Banijay Group completes the acquisition of Tipico Group

• 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 2025 , 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 All3Media , 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.
Banijay Group owns at closing 65% 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.