Banijay Group CEO François Riahi has rejected suggestions that the company could sell off its content business and focus solely on gaming, after growth within the latter pushed revenue up during the first nine months of 2025.
Fileding questions from analysts during the operator’s Q3 earnings call on Thursday, Riahi said the group had no plans to dispose of its content division as there were still opportunities for growth within the sector.
“We are very happy with our development in sports betting and gaming,” he said on the call. “The Tipico acquisition was a very major event for us and we stick to our strategy here for growth in gaming.
“However, we also believe that we have very positive opportunities on the content side. So no, we don’t have any plans to sell this division.”
Banijay’s Entertainment content business exists outside the gaming industry, as a developer and producer of global media, including television and film. Within the business sits a creative marketing agency called Banijay Media Germany and a branded content arm called Banijay Branded Entertainment.
In October the group announced it would acquire a majority stake in German operator Tipico in an agreement including Tipico’s Admiral business, acquired from Novomatic in January. Banijay will take a 65% stake in Tipico in a deal that will complete in mid-2026.
After completion, Banijay will merge Tipico with its Betclic brand. Betclic has been part of Banijay for several years. In May 2022, Betclic merged with Banijay to create a new listed entity, FL Entertainment. Last May, the company rebranded to Banijay Group, with the Banijay Gaming sub-division regrouping online sports betting and gaming activities.
9M revenue hits €3.22 million at Banijay
Switching attention to Banijay’s financial performance in the nine months to 30 September and the results read positively for the group. Revenue for the period reached €3.22 billion, an increase of 3.2% from the previous year.
Content- and production-focused Banijay Entertainment and Banijay Live drew the largest portion of revenue at €2.09 billion, an increase of 0.4%. However, it was gaming where the group saw the most growth.
Banijay Gaming revenue increased 8.7% to €1.13 billion, with increases across all areas of this business. The number of unique active players within this segment also jumped 23% year-on-year.
Sportsbook drew the most gaming revenue at €857 million, up 5.3% year-on-year. The group said this was despite a tough comparable period in 2024, which included the latter stages of Euro 2024, and unfavourable sports in September.
Online casino delivered double-digit growth of 16.4%, with revenue reaching €179.1 million for the period. Banijay put this down to continued momentum in Portugal and launching in Ivory Coast. It also noted the impact of cross-selling from the sportsbook and a strengthened content offering.
As for other gaming-related revenue, poker revenue increased 32.7%, more than any other segment in the business, to €76.2 million. The remaining €17.8 million was drawn from turf activities, up 17.8%.
Adjusted net profit rises to €271.2 million
In terms of group spending, external and personnel expenses were 2.2% higher for the nine-month period. However, such was the impact of revenue growth that adjusted EBITDA was up 9.3% to €597.1 million.
Operating profit hiked 38.6% to €381.1 million while pre-tax profit jumped 76.4% to €189 million, despite higher finance-related costs. Banijay paid €60.1 million in income tax, with this leaving a net profit of €128.9 million, up 132.2%.
However, certain other factors were also accounted for. This included taking off €17.4 million in restructuring costs and other on-recurring items, €87.8 million in long-term incentive plan and employment related earn-out and option expenses, as well as €37.0 million in other costs. Banijay was left with an adjusted net income of €271.2 million some 9.3% above last year.
“Banijay delivered solid growth and strong performance during the first nine months of 2025 across all activities, underscoring the strength of our diversified model,” Riahi said of the results,
Banijay said it remains committed to its content division despite its focus on growth in the gaming sector.