Banijay Reports €3.22 Billion for Q3 and Reaffirms Commitment to Media

Banijay released its Q3 and nine-month results, showing revenue of €3.22 billion for the period ending 30 September, up 3.2% from the prior year. The company reported continued growth in its gaming segment, with Banijay Gaming revenue increasing 8.7% to €1.13 billion and a 23% rise in unique active players. Content operations remained the largest contributor overall, generating €2.09 billion in revenue, a slight increase from last year.

Good to Know

• Banijay Gaming revenue increased across all segments
• Online casino revenue rose more than 16% driven by Portugal and Ivory Coast launches
• Adjusted net income grew 9.3% to €271.2 million

Q3 and Nine-Month Performance Highlights

Sportsbook was the top performer in Banijay Gaming, generating €857 million, up 5.3% despite tougher comparisons tied to major sporting events in 2024. Online casino revenue grew 16.4% to €179.1 million, boosted by cross-selling from sports wagering and stronger localized content. Poker revenue increased 32.7% to €76.2 million, and turf activities added €17.8 million, up 17.8%.

Adjusted EBITDA rose 9.3% to €597.1 million, supported by revenue gains across multiple segments. Operating profit reached €381.1 million, up 38.6%. Net profit rose to €128.9 million after accounting for income tax and adjustments tied to restructuring, incentive plans, and one-time costs. Adjusted net income totaled €271.2 million, up 9.3% year-over-year.

François Riahi, Chief Executive of Banijay Group, said the performance reflected the strength of a diversified model:

“Banijay delivered solid growth and strong performance during the first nine months of 2025 across all activities.”

Clarifying the Role of Content

During the Q3 earnings call, analysts raised speculation that Banijay might move away from its production and media content operations to focus exclusively on gaming. Riahi rejected that idea. Riahi said:

“We are very happy with our development in sports betting and gaming. However, we also believe that we have very positive opportunities on the content side. So no, we do not have any plans to sell this division.”

Banijay Entertainment produces global television and media programming, while Banijay Branded Entertainment and Banijay Media Germany manage branded content and creative marketing projects. Riahi emphasized that content remains a core revenue engine and a strategic differentiator.

Tipico Acquisition and Future Integration

In October, Banijay announced plans to acquire 65 percent of Tipico, including the Admiral business, with completion expected in mid-2026. After closing, Tipico will be merged with Betclic under the Banijay Gaming division. The merger follows the 2022 creation of FL Entertainment and its rebranding to Banijay Group in 2023.

Riahi described the Tipico acquisition as a major development aligned with Banijays growth strategy in regulated gaming markets.

FAQ

Is Banijay planning to sell its content business?

No. Leadership confirmed content remains central to the company strategy.

What drove gaming growth?

Increases across sportsbook, online casino, poker, and turf activities.

What role will Tipico play after acquisition?

Tipico will be merged with Betclic to expand Banijay Gaming scale.

How did online casino perform?

Revenue increased 16.4% due to momentum in Portugal and launch in Ivory Coast.

How strong were overall financial results?

Adjusted net income increased to €271.2 million, supported by diversified performance.

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