Banijay Group completes acquisition of Tipico Group

Banijay Group has announced the successful completion of its acquisition of Tipico Group, which is headquartered in Malta.

Banijay Group, a leading multinational entertainment company which has produced hit television shows such as Peaky Blinders and Black Mirror, already had a presence in the gaming sector in Malta through Betclic offices, which are located in Sliema.

The agreement for Banijay Group to acquire a majority stake in Tipico Group from CVC Capital Partners was signed last year.

Including the combination with All3Media – which is also being acquired by Banijay – on a pro forma basis 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.

“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,” a statement by the group said.

“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 said it 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 acquisition brings changes to leadership positions.

The group said that 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.

Mate Bacic becomes CEO of Tipico, after Axel Hefer stepped down from the position. Bacic served as CEO of Tipico Austria and Admiral Austria and prior to that, he was COO of Tipico.

Banijay Group said that through its acquisition of Tipico, 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.

Banijay Group owns 65 per cent of the capital of Banijay Gaming, alongside Tipico and Betclic founders and CVC, and said it intends to increase this stake progressively in the next years to a minimum of 72 per cent 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, the group said.

The deal valued Tipico at €4.6 billion and Betclic at €4.8 billion. It was financed through a €3 billion funding package, including the refinancing of Tipico’s existing debt.

Nicolas Béraud, Founder of Betclic and Chairman of Banijay Gaming, said: “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.”

Axel Hefer, former CEO of Tipico, said: “Almost three years ago I set foot on the sunny island of Malta starting my journey at Tipico – a stranger to the industry – setting sails for international expansion and growth. Accompanied by an amazing team we have not only repositioned the business but also created a European Champion through the merger with Banijay Group. With the closing of the transaction today my journey is coming to an end.

“Thanks to everybody who has made this an amazing experience.”