Banijay Group, the French entertainment and gaming company, has agreed to acquire a majority stake in Tipico from private-equity owner CVC, an acquisition that will forge a continental leader in sports betting and online gaming, according to the company.
Under a binding agreement announced on Tuesday, 28 October, Banijay will combine Tipico with Betclic under a new gaming umbrella, Banijay Gaming. The transaction values Tipico at €4.6bn and Betclic at €4.8bn on an enterprise basis, with Banijay set to hold 65% at closing and aiming to build that to at least 72% via call options over time. Completion is expected by mid-2026, pending merger control and gambling approvals.
A bigger footprint across Europe’s regulated markets
The combination pulls together two operators of similar scale but different strengths. Tipico is the market leader in Germany and active in Austria, recently expanding by acquiring Admiral in September 2025. It generated about €1.3bn in 2024 revenue and operates more than 1,250 betting shops in Germany and Austria with an omnichannel model. Betclic is a largely digital player with leading positions in France, Portugal, Poland and Côte d’Ivoire, bringing in €1.4bn in 2024 revenue.
Betclic will divest its 53.9% stake in Germany’s bet-at-home.com AG. According to Die Zeit, the sale of Tipico marks a significant step for CVC, which first invested in the bookmaker in 2016 when it was valued at around €1.4bn. Banijay, meanwhile, is best known in television for owning Endemol Shine, the outfit behind Big Brother, and has been expanding into live events and gaming to balance its portfolio.
In announcing the deal, Banijay’s top brass struck an expansive tone. Stéphane Courbit, president of Lov Group Invest, said: “Banijay Group’s story is one of sustained growth and expansion – uniting entrepreneurs, talent and expertise across industries to build champions. The addition of Tipico marks another decisive step in that journey and reinforces our position as a driving force in the European sports betting and gaming landscape. This is a strong move that reflects our ambition and long-term vision.”
Tipico’s leadership echoed the case for scale. “Joining forces with Betclic represents a pivotal milestone in Tipico’s growth journey,” said Axel Hefer. “This partnership provides the scale and resources to accelerate product innovation, make bold investments in technology and set new standards for our customers.”
Regulatory, social and market backdrop
Online gambling in Germany is regulated under the Interstate Treaty on Gambling, which provides the legal framework for licensing online sports betting, poker and virtual slots at the federal level, while leaving table games and casino operations largely to the discretion of individual states. Die Zeit notes that German courts have, in some cases, sided with customers seeking to reclaim pre-2020 stakes, though Tipico, based in Malta, could in principle invoke Maltese legislation that limits the enforcement of foreign court rulings in gambling disputes.
Amid that patchwork of national and state rules, Banijay stresses it will operate “exclusively in locally regulated markets” and maintain “the highest standards of player protection, integrity and responsible gaming,” uniting what it calls “strong local champions across key markets.”
It remains unclear what the deal will mean for Tipico’s regulatory status, including whether it will keep its licences in Malta or Germany. For now, those looking for an overview of licensed operators can consult CasinoBee.
What isn’t changing, at least for now, is Tipico’s brand presence. Banijay says Betclic and Tipico will “continue to operate with their own governance and autonomous management teams and will preserve their unique brands and their proprietary platforms,” while sharing best practices and pushing a “seamlessly integrated, multi-channel offering.”
