French media and entertainment group Banijay has struck a deal to buy a majority stake in sports betting operator Tipico from private-equity firm CVC Capital Partners, according to a report by Reuters.
The transaction values Tipico at €4.6bn ($5.4bn) and will bring the firm together with Banijay’s existing betting platform, Betclic, under a newly formed entity named Banijay Gaming, to create the highest earning sports betting company in continental Europe.
Under the agreement, Banijay will hold an initial 65% stake in the combined business, with the option to increase its ownership to 72%, while CVC retains a minority stake. The deal is expected to close by mid-2026, subject to regulatory approvals and other customary conditions, with CEO Francois Riahi confident that it will go through.
Banijay expects the deal will bring in €100m in annual cost benefits within three years.
