Banijay Completes Acquisition of Tipico and Targets €3.1 Billion in Revenue
Banijay Group has finalized the acquisition of Tipico Group, thus creating a major player in the sports betting and online gaming market in Europe. This merger, which brings together the brands Betclic, Tipico, and Admiral, positions the group as the fourth largest operator in Europe by revenue and as the leader in sports betting in continental Europe.
Strategic Integration of Major Brands
The combination of Betclic and Tipico unites three strong brands across six key markets: Germany, France, Portugal, Austria, Poland, and Ivory Coast. This integration merges the respective strengths of the two entities: Betclic's native digital platform, its customer relationship management expertise, and its proprietary poker offering, complemented by Tipico's strengths in automated trading and omnichannel execution. The new governance structure appoints Nicolas Béraud, former CEO of Betclic, as the chairman of Banijay Gaming's board, while Joachim Baca, president and former CEO of Tipico, becomes the vice-chairman. Julien Brun, former COO, is named CEO of Betclic, and Mate Bacic takes the helm at Tipico.
Financial Projections and Synergies
Banijay Gaming expects to double its revenue, adjusted EBITDA, and adjusted free cash flow through Tipico. On a pro forma basis in 2025, the group would have achieved €3.1 billion in revenue, €0.9 billion in adjusted EBITDA, and €0.7 billion in adjusted free cash flow. The transaction is expected to create value, supported by identified synergies of approximately €100 million, comprising €70 million in operational savings and €30 million in capital expenditure efficiency, to be progressively implemented by the time of the FIFA World Cup 2026.
Ownership and Future Plans
Banijay Group holds 65% of the equity in Banijay Gaming at closing, alongside the founders of Tipico and Betclic as well as CVC. The group plans to gradually increase its stake to a minimum of 72% over the coming years through purchase options on the shares held by CVC and the executives of Tipico. The founders of Betclic and Tipico have fully reinvested their shares in Banijay Gaming, demonstrating their long-term commitment and alignment with future value creation. On a pro forma basis including All3Media in 2025, Banijay Group would have generated €7.4 billion in revenue, €1.6 billion in adjusted EBITDA, and €1.2 billion in adjusted free cash flow.
