Betclic and Tipico owner Banijay Group’s plans for betting and media dominance in western continental Europe appear on track according to a breakdown of its Q1 2026 performance.
The Amsterdam-listed enterprise reported group-wide revenue growth of 9% to €1.15bn (£998m), up from €1m in Q1 2025, while adjusted EBITDA was up 5.4% to €196.6m (£186m) and adjusted net income was up 18.1% to €56.9m.
Banijay’s entertainment division generated the largest revenue figure for the group, coming in at 4.5% growth to €714.5m. However, its growth rate of 4.5% year-over-year was greatly outpaced by the group’s betting operations.
Betting and gaming revenue, which for the entirety of Q1 would have consisted solely of the Betclic online sportsbook, saw revenue growth of 14.4% to €326m.
The firm attributed this to sustained player engagement, and expected greater returns had it not been for ‘adverse sports results’ in international and national football competitions.
Revenue from casino, poker and turf was up 27%. The firm has attributed the success of its iGaming operations to the launch of its new online poker platform in France and the launch of an online casino in Côte d’Ivoire in early 2025.
François Riahi, Chief Executive Officer of Banijay Group, said: “We are enjoying a solid start to 2026, supported by strong momentum across our sports betting and gaming and live activities, as we look ahead to a year marked by major sporting events, important strategic developments and transformative M&A.”
Tipico M&A sets Banijay up for EU growth
The ‘transformative M&A” Riahi refers to is of course the acquisition of Tipico, the Malta-based, DACH market focused online sportsbook, and the largest betting and gaming operator in Germany.
Banijay secured terms to acquire Tipico last year, helping finance the deal by selling its shares in bet-at-home – another DACH focused sportsbook, but one which has been facing difficulties in recent years as it struggles to deal with German and Austrian taxes.
Acquiring Tipico last year, with the integration completed towards the end of April 2026, is turning Banijay into one of the biggest betting and gaming companies in continental Europe – albeit with a high profile in two markets with hefty tax exposures.
France in particular has some heavy tax burdens. The country imposed a new tax regime last summer with a 59.3% rate on online sports betting gross gaming revenue (GGR), 42.1% rate on retail sports betting GGR, a 69% rate on lottery GGR, and a 10% rate on online poker GGR.
However, this does not mean the market is lacking in prospects. French authorities have been mulling over allowing online casino operations, though concerns raised by the land-based gaming sector as well as health and charity organisations meant that these ambitions have been stalled.
Against this backdrop, Banijay leadership remains confident in the continued growth of its sports betting and gaming divisions, citing product innovation and a 20% increase in unique active players – described by Riahi as “the key commercial KPI”.
“This demonstrates the strength of our product and customer proposition, and we are well positioned ahead of this summer’s FIFA World Cup,” the CEO remarked.
Following the completion of the Tipico takeover, Banijay is also pressing ahead with M&A ambitions in its entertainment division. The firm is already a major player in this space, producing popular reality shows like Big Brother and television programmes like Peaky Blinders.
Making predictions for the end of the year, Banijay expects adjusted EBITDA growth in either the mid-single-digit range or mid-to-high single digit growth. This figure excludes the impact of the betting tax increase in France.
Riahi concluded: “2026 also marks a transformative year for Banijay Group. Following the closing of the Tipico acquisition, we are also progressing well toward completing the combination of Banijay Entertainment with All3Media expected in the summer 2026.
“Together, these transactions will significantly strengthen our scale, international footprint and IP capabilities across content, live experiences and sports betting and gaming.
“These solid Q1 results allow us to confirm our 2026 guidance and remain focused on executing our strategy to deliver sustainable growth and value creation for shareholders.”