Banijay’s gaming focus
Gaming will play a central role in the new structure, accounting for more than half of group EBITDA, driven by the integration of Tipico.
The business will merge its Betclic brand, which is one of the most well-known in its home country, with Germany’s Tipico, establishing a firm that is set to generate over €3bn in revenue.
Banijay expects strong growth across both core divisions – Banijay Gaming and Banijay Entertainment – through 2029.
The gaming business is forecast to grow at around 10% annually, while the entertainment segment is expected to deliver steady mid-single-digit growth. Overall, the group is targeting more than 7% annual EBITDA growth, alongside double-digit earnings per share growth.
The strategy reflects a broader shift toward combining content and betting, allowing Banijay to monetise its intellectual property across multiple channels, including digital and live experiences.
A recent media expansion
Tipico expects to generate around €100m in synergies over time, while the All3Media combination is expected to add a further €50m within the first year after completion.
The latter deal was only announced at the start of this month – just days before it released its full annual results.
Banijay and RedBird IMI have agreed to merge the London-headquartered business with Banijay Entertainment in a 50:50 joint venture.
This is set to create one of the world’s largest independent content producers, as seen by the figures it would have hypothetically produced in 2024. On a pro forma basis, the combined group would have generated more than €4.4bn in revenue and €690m in adjusted EBITDA.
Alongside growth, the group is signalling a focus on shareholder returns, planning to increase dividends progressively over the next four years.
It also intends to pay a €400m exceptional dividend following completion of the All3Media deal, subject to shareholder approval.
Looking ahead, Banijay’s strategy is centred on three priorities – organic growth, unlocking synergies across its expanded business and selective acquisitions. The company also plans to invest in AI and technology to drive product innovation and improve user engagement.
Plans in a heavily regulated jurisdiction
Banijay said its 2026 guidance is broadly in line with its longer-term targets, with mid-to-high single-digit EBITDA growth expected, although this will be slightly lower after the impact of tax increases in France.
Retail sports betting in France has increased to 42.1%, online sports betting from 54.9% to 59.3% and online poker is now taxed at 10% of GGR (up from 0.2% of stakes).
There has also been talks of regulating online casino, which would also presumably be heavily taxed.
Revenue rose 10% to €1.59bn for Banijay in 2025 and, whilst still an eye-watering figure compared to some, it still has a way to go to reach the 11 digit mark, particularly with the headwinds.
However, now integrating Tipico and All3Media, it has further diversified and believes it is now in a better position to navigate the constantly-changing industry to deliver growth over the next few years.
Dingnews.com 26/03/2026