Acquisition creates one of the largest sports betting and gaming operators in Europe with leading positions in six key markets

Banijay Group has completed its acquisition of Tipico Group to create a new European sports betting and gaming powerhouse.

Following an initial agreement last October, completion of the deal brings together three brands – Betclic, Tipico and Admiral – with a strong presence in Germany, France, Portugal, Austria, Poland and Côte d’Ivoire. 

The acquisition gives Banijay Group a majority 65 per cent stake in the newly enlarged Banijay Gaming entity, alongside Tipico and Betclic founders and CVC Capital Partners.

Banijay intends to increase its stake progressively over the coming years to at least 72 per cent through call options 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.

Under the new governance structure, former Betclic CEO Nicolas Béraud will serve as chairman of Banijay Gaming, while Lov Group Invest continues as president. 

Former Tipico chairman Joachim Baca will serve as Banijay Gaming vice chairman, with Betclic chief operating officer (COO) Julien Brun succeeding Béraud as Betclic CEO.

“With this combination, Banijay Gaming becomes a truly scaled European platform, with enhanced diversification and increased exposure to large, fully regulated markets,” said Béraud. “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. On a pro forma basis, revenue would have reached €3.1 billion in 2025, generating adjusted EBITDA of €0.9 billion and €0.7 billion in adjusted free cash flow.

Tipico will now be led by Mate Bacic as CEO, succeeding Axel Hefer, who is leaving the business at his own request now that the transaction has completed.

Bacic has been with the operator for nearly a decade and most recently served as CEO of Tipico Austria and Admiral Austria. Prior to that he was Tipico COO and was instrumental in establishing and restructuring the brick-and-mortar retail network, which now comprises more than 1,250 shops in Germany and Austria.

“I am very pleased to lead Tipico through this crucial phase,” said Bacic. “We have a strong brand, a highly dedicated team, and reliable partners at our side. Together with Banijay, we will accelerate innovation, invest in technology, and set new standards in service. We want to offer sports betting fans the best and safest experience – online as well as in our more than 1,250 shops. I would also like to thank Axel for his trustworthy collaboration and his significant contribution to Tipico’s excellent positioning for the future.”

Commenting on his departure, Hefer said: “I joined the Tipico Group almost three years ago with a clear goal: to set the course for future international growth. With the sale to the Banijay Group, my work has been successfully completed. I am convinced that with Mate Bacic at the helm and as part of Banijay Gaming, the company is excellently positioned for the future. I wish Mate and the entire team every success for the years to come. At the same time, I thank all my colleagues for their trust and excellent cooperation.”

Shares in Banijay Group NV (AMS:BNJ) were trading 0.71 per cent lower at €8.40 per share in Amsterdam earlier Friday.