Banijay to Transform European Gaming with Tipico Acquisition

French media giant Banijay is poised to acquire a majority stake in the betting firm Tipico from private equity group CVC, marking a major expansion in the online gaming sector. This move positions Banijay as one of Europe's largest operators in the industry.

The acquisition, which appraises Tipico at 4.6 billion euros, will see it amalgamate with Betclic, under the new banner of Banijay Gaming, commanding a major share of the sports betting market in continental Europe.

Banijay anticipates the acquisition to generate annual cost savings of 100 million euros within the next three years. Shares in Banijay rose by 6.6% following the announcement, reflecting positive market response.