Banijay has completed the sale of its 53.9% stake in bet-at-home, effective Friday, January 2, 2026, marking the final step in the French multinational’s strategic realignment of its gaming assets.
The sale of the German-facing betting operator, previously owned through Banijay’s Betclic subsidiary, forms part of the company’s acquisition of Tipico announced in October 2025. Following the transaction, Banijay CEO François Riahi and CFO Véronique Giraudon resigned from their positions on the bet-at-home board.
Strategic Consolidation
The divestment follows Banijay’s agreement to combine Betclic and Tipico, with Banijay becoming the majority shareholder of the newly formed entity. The French company, primarily recognized as a television production and distribution business, valued the deal at €9.4 billion combined enterprise value.
“As presented during our Capital Markets Day, Banijay Group is a natural consolidator in the field of entertainment and is able to seize opportunities to expand and to create value,” Riahi said when announcing the Tipico deal. “Tipico fits perfectly well in this strategy and is in line with our DNA: strong leader in two important markets, fully regulated, product focused, highly profitable, providing us – in the sports betting business – with the reach, the scale and the diversification that already make the strength of our content business.”
Deal Structure and Financial Performance
The merger valued Betclic at an enterprise value of €4.8 billion and Tipico at €4.6 billion. The combined entity projected €6.4 billion in revenue and €1.4 billion in adjusted EBITDA for 2024.
“I am particularly pleased to see that Tipico founders have decided to partner with us to build a new European leader in the sports betting business, rolling over all their stake in Tipico into Banijay Gaming, which is fully consistent with our DNA to gather strong entrepreneurs for the long term and a testimony to their trust in the future value creation,” Riahi added.
bet-at-home’s Regulatory Challenges
The sale follows a period of legal difficulties for bet-at-home, including the operator’s withdrawal from the Austrian market after losing a significant player claims case. These regulatory issues contributed to Banijay’s strategic decision to divest its stake in the operator while consolidating its position through the Tipico combination.
News of Banijay’s intention to sell bet-at-home first emerged in November 2024, when the company began exploring strategic options for the German-facing operator.
The transaction positions Banijay Gaming as a major player in the European sports betting sector, combining Betclic’s French market strength with Tipico’s presence in Germany and other regulated markets.
Source: NEXT.io
