Banijay Bets Again on Gambling Business With Move for Casino Group JOA

By Joshua Kirby

Banijay Group said it agreed to acquire casino operator JOA, adding to the entertainment group's rapidly growing European gambling business after a recent multibillion-dollar deal to take a majority stake in sports-betting firm Tipico.

JOA is France's second-largest player in the sector, operating 33 casinos across the country, Banijay said in a release Monday. The company made around 430 million euros ($492 million) in revenue last year, Banijay said.

The acquisition, for an undisclosed sum from funds managed by Blackstone and Kings Park Capital, follows the majority takeover of Germany's Tipico Group in a deal, inked last year, that valued the company at some 4.6 billion euros, including debt. That move doubled the size of the gambling business of Amsterdam-listed Banijay, which is best known for its studio business behind TV shows like MasterChef and Big Brother. The group's sports-betting and gaming division booked a 17% on-year rise in revenue in the year's first quarter as interest grows in gambling, especially on online platforms and apps.

The latest signing adds the group's digital expertise to JOA's "wide network of land-based entertainment destinations," the company said.

"The acquisition of Tipico has transformed us into a diversified omnichannel European leader in gaming, and the acquisition of JOA is fully relevant with this evolution," Banijay Chief Executive Francois Riahi said.

JOA Chairman Laurent Lassiaz will stay on to lead the business alongside the existing management team, Banijay said. The deal, financed through a mix of equity and debt, should be completed before the end of the year, subject to employee consultation and approval from antitrust and gaming regulators, it said.

Write to Joshua Kirby at joshua.kirby@wsj.com; @joshualeokirby

(END) Dow Jones Newswires

July 06, 2026 07:58 ET (11:58 GMT)