Banijay makes major move
Betclic parent Banijay Group NV has announced the acquisition of Tipico for approximately €4.6bn ($5.3bn) after gaining a controlling stake in Germany’s market-leading offline and online sportsbook.
financing package of approximately €3bn
In a Tuesday press release, Banijay stated that the transaction will be backed by a financing package of approximately €3bn ($3.4bn), which includes the refinancing of Tipico’s existing debt.
The acquisition represents the Paris-based global entertainment leader’s largest since it went public in Amsterdam in 2022 and gives Banijay a controlling 65% stake in the new entity, rising to “a minimum” of 72%.
Founders and shareholders of Betclic, Tipico, and the latter’s former parent, CVC Capital Partners, will remain invested in the French brand’s new betting and gaming arm as minority shareholders.
Tipico CEO Axel Hefer said the Banijay acquisition was “the deal we have been working towards” after acquiring Admiral Austria and selling its US business to refocus and expand its European operations.
European powerhouse
Banijay founder Stéphane Courbit stated in a press release that the Tipico move reflects his firm’s ambition and long-term vision. Courbit added that the acquisition reinforced Banijay’s position as “a driving force in the European sports betting and gaming landscape.”
Banijay will regroup its own French market-leading online sportsbook Betclic, along with Tipico and the German brand’s recent acquisition, Admiral, under Banijay Gaming. With the combination of Betclic, Tipico, and Admiral, Banijay’s newly positioned gaming and betting arm now has access to fully regulated markets in Germany, France, Portugal, Austria, Poland, and Côte d’Ivoire.
The consolidated brands, according to the release, position Banijay Gaming as the fourth largest European sports betting and gaming brand, and the number one in Continental Europe.
deep commitment to sustainable, regulated entertainment”
Betclic founder Nicolas Béraud, who will become Banijay Gaming’s Chairman, stated in the release that the consolidated brand is pushing to become Europe’s new market leader by combining “scale with innovation, and a deep commitment to sustainable, regulated entertainment.”
CVC Capital Partners Managing Partner Daniel Pindur echoed similar sentiments, saying that the Tipico/Betclic consolidation unites “two market leaders with complementary strengths to create a European champion.”
Revenue to double
The biggest deal in Banijay’s history isn’t just transformative for the company; it will also double its sports betting and online gaming revenue.
Taken together on a pro forma basis for 2024, Betclic, Tipico, and Admiral generated €3.0bn ($3.4bn) in revenues, €854m ($993m) in adjusted Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) and €716m ($832m) in adjusted free cash flow.
The acquisition will boost Banijay’s 2024 revenue to €6.4bn ($7.4bn) and its adjusted EBITDA to €1.4bn ($1.6bn) on a pro forma basis.
