Banijay Group to merge Tipico and Betclic in $3.5B deal to create major European gaming operator | Yogonet International
Summary
Banijay Group has agreed to acquire a 65% stake in Tipico from CVC and merge the German sports betting leader with its Betclic business, in a deal financed by a €3 billion package (about $3.5 billion). The transaction values Betclic at €4.8bn and Tipico at €4.6bn and, subject to approvals, is expected to close in mid-2026. Banijay plans to increase its ownership in Tipico to at least 72% via call options following the initial purchase.
The combined gaming division will roughly double Banijay’s gaming footprint, producing pro forma 2024 revenues of around €6.4bn and adjusted EBITDA of €1.4bn. Management is targeting approximately €100m in annual synergies in the medium term. The merged group will focus on operating only in locally regulated markets, and group leverage is expected to be about 3.5x after the deal and below 2.5x within three years.
Leadership changes will start on 1 January 2026: Betclic founder Nicolas Béraud will chair the Banijay Gaming Board; Julien Brun will be CEO of Betclic; Joachim Baca vice-chair; Axel Hefer remains CEO of Tipico. Betclic will divest its 53.9% stake in Bet-at-home as part of the move.
Key Points
- Banijay to buy 65% of Tipico from CVC and merge it with Betclic; financing via a €3bn cash package.
- Valuations: Betclic €4.8bn, Tipico €4.6bn; deal expected to close mid-2026 pending approvals.
- Pro forma 2024 combined revenues ~€6.4bn and adjusted EBITDA ~€1.4bn; targeting ~€100m annual synergies.
- The combined operator will focus on locally regulated markets and counts c.6.5 million active players annually.
- Leadership changes effective 1 Jan 2026; Betclic to divest its Bet-at-home stake; Tipico founders roll over their stake into Banijay Gaming.
Why should I read this?
Because this is big news for anyone tracking European iGaming — two market leaders are combining to create one of the continent’s largest regulated operators. If you work in gaming, payments, regulation or investment, this deal will shift market dynamics, partnerships and M&A benchmarks. Short version: scale, regulation focus and cost synergies — pay attention.
