Banijay buys CVC's Tipico stake, pushes latter's value to €4.6bn

• Banijay secures Tipico stake purchase, pushing the latter’s valuation to €4.6bn
• The purchase will also lead to the creation of a brand-new entity, Banijay Gaming, reuniting Betclic and Tipico under the same roof
• The deal is set to close by mid-2026

Banijay, the parent company behind the Betclic betting and gaming brand, has executed the latest large-scale merger-and-acquisition deal in the iGaming market in Europe, securing a stake in Tipico, a German gambling major.

A new gambling industry heavyweight is set to emerge in Europe

Buying the majority stake from CVC, a private equity group, Banijay has not only expanded its own reach in the gambling industry but also boosted Tipico’s valuation to €4.6bn by one estimate. Betclic is valued at €4.8bn in the wake of the announcement this week.

The deal will come with a major upheaval of Banijay’s gaming business, which will see the creation of a new entity – Banijay Gaming. Banijay is said to finance the transaction with a €3bn package, which will also include refinancing the firm’s existing debt.

Banijay Gaming will reunite both Tipico and Betclic, which the company already owns, creating a new European heavyweight that will overtake Italy’s Lottomatica in terms of revenue.

Tipico and Betclic can remain present as independent brands with established identity and reach; however, details about what the restructured business would look like are still forthcoming.

The two brands operate in six regulated markets, including Germany and Austria, but also France, Portugal, Poland, and Côte d’Ivoire. Their combined retail properties number 1,250 betting shops in Germany and Austria, with a workforce of over 5,300 people.

Banijay is confident about the closure of the deal

Banijay will also hold a 65% stake in the new company, but a further extension of its ownership to 72% is possible with CVC taking a minority stake.

This aligns with CVC’s own plans for the Tipico brand as noted by Daniel Pindur, the firm’s Managing Partner, who told Reuters: "From the outset, we were confident that there would ultimately be a strategic buyer for Tipico. Betclic was by far our preferred partner," with the deal now set to close by mid-2026 and clearing all customary and regulatory hurdles.

Banijay similarly expects to generate €100m in annual cost benefits within three years of finalizing the deal.

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