Banijay Expands Its Frontiers: Majority Stake Purchase in Tipico

French media group Banijay has agreed to acquire a majority stake in betting firm Tipico from CVC, creating one of Europe's largest online gaming operators. The deal, with an enterprise value of 4.6 billion euros, combines Tipico with Banijay-owned Betclic under a new entity, Banijay Gaming.

French media giant Banijay has announced its plan to acquire a majority stake in the betting company Tipico from the private equity group CVC. This move is set to establish one of the largest online gaming operators in Europe, as stated by Banijay on Tuesday. The acquisition aligns with Banijay's strategy to diversify and expand its influence beyond traditional television.

The acquisition assigns Tipico an enterprise value running into 4.6 billion euros, equivalent to 5.4 billion U.S. dollars. The transaction will integrate Tipico with Banijay's existing asset, Betclic, under the newly created entity, Banijay Gaming. This new venture will cater to 6.5 million players and manage over 1,250 betting outlets across the region. Banijay intends to initially have a 65% stake in this new company, with plans to increase its holdings to 72% through future call options.

While CVC will maintain a minority interest, the transaction, which enjoys 3 billion euros in financing, is slated for completion by mid-2026, according to Banijay's official statement. The transaction reflects the media group's commitment to expanding its footprint in the gaming and entertainment sectors.

(With inputs from agencies.)