punchy: This is a transformational M&A move — not just another buyout. The scale, retail footprint and leadership reshuffle make it a must-watch for industry strategists and investors.

Source

Source: https://igamingbusiness.com/strategy/ma/banijay-group-majority-stake-tipico-betclic/