Banijay sells full stake in bet-at-home to accelerate Tipico enlargement 

Banijay Group has completed the sale of its majority stake in bet-at-home AG, as the Amsterdam EuroNext Plc sharpens focus on the development of its new Banijay Gaming unit formed by the merger of Betclic and Tipico Sportwetten.

On 2 January, Banijay informed markets that it had finalised the divestment of its 53.9% controlling stake in bet-at-home AG, closing a chapter that began in 2009, when the stake was first acquired by Everest Gaming, the former subsidiary of Banijay Group.

The sale completes a key condition of Banijay’s landmark October 2025 transaction with CVC Capital Partners, under which Banijay acquired a 65% majority stake in Tipico Group via an initial €3bn in cash reward. 

The deal saw Banijay take control of the German market’s largest gambling brand, Tipico, valued at €4.6bn, which will be merged with France’s Betclic sportsbook (valued at around €4.8bn) to form a new European igaming powerhouse under the Banijay Gaming banner.

Ending its investment in bet-at-home, Banijay Gaming will maintain a presence in the German market through Tipico’s extensive retail and online networks, while continuing to leverage Betclic’s dominant position across France and Southern Europe.

The new Banijay Gaming unit is expected to formally launch in the second half of 2026, pending the final regulatory approvals in France and Germany. Both country’s national gambling authorities are assessing the merger’s implications on market competition.

Banijay’s investment in bet-at-home had been under review since 2022, following the public listing of FL Entertainment, Banijay’s former corporate parent. At that time, analysts widely described bet-at-home as a non-core, low-growth asset within Banijay’s expanding entertainment and gaming ecosystem.

Bet-at-home has faced mounting challenges following severe regulatory tightening in Germany and its forced exit from Austria, which have curtailed growth prospects and customer activity. 

The company has reported consecutive operating losses in 2023 (€-2.2m) and 2024 (€-4.5m), with stagnant income and EBITDA despite restructuring measures.

Following completion, Banijay CEO François Riahim and Betclic CFO Véronique Giraudon resigned from bet-at-home’s supervisory board, concluding the group’s governance involvement.

Banijay has confirmed that its strategic focus in 2026 will centre on scaling Banijay Gaming across Europe, integrating the combined Betclic–Tipico platforms with its media, sports, and entertainment assets to build a unified gaming ecosystem spanning regulated markets in Germany, France, Italy, Portugal, and beyond.