Banijay Group completes the acquisition of Tipico Group
Press Release Paris, April 23, 2026
Banijay Group completes the acquisition of Tipico Group
and creates a European champion in sports betting and online gaming
- Banijay Gaming becomes the leader in sports betting in Continental Europe with leading positions in six key markets
- Following this combination, Banijay Gaming expects to double its revenue, adjusted EBITDA and adjusted free cash-flow and synergies are expected to reach c.€100 million over the mid-term
- Banijay Group pro forma 20251, including the combination with All3Media, would have reached €7.4 billion in revenue, €1.6 billion in adjusted EBITDA and €1.2 billion in adjusted free cash flow
Banijay Group, the Entertainment powerhouse, today announces the successful completion of the acquisition of Tipico Group. The combination between Betclic and Tipico marks a significant milestone for Banijay Group, reinforcing its position as natural consolidator of the entertainment industry and creating a European champion in sports betting and online gaming.
This combination unites three strong brands: Betclic, Tipico and Admiral with leading positions across six key markets, including Germany, France, Portugal, Austria, Poland and Côte d’Ivoire. The Group is now positioned as the fourth largest European sports betting and gaming operator in revenue, and the leader in sports betting in Continental Europe.
The transaction leverages a shared sports fan-centric DNA, while bringing together complementary capabilities, including Betclic’s digital-native platform, CRM expertise and proprietary poker offering, and Tipico’s strength in automatic trading and omnichannel execution, enhancing the Group’s product offering and user experience.
Under the new governance structure, Nicolas Béraud, former Betclic CEO, serves as Chairman of the Board of Banijay Gaming, while Lov Group Invest remains President. Joachim Baca, Chairman and former CEO of Tipico, serves as Vice-Chairman of the Board of Banijay Gaming. Julien Brun, formerly COO, serves as CEO of Betclic, while Mate Bacic, becomes CEO of Tipico. Previously, Mate Bacic served as CEO of Tipico Austria and Admiral Austria and prior to that, he was COO of Tipico.
Nicolas Béraud, Founder of Betclic and Chairman of Banijay Gaming, commented: “With this combination, Banijay Gaming becomes a truly scaled European platform, with enhanced diversification and increased exposure to large, fully regulated markets. By bringing together our shared DNA and technologies, trading expertise and customer platforms, we will accelerate product innovation, enhance our omnichannel offering and deliver a more seamless and engaging experience to our players. Our priority now is to unlock the full potential of this combination to drive growth across all our markets.”
Through Tipico’s acquisition, Banijay Gaming expects to double its revenue, adjusted EBITDA and adjusted free cash-flow, and would have reached in 2025 on a pro forma basis €3.1 billion in revenue, €0.9 billion in adjusted EBITDA and €0.7 billion in adjusted free cash flow.
Including the combination with All3Media2, on a pro forma basis3 in 2025, Banijay Group would have generated revenues of €7.4 billion, adjusted EBITDA of €1.6 billion and adjusted free cash flow of €1.2 billion.
The transaction is expected to be value-accretive, supported by identified synergies of c.€100 million, including operational and capital expenditure efficiencies of c.€70 million and c.€30 million respectively, to be progressively implemented over the mid-term, after FIFA World Cup 2026.
Banijay Group owns at closing 65%4 of the capital of Banijay Gaming, alongside Tipico and Betclic founders and CVC, and intends to increase this stake progressively in the next years to a minimum of 72% through call options agreed on the shares held by CVC and the managers of Tipico. The founders of both Betclic and Tipico have fully rolled over their shares into Banijay Gaming, reflecting a long-term partnership and full alignment on future value creation.
Investor Relations
Press Relations
banijaygroup@brunswickgroup.com
Hugues Boëton +33 6 79 99 27 15
Nicolas Grange +33 6 29 56 20 19
About Banijay Group
Banijay Group is a global entertainment leader founded by Stéphane Courbit, an entrepreneur and entertainment industry pioneer with more than 30 years of experience in the industry. Its mission is to inspire passion by providing audiences with engaging and innovative entertainment experiences. The Group’s activities include Content production & distribution (through Banijay Entertainment, the largest international independent producer and distributor, which announced in March 2026 that it will combine with All3Media before fall 2026, subject to customary conditions precedent), Live experiences (through Banijay Live, a leading player in live experiences) and Sports betting & gaming (through Banijay Gaming, Europe’s fast-growing sports betting platform, encompassing leading brands including Betclic and since April 2025, Tipico and Admiral).
In 2025, Banijay Group recorded on a standalone basis (before Tipico and All3Media operations) revenue of €4.9 billion and Adjusted EBITDA of €961 million. Banijay Group is listed on Euronext Amsterdam (ISIN: NL0015000X07, Bloomberg: BNJ NA, Reuters: BNJ.AS).
Important Information — Forward-Looking Statements
This press release includes forward-looking statements. The forward-looking statements are generally identified by the use of forward-looking words, such as “will,” “consider”, “plan”, “think”, “have the objective”, “expect”, “intend”, “should”, “aim”, “estimate”, “believe”, “wish”, “could” or other variations of such terms, or by discussion of strategy. This information is not historical data and must not be interpreted as guarantees that the facts and data set forth will occur. This information is based on data, assumptions, and estimates that Banijay Group believes is reasonable. They may change or be modified because of uncertainties related, for example, to the economic, financial, competitive, or regulatory environment, all of which are outside of our control. You are cautioned not to place undue reliance on any forward-looking statement contained in this press release, which speaks only as at the date hereof. In light of these risks, uncertainties and assumptions, the forward-looking events described herein may not occur. In particular, the business combination of Banijay Entertainment and All3Media is subject to subject to customary conditions precedent, including regulatory approvals and approval by the next General Meeting, and there can be no guarantee that such business combination will be consummated within the anticipated timeline, or at all.
Important Information — Pro Forma Financial Information
The pro forma financial information in respect of the combined group presented in this press release is based upon available information, including preliminary estimates that are subject to change once more detailed information is obtained, and certain assumptions. The pro forma financial information is presented for information purposes only and is not intended to represent or be indicative of the financial condition or results of operations that Banijay Group would have reported had the acquisition of a majority stake in Tipico by Banijay Group or the business combination with All3Media actually occurred during the periods and as of the dates presented, and such information does not purport to project our results of operations or financial condition as of any future date or for any future period. The pro forma financial information has not been prepared in accordance with the requirements of Regulation S-X of the Securities Act, the Prospectus Regulation or any generally accepted accounting standards. Neither the assumptions underlying the pro forma adjustments nor the resulting pro forma financial information have been audited or reviewed and, as a results actual results of the combined group upon consummation of the acquisition may vary materially therefrom.
1 Including 2025 full year contribution of (i) Tipico Group and (ii) All3Media, the completion of which remains subject to customary conditions precedent, including regulatory approvals and approval by the next General Meeting.
2 Completion subject to customary conditions precedent, including regulatory approvals and approval by the next General Meeting.
3 Including 2025 full year contribution of both Tipico Group and All3Media
4 Stakes given on a fully diluted basis
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