The Banijay group, owner of Betclic, acquires the Joa casino network to strengthen its multichannel strategy and combine online games and physical experience.
Banijay Group, already owner of Betclic, announced the acquisition of the 33 Joa casinos, located throughout France. These establishments, which welcome more than 4.6 million visitors each year, achieved 430 million euros in gross turnover last year in 2025. Banijay Gaming, the gaming branch of the group founded by Stéphane Courbit, is buying Joa, the French number 2 in the sector in terms of number of establishments behind the Partouche group, from the Blackstone and Kings Park Capital funds.
An accelerated diversification strategy
This operation is part of Banijay’s desire to strengthen its position in the gaming sector, by focusing on the complementarity between online games and physical experience. “With the integration of Joa, Banijay Gaming is extending this strategy by complementing its digital leadership with a vast network of casinos,” adds Nicolas Béraud. “This corresponds to the expectations of players, who want to continue to be entertained in physical locations. We want to offer them a global experience.”
Since the merger with Betclic in 2022, Banijay has been walking on two legs: the production and distribution of TV content (“Black Mirror”, “MasterChef”, “Survivor”, “Big Brother”, etc.) on one side, where it is number one in the world among independent players, and online games and sports betting on the other. This second activity generates almost half of its revenues and accounts for 55% of its profits. It brings together the Betclic brands and, since last fall, Tipico. Banijay took control of the sports betting leader in Germany and Austria by spending 3 billion euros. After crossing the threshold of 5.4 million players (+16%), it is now aiming for the Top 5 in the world by 2030.
Like most players in the sector, Joa has evolved its business model in recent years by allocating 50% of the surface area of its casinos to restaurants, bars, performance halls and bowling alleys, in order to modernize them. “We have built real entertainment venues, which has helped to modernize the experience and attract diverse clienteles,” explains Laurent Lassiaz, president of Joa.
The casino sector in France operates via a public service delegation regime. “France is the largest European market (2.7 billion euros in turnover), with 2.6% growth on average over the last decade (excluding Covid),” indicates Nicolas Béraud.
Stéphane Courbit’s group intends to offer a more fluid path between physical and digital channels and develop synergies between these two worlds. “Tomorrow, Betclic, the second largest poker platform in France, could carry out the qualifying phase of its tournaments online and then take the players, in the final phases, to the Joa casinos,” explains the boss of the Banijay gaming division.
Online casino games (blackjack, roulette, slot machines, etc.) remain prohibited in France, even if there are many illegal sites. In the past, some physical casino groups have called for possible further liberalization of online gaming to be reserved for them.
International ambitions and growth
In the space of a year, the French group, listed in Amsterdam for four years, has changed dimension. It intends to exceed 10 billion euros in revenue in 2029, compared to 7.4 billion euros last year. This multi-channel approach should allow Banijay Gaming to develop internationally, through organic growth and acquisitions, in Europe first, but also in Africa and Latin America.
