Banijay’s online betting and gaming business kept growing in 2025, with sportsbook still doing the heavy lifting while casino and poker added extra pace.
Gaming Division Keeps Momentum Despite Tougher Backdrop
Banijay Group’s online betting and gaming division pulled in €1.59bn in revenue in 2025, up 10.2% year-on-year, giving the company another strong reminder that its gambling business is now one of the main engines behind the wider group.
That growth came without the usual boost of a major international football tournament and in the face of higher betting taxes in France, which kicked in during July 2025. Even so, adjusted EBITDA for the division climbed 12.6% to €425.2m, while margin improved to 26.7%.
Across the full group, Banijay posted €4.88bn in revenue for 2025, up 3.4%, while adjusted EBITDA rose 8.6% to €961.1m.
CEO François Riahi said the company delivered a strong performance in a year shaped by a softer sports calendar and a tougher production environment, adding that the group’s spread across media, live entertainment and gaming helped keep growth on track.
Sportsbook Stays on Top
Sportsbook remained the biggest contributor inside Banijay’s gaming arm, generating €1.21bn in revenue, up 6.8% from the previous year.
The company said betting activity held up well across domestic football and major club competitions, despite some unfavourable sports results. For the average online bettor, that points to a customer base still staking regularly even when the fixture list is not packed with tentpole events.
Banijay also credited product updates for helping keep players active. During 2025, it rolled out the ninth version of its sportsbook app, adding new betting features, broader markets and better personalisation tools.
By the end of the year, the group said its sportsbook app was the most downloaded betting app across all of its markets.
Casino and Poker Add Extra Punch
Casino was one of the sharper growth stories in the portfolio. Revenue from the vertical rose 17.4% to €249.3m, helped by a strong showing in Portugal and the launch of casino operations in Côte d’Ivoire.
Banijay added 280 new casino titles during the year, with about 20% of them classed as proprietary or exclusive content. It also refreshed the casino app with a redesigned interface, stronger recommendations and extra management tools aimed at retention and spend.
Poker turned in the fastest growth rate of the lot. Revenue jumped 36.5% to €105.8m after the launch of a new in-house poker platform at the end of 2024.
The company said player engagement improved after the platform upgrade, with poker users increasing 1.5 times following the launch of progressive knockout tournaments.
Turf betting was smaller in scale but still moved the right way, with revenue up 17.7% to €24.3m.
More Players, More Cross-Sell, Better Margins
Banijay said unique active players across its betting and gaming platforms rose 23% in 2025.
That matters because it suggests growth was not just driven by existing customers spending more. More people were using the products, and more of them were moving between verticals. Cross-selling between sportsbook, casino and poker accounted for around 35% of customer activity.
That kind of mix is useful for any operator. If one product cools off, another can pick up the slack. For players, it usually means a tighter ecosystem with more nudges to try casino or poker after logging in for sports.
Tipico Deal Gives Banijay a Bigger European Footprint
Away from the numbers, Banijay spent 2025 reshaping the business.
The group announced the acquisition of a majority stake in Tipico Sportwetten, with plans to merge it with Betclic once the deal closes in the coming months. The transaction is expected to give Banijay much more scale across regulated European markets and cement its place among the continent’s larger sports betting operators.
Banijay said the combined business will deepen its reach in Germany, France, Portugal, Austria, Poland and Côte d’Ivoire.
Wider Media Push Adds to 2026 Momentum
The company also moved this week to complete an agreement with RedBird IMI to combine Banijay Entertainment and All3Media in a 50:50 joint venture.
That deal sits outside the gambling unit, but it adds to the picture of a company pushing for more scale on multiple fronts at once.
Riahi said the Tipico acquisition was a transformative moment for the group, while the All3Media tie-up would strengthen Banijay’s reach with streaming platforms and support wider IP monetisation.
He added that Banijay is entering 2026 with confidence and will present updated strategy and mid-term financial guidance at its Strategic Update on 26 March.
Market Likes the Direction of Travel
Investors appear to be warming to the story. Banijay’s share price has risen more than 2% over the past 12 months to €8.35, easing the longer slide seen since its 2021 IPO. The group’s market capitalisation now sits above €3.5bn.
Taken together, the 2025 results show a gaming division still expanding at a healthy clip, with sportsbook providing the base and casino and poker adding faster growth on top. With Tipico set to join the fold, Banijay looks keen to make sure this is not just a decent year, but the start of a bigger run.
