Banijay Group has offered a closer look at its strategy after a year shaped by major deals. The Banijay Tipico acquisition is a key part of its move into betting and gaming. With that in place, the group is setting out its growth plan through to 2029.

• Banijay said the addition of Tipico and the planned All3Media combination will reshape how the business is structured. On a proforma basis, the enlarged group would generate around RUR 7.4bn in revenue and EUR 1.6bn in adjusted EBITDA. Free cash flow is expected to come in at roughly EUR 1.2bn based on 2025 figures.
• The Banijay Tipico acquisition gives the group more weight in regulated European betting markets while gaming is expected to account for about 55% of adjusted EBITDA, excluding synergies. Over time, the deal is also projected to bring in around EUR 100m in synergies.
• In terms of growth, Banijay is targeting adjusted EBITDA to increase by more than 7% annually through to 2029. The gaming division is expected to grow faster, at close to 10% per year. Earnings per share are also forecast to rise at a double-digit pace.
• Cash remains a central part of the story while the group expects free cash flow conversion above 80% and is aiming to reduce leverage to around 2x by 2029. It has also pointed to a possible EUR 400m exceptional dividend once the All3Media deal is completed, subject to shareholder approval.
• CEO François Riahi said: “We are moving to a stronger, more powerful and cash-generative platform.” He added that Banijay sees a route to roughly EUR 10bn in revenue by 2029 through organic growth alone. The plan includes expanding further in betting and gaming while continuing to build out content and live experiences.

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