Banijay Gaming has agreed to buy JOA, the second-largest casino operator in France, adding 33 land-based venues to a portfolio that already runs the online brands Betclic and Tipico. The company is buying JOA from funds managed by Blackstone and Kings Park Capital under a put option agreement.
JOA operates a nationwide network of 33 casinos and generated around €430 million in gross revenues in 2025. Its venues pair gaming floors with restaurants, bars and other leisure offerings, and draw more than 4.6 million customers a year.
The deal moves Banijay Gaming further into physical gaming, months after it completed its largest online purchase. Banijay Group closed the acquisition of Tipico Group on 23 April 2026, a transaction that combined the German sports betting operator with Betclic under the Banijay Gaming umbrella. Banijay Group holds 65% of Banijay Gaming, alongside the Tipico and Betclic founders and CVC, and has said it intends to raise that stake to at least 72% over time through call options.
Why a land-based operator
Buying JOA gives Banijay Gaming a retail footprint to sit alongside its online betting and gaming brands. The logic is the same one behind several recent European deals: operators that grew up online are acquiring physical assets, and retail-heavy groups are adding digital, so a single company can reach customers through both channels.
Nicolas Béraud, Chairman of Banijay Gaming and the former chief executive of Betclic, framed the purchase as a response to changing customer behaviour.
Customers increasingly expect seamless experiences across digital and physical environments, and this transaction positions us perfectly to respond to that evolution. We look forward to supporting JOA’s next phase of development by bringing our expertise in technology, artificial intelligence and data, while preserving the entrepreneurial culture and operational excellence that have made the company successful.
Laurent Lassiaz, Chairman of JOA, will stay on to lead the business with the existing management team, which the companies said should give continuity to employees, customers and local stakeholders.
Joining Banijay Gaming marks an exciting new chapter for JOA. After a successful period with Blackstone and Kings Park Capital, which laid the foundations for our growth, we have found another long-term partner with whom we share a common vision for the future.
Fits a wider consolidation trend
The purchase lands in an active period for European gaming M&A. In June, Bally’s Intralot agreed a £243 million all-share takeover of Evoke, and Allwyn earlier completed its OPAP merger and listed in Athens, another combination of retail and digital gaming under one owner. Banijay Gaming’s move to pair Betclic and Tipico with a large French casino chain follows the same pattern of scale and channel diversification.
Both companies said responsible gaming stays central to the plan, with a shared commitment to player protection and sharing of standards across the enlarged group.
What happens next
Completion is expected in the second half of 2026. Before it can close, the deal needs consultation with JOA’s employee representatives and a set of regulatory clearances, including merger control and casino gaming approvals. Those casino approvals will test how French authorities view an online-led operator taking control of a major land-based network, and the outcome will shape how far Banijay Gaming can push the same model in France and beyond.
Source: Banijay Gaming
