Posted on: October 28, 2025, 12:23h.
Last updated on: October 28, 2025, 12:23h.
- Leading French entertainment company acquires majority stake in Tipico
- Acquirer plans to integrate Tipico with its existing Betclic brand
- Banijay Gaming anticipates doubling revenue and EBITDA post-acquisition
Banijay Group, a prominent French entertainment conglomerate, confirmed today its acquisition of a majority stake in the renowned German sports betting operator, Tipico Group, from CVC Capital. The transaction values Tipico at an impressive $5.4 billion.
The acquisition involves a cash payment for Tipico, with Banijay’s plan to merge it with its Betclic brand, effectively forming one of the largest iGaming and sports betting entities in Europe. Banijay projects that this merger will position them as the fourth-largest sports betting operator on the continent.
According to Banijay, the newly formed Banijay Gaming is set to double its revenue, adjusted EBITDA, and free cash flow by bringing together its three robust brands: Betclic, Tipico, and Admiral. This merger achieved a remarkable €3.0 billion in revenue, €854 million in adjusted EBITDA, and €716 million in adjusted free cash flow in 2024, on a pro forma basis. Collectively, they serve nearly 6.5 million active players annually, operate over 1,250 betting shops in Germany and Austria, and employ approximately 5,300 individuals,” the company stated from Paris.
The sale price is a major victory for CVC, particularly given rumors last year suggesting that the firm had valued its Tipico interest at around $3.75 billion.
Banijay Expanding Strategic Geographic Reach
This milestone acquisition marks Banijay’s largest to date and significantly enhances its geographical footprint in the gaming industry.
Betclic enjoys a substantial market presence in France, the second largest economy in the Eurozone, as well as in Portugal. The brand is also well-respected among bettors in the Ivory Coast. The acquisition of Tipico, one of Europe’s leading sportsbook operators, further strengthens Banijay’s position in lucrative markets like Austria, Germany, and Poland.
Banijay anticipates approximately $116.36 million in annual savings over the medium term from this deal. Upon completion of the transaction expected in mid-next year, Banijay will hold a 65% stake in Tipico, with plans to gradually increase that to at least 72%. Founders of Betclic and Tipico are projected to maintain long-term investment roles within Banijay.
CVC has been the primary shareholder of Tipico for the past nine years.
Tipico Has Previously Disposed of US Operations
The Banijay/Tipico arrangement does not include involvement in the US market, as Tipico divested its US operations to MGM Resorts International’s (NYSE: MGM) LeoVegas Group in June 2024 for an undisclosed amount.
This acquisition focused more on acquiring technology than expanding sports betting client numbers, leading to Tipico’s withdrawal from the US sports wagering sector.
While CVC will retain a stake in Tipico, the deal with Banijay significantly lowers its sports gambling investment portfolio. Nonetheless, CVC has historically been a key player in various European sports betting mergers and acquisition discussions.