Axel Hefer has stepped down as CEO of Tipico following the completion of Banijay Group’s €3bn acquisition of the omnichannel operator, reversing an earlier commitment to retain him in post.
A Reversal at the Top
Hefer joined Tipico in November 2023, initially as COO, before being promoted to CEO in June 2024. When Banijay Group announced the deal in October 2025 — agreeing to acquire an initial 65% stake in Tipico for up to €3bn (£2.6bn) — it was stated that Hefer would remain in the chief executive role. That plan changed when the transaction closed on 23 April.
Alongside his Tipico responsibilities, Hefer served concurrently as chair of German football club FC Schalke 04. Prior to joining Tipico, he spent seven years at comparison platform Trivago between May 2016 and December 2023, holding the roles of CFO, CEO, and a subsequent advisory position.
Hefer confirmed his departure on LinkedIn. In a statement, he said:
“Almost three years ago I set foot on the sunny island of Malta starting my journey at Tipico — a stranger to the industry — setting sails for international expansion and growth. Accompanied by an amazing team we have not only repositioned the business but also created a European champion through the merger with Banijay Group. With the closing of the transaction today my journey is coming to an end. Thanks to everybody who has made this an amazing experience. All the best to the whole Tipico and Banijay team.”
Leadership Structure After the Deal
Hefer’s successor as Tipico CEO is Mate Bacic, who previously served as CEO of both Tipico Austria and Admiral Austria, and held an earlier stint as Tipico COO.
The acquisition has prompted a broader reshaping of executive roles across the combined group. Former Betclic CEO Nicolas Béraud takes the chair of the board at Banijay Gaming, while Lov Group Invest — the personal holding company of French entrepreneur Stéphane Courbit — retains the presidency. Joachim Baca, previously chair and CEO of Tipico, moves to vice-chair of the Banijay Gaming board.
Julien Brun has been appointed Betclic CEO, having previously served as COO of the operator.
Deal Terms and Strategic Rationale
The agreement gives Banijay Group an initial 65% stake in Tipico, with an option to increase that holding to a minimum of 72%. The structure centres on Banijay’s Betclic brand combining with Tipico’s omnichannel presence in Germany and Austria.
Béraud said:
“With this combination, Banijay Gaming becomes a truly scaled European platform, with enhanced diversification and increased exposure to large, fully regulated markets. 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.”
Banijay has identified synergies of approximately €100m, comprising €70m in operational efficiencies and €30m in capital expenditure savings. The group said implementation will begin after the FIFA World Cup this summer.
In a statement, the company said: “The group is now positioned as the fourth largest European sports betting and gaming operator in revenue, and the leader in sports betting in continental Europe.”
Revenue Target and Market Position
Last month, Banijay Group projected that the Tipico acquisition would contribute to group revenue surpassing €10bn by 2029. The combined entity’s focus on fully regulated European markets — particularly the German and Austrian omnichannel segments — underpins that outlook, with Tipico’s retail and digital footprint in those jurisdictions seen as complementary to Betclic’s digital-first model.
The ATG CEO’s departure in Sweden this year — also prompted by corporate transformation — illustrates a pattern of senior leadership exits following major M&A events across European operators. Bacic’s appointment to lead Tipico marks the first major operational decision under the new ownership structure, with the boardroom reshuffle now complete ahead of the post-World Cup synergy programme.
Source: EGR Intel
