Banijay Gaming to acquire Groupe JOA and its 33 French casinos

Banijay Gaming has announced an agreement to acquire Groupe JOA, one of France’s leading casino operators, in a transaction that would significantly expand its presence in the country's land-based gaming market. The proposed deal represents another major step in the company's strategy to build a diversified gaming business that combines digital and retail gambling operations across key European jurisdictions.

Under the agreement, Banijay Gaming will acquire Groupe JOA through a transaction involving funds managed by Blackstone and Kings Park Capital. Once completed, the acquisition would add JOA’s network of 33 land-based casinos to Banijay Gaming’s growing portfolio.

The transaction remains subject to customary conditions including consultations with employee representatives, merger control approval and authorization from relevant French gaming authorities. Completion is currently expected during the second half of 2026.

The planned acquisition follows a period of rapid expansion for Banijay Gaming and reflects the company's ambition to strengthen its position within both digital and physical gaming channels.

A strategic step in Banijay Gaming’s growth plans

The acquisition of Groupe JOA follows Banijay Gaming’s recent expansion initiatives in the European gambling sector. Earlier in 2026, Banijay completed the acquisition of Tipico and integrated the business with Betclic, creating a larger gaming operation with a broad geographic footprint.

The company previously indicated that the combined operations would have generated approximately €7.4 billion in revenue, €1.6 billion in adjusted EBITDA and €1.2 billion in adjusted free cash flow on a pro forma basis during 2025.

Adding Groupe JOA to the portfolio further diversifies Banijay Gaming’s operations. The casino operator welcomed approximately 4.6 million visitors during 2025 and generated around €430 million in gross gaming revenue.

Industry observers may view the transaction as part of a wider trend toward consolidation within the European gaming sector, where operators continue to pursue scale, operational efficiencies and broader customer engagement opportunities.

Building an omnichannel gaming model

One of the most significant aspects of the transaction is the combination of online and land-based gaming capabilities.

Banijay Gaming has repeatedly emphasized its intention to create a comprehensive omnichannel offering that allows customers to engage with gaming products across both digital and physical environments. Through the acquisition of Groupe JOA, the company gains access to an extensive nationwide casino network while maintaining its existing online operations.

According to Banijay Gaming, the acquisition supports its objective of developing a diversified European gaming business capable of serving customers through multiple channels.

Nicolas Béraud, Chairman of Banijay Gaming, said:

“Customers increasingly expect seamless experiences across digital and physical environments and this transaction positions us perfectly to respond to that evolution. We look forward to supporting JOA’s next phase of development by bringing our expertise in technology, artificial intelligence and data, while preserving the entrepreneurial culture and operational excellence that have made the company successful.”

The statement highlights the growing importance of technology and data-driven operations within the modern gaming industry, where operators increasingly focus on customer experience, personalization and operational efficiency.

Leadership views on the acquisition

Banijay Group leadership has presented the transaction as a natural continuation of the company’s broader development strategy.

Group Chief Executive Officer François Riahi commented:

“The acquisition of Tipico has transformed us into a diversified omnichannel European leader in gaming and the acquisition of JOA is fully relevant to this evolution. As in Germany and Austria, we will become a leader in land-based gaming in another of our core countries: France.”

The remarks underline the strategic significance of France within Banijay’s long-term plans. France remains one of Europe’s largest regulated gambling markets and continues to attract significant interest from major industry participants.

The acquisition would also strengthen Banijay Gaming’s position in a jurisdiction where consumer demand for both traditional and digital gaming experiences remains substantial.

Potential implications for the French casino market

The transaction may have broader implications for the competitive landscape of the French casino sector.

Groupe JOA is widely recognized as one of France’s largest casino operators. In terms of revenue, it ranks behind Groupe Barrière while maintaining one of the largest casino networks in the country.

Other major participants include Groupe Partouche, which operates numerous venues across France and Belgium and Groupe Barrière, which maintains a strong presence in several key French markets.

The arrival of Banijay Gaming as the future owner of Groupe JOA could contribute to evolving discussions regarding the future structure of the French gambling market. Industry stakeholders continue to monitor policy developments related to online casino regulation in France.

Although previous proposals regarding online casino regulation were postponed, market participants continue to assess how future regulatory decisions could affect both online operators and land-based casino businesses.

While it would be premature to predict regulatory outcomes, the combination of a major digital gaming operator with a substantial retail casino network introduces an additional dimension to ongoing industry discussions.

Continuity for Groupe JOA

A notable aspect of the transaction is Banijay Gaming’s intention to maintain continuity within Groupe JOA’s leadership structure.

The company has confirmed that Laurent Lassiaz will remain Chairman alongside the existing management team following completion of the acquisition.

This approach may help ensure operational stability during the transition period while allowing the organization to continue executing its established business strategy.

Commenting on the agreement, Laurent Lassiaz said:

“Joining Banijay Gaming marks an exciting new chapter for JOA. After a successful period with Blackstone and Kings Park Capital, which laid the foundations for our growth, we have found another long-term partner with whom we share a common vision for the future.”

The statement reflects confidence in the future direction of the business and suggests a shared commitment to long-term development.

Financial performance supports expansion strategy

The acquisition announcement comes during a period of positive financial performance for Banijay Group.

The Amsterdam-listed company reported first-quarter revenue of €1.15 billion, representing year-on-year growth of 9 percent. Adjusted EBITDA increased by 5.4 percent to €196.6 million while adjusted net income rose by 18.1 percent to €56.9 million.

The group’s entertainment division generated revenue of €714.5 million, reflecting continued strength in its core media activities.

Meanwhile, revenue from Banijay Gaming increased by 14.4 percent to €326 million following the consolidation of gaming operations.

The company attributed growth to sustained customer engagement across its gaming portfolio. It also reported strong performances in casino, poker and horse-racing betting products.

Additional growth was supported by the launch of a new online poker platform in France and the introduction of an online casino offering in Côte d’Ivoire during 2025.

Outlook for Banijay Gaming

As the gaming industry continues to evolve, operators increasingly seek to balance digital innovation with established retail operations. Banijay Gaming’s planned acquisition of Groupe JOA reflects this broader industry trend and demonstrates the company’s commitment to building a diversified presence across multiple channels.

If completed as expected, the transaction would establish Banijay Gaming as a more significant participant in the French gaming market while expanding its reach across both online and land-based sectors.

The deal also highlights the growing importance of scale, technology integration and omnichannel customer engagement in the future development of the European gaming industry.

Conclusion

The proposed acquisition of Groupe JOA represents another significant milestone in the development of Banijay Gaming. By adding one of France’s largest casino operators to its portfolio, the company would substantially strengthen its position in a key European market while enhancing its ability to serve customers across both digital and retail channels.

The transaction also illustrates the continuing evolution of the European gaming industry, where leading operators are increasingly pursuing diversified business models that combine technology, customer data and physical venue networks. Such strategies are becoming an important differentiator as consumer expectations continue to evolve.

Subject to regulatory approvals and completion requirements, the acquisition has the potential to reshape parts of the French gaming landscape. While the long-term impact will become clearer over time, the agreement reinforces Banijay Gaming’s ambition to establish itself as a major omnichannel gaming operator with a growing presence across Europe.

FAQs

What is Banijay Gaming acquiring?
Banijay Gaming has agreed to acquire Groupe JOA, one of France’s largest casino operators with a network of 33 land-based casinos.

When is the transaction expected to close?
The acquisition is expected to be completed during the second half of 2026, subject to regulatory approvals and other customary conditions.

Who currently owns Groupe JOA?
Before the proposed acquisition, Groupe JOA is owned through funds managed by Blackstone and Kings Park Capital.

How many casinos does Groupe JOA operate?
Groupe JOA operates 33 land-based casino venues across France.

Why is the acquisition important for Banijay Gaming?
The transaction strengthens Banijay Gaming’s land-based presence and supports its strategy of creating an omnichannel gaming business.

Will Groupe JOA management remain after the acquisition?
Yes. Banijay Gaming has stated that Laurent Lassiaz and the existing management team are expected to remain in place after completion.

What is omnichannel gaming?
Omnichannel gaming refers to a model that integrates digital and physical gaming experiences, allowing customers to interact across multiple channels.

How many visitors did Groupe JOA attract in 2025?
The company reported approximately 4.6 million visitors across its casino network during 2025.

What recent acquisitions has Banijay Gaming completed?
Earlier in 2026, Banijay Gaming completed the acquisition of Tipico and integrated it with Betclic.

Could the deal affect the French gambling market?
Industry observers believe the acquisition could influence competitive dynamics within the French gaming sector, although future market developments will depend on several commercial and regulatory factors.