Banijay Gaming Lands Second-Largest French Casino Operator from Blackstone and Kings Park Capital
In a definitive move to expand its multi-channel footprint across core European markets, Banijay Gaming has entered into a put option agreement to acquire 100% of French casino operator JOA. The structural takeover transitions ownership from funds managed by private equity titans Blackstone and Kings Park Capital.
As the second-largest brick-and-mortar casino network in France, JOA represents a significant physical gaming footprint, operating 33 regional properties that generated approximately €430 million in gross revenues during 2025. The acquisition marks Banijay Gaming’s second major macro expansion in recent months, following its high-profile acquisition of Tipico Group in April 2026. By merging JOA’s expansive land-based network with its own digital technology, the multinational group aims to construct a highly diversified, omnichannel ecosystem capable of capturing shifting player behaviors across physical and digital touchpoints.
Combining Technical Innovations with Land-Based Leisure Assets
The combination of Banijay Gaming’s digital platform infrastructure with JOA’s physical entertainment properties underscores an ongoing trend among European leaders to capture cross-vertical player demographics. JOA’s commercial model relies on multi-experience entertainment hubs, blending traditional table games and electronic slot machines with localized restaurants, bars, and leisure facilities that collectively draw over 4.6 million customers annually.
Following the integration of Tipico Group, which established Banijay’s online sports betting and gaming dominance across Germany and Austria, the JOA transaction secures immediate land-based retail market share in France. Banijay plans to leverage its central capabilities in data analytics, artificial intelligence, and digital customer relationship management (CRM) to optimize JOA’s player acquisition channels. Concurrently, this setup creates powerful cross-selling corridors between Banijay’s existing online operations in France and JOA’s land-based customer base.
Decentralized Continuity and Corporate Responsibility
In alignment with Banijay Gaming’s decentralized operating philosophy for entrepreneurial acquisitions, local corporate governance will remain unchanged. Laurent Lassiaz will continue his tenure as Chairman of JOA alongside his established management team to maintain employee stability and municipal relations.
Furthermore, both corporate entities have pledged to merge their compliance frameworks to raise Player Protection and Responsible Gambling standards. By blending online data monitoring algorithms with land-based player tracking models, the combined entity aims to implement advanced consumer protection systems while navigating strict compliance expectations in highly regulated European jurisdictions.
Executive Perspectives on Group Growth Roadmap
Nicolas Béraud, Chairman of Banijay Gaming, detailed the consumer evolution driving the transaction:
“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.”
Laurent Lassiaz, Chairman of JOA, highlighted the technological resources unlocked by joining the parent group:
“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. Their expertise in technology and digital innovation will help us accelerate our omnichannel development, while allowing us to preserve the entrepreneurial spirit and local roots that have always been our strength.”
François Riahi, CEO of Banijay Group, emphasized the broader regional impact of the acquisition:
“The acquisition of Tipico has transformed us into a diversified omnichannel European leader in gaming, and the acquisition of JOA is fully relevant with this evolution. As in Germany and Austria, we will become a leader in land-based gaming in another of our core countries: France. We welcome happily the JOA teams in Banijay Group, where they will find a positive entrepreneurial environment to continue their growth and create value.”
The final execution of the transaction is projected to conclude before the end of H2 2026. The closing path remains dependent on formal consultation procedures with JOA’s employee representative bodies and the acquisition of standard merger control clearances alongside casino gaming regulatory authorizations from French state watchdogs.
