Banijay Gaming acquires JOA and accelerates its omnichannel strategy

The acquisition of a leading casino operator in France marks a new stage in Banijay Gaming's long-term growth strategy

• Banijay Gaming has committed to acquire JOA from funds managed by Blackstone and Kings Park Capital, under a put option agreement. This transaction marks another important step in its strategy to build a diversified European gaming leader, in line with changing consumer expectations.

• JOA is the second largest casino operator in France, with a national network of 33 casinos located throughout the country, generating approximately €430 million in gross gaming revenue in 2025. Its venues, which combine gaming, dining, bars and a wide range of leisure activities, welcome more than 4.6 million visitors each year.

• Following the acquisition of Tipico Group in April 2026, this transaction continues to strengthen Banijay Gaming's omnichannel strategy by combining its digital expertise with JOA's extensive network of entertainment venues.

• This transaction is part of a long-term value creation strategy: Banijay Gaming will support JOA's next phase of development in France and internationally.

• Responsible gaming remains at the heart of Banijay Gaming's strategy. Both groups will continue to raise industry standards while sharing best practices, in line with a shared commitment to player protection.

• Laurent Lassiaz, CEO of JOA, will continue to lead JOA alongside the current management team, ensuring continuity for the group's employees, customers and all local stakeholders.

• The completion of the transaction is expected in the second half of 2026, subject to consultation with JOA's employee representative bodies and obtaining standard regulatory approvals, notably clearance from the French Competition Authority (Autorité de la concurrence) and applicable regulatory approvals regarding casino operations.

Nicolas Béraud, Chairman of Banijay Gaming, stated : "Today, customers expect seamless journeys between digital and physical channels, and this transaction allows us to fully meet this expectation. We will leverage our expertise in technology, data and artificial intelligence to support JOA's development, while preserving the entrepreneurial culture and operational excellence that drive its strength and success.”

Laurent Lassiaz, CEO of JOA, commented : “Joining Banijay Gaming opens a new chapter for JOA. After a successful period of development alongside Blackstone and Kings Park Capital, which laid the foundations for our growth, we have found a new long-term partner with whom we share a common vision for the future. Their technological and digital expertise will allow us to accelerate our omnichannel development while preserving the entrepreneurial spirit and local roots that define our identity. Together, we will have new means to pursue our ambitions in France and internationally.”

François Riahi, CEO of Banijay Group, added: "The acquisition of Tipico made Banijay Gaming a diversified, omnichannel European gaming player. The arrival of JOA is fully in line with this momentum. Just as in Germany and Austria, we are now strengthening our presence in 'land-based' gaming in another of our key markets: France. We are delighted to welcome the JOA teams to Banijay Group, where they will find an entrepreneurial environment ideal for their development and value creation. This transaction also strengthens our presence in France, with teams and locations distributed across the entire country.”

Combining complementary expertise to shape the future of omnichannel gaming

The acquisition of JOA constitutes a major new step in Banijay Gaming's strategy to build a diversified European gaming leader.

Following the acquisition of the Tipico group in April 2026, Banijay Gaming transitioned from being a leader in the online segment to a European gaming group with a presence in sports betting, online and land-based gaming. With the integration of JOA, the Group extends this strategy by complementing its digital leadership with an extensive network of physical casinos.

This transaction will allow Banijay Gaming to broaden its capabilities while offering JOA the backing of an industrial group committed to a long-term value creation perspective. Banijay Gaming will leverage its expertise in technology, product development, customer relationship management, data and artificial intelligence to support JOA's development in France and internationally, while preserving the strengths that drive its success today. In parallel, Banijay Gaming will benefit from JOA's recognized expertise in operating land-based casinos, hospitality, dining, and leisure, as well as access to one of the largest and most engaged customer bases in the French physical casino market.

Banijay Gaming will also assist JOA in enhancing the customer experience through a more seamless journey between physical and digital channels, developing new experiences and creating new cross-selling opportunities between Banijay Gaming's online activities and JOA's casino network. All of these initiatives will help enrich the offering for customers, accelerate innovation, and support sustainable growth.

Building on a model of entrepreneurial excellence

The Group benefits from a proven model of integrating successful entrepreneurial ventures, preserving their unique strengths while supporting their development. This approach will help support JOA's growth and create long-term value.

Laurent Lassiaz will continue to lead JOA alongside the current management team, ensuring complete continuity for employees, customers and all stakeholders. Banijay Gaming and JOA share the same entrepreneurial culture, based on customer experience excellence, innovation, and responsible gaming. JOA's local management teams will maintain their close proximity to customers, in line with Banijay Gaming's decentralized model.

A shared commitment to responsible gaming

Responsible gaming is an essential pillar of Banijay Gaming's strategy and a prerequisite for sustainable growth across all its activities. Banijay Gaming and JOA share the conviction that gaming must remain a leisure activity, conducted in compliance with the highest standards of player protection, transparency, and regulatory compliance. Pooling expertise in online gaming and physical casino operations will allow both groups to continue advancing their standards and sharing best practices in responsible gaming.

Transaction terms and timeline

The transaction would take the form of an acquisition of JOA by Banijay Gaming from funds managed by Blackstone and Kings Park Capital, and would be funded through a combination of debt and equity. Following the transaction, Banijay Gaming will hold 100% of JOA's share capital.

The completion of the transaction is expected in the second half of 2026, subject to consultation with JOA's employee representative bodies and obtaining standard regulatory approvals, notably clearance from the French Competition Authority (Autorité de la concurrence) and applicable regulatory approvals regarding casino operations.