Banijay Gaming to Assume Full Control of JOA, Expanding French Land-Based Casino Presence

Banijay Gaming has entered an agreement to acquire JOA, France's second-largest casino group by number of establishments, from funds managed by Blackstone and Kings Park Capital. The terms of the financial arrangement were not disclosed by the companies involved. This strategic move aims to solidify Banijay Gaming's footprint in the European gaming sector, particularly within the French market.

The completion of this acquisition is projected for the latter half of 2026, pending the successful conclusion of employee consultations and necessary approvals from regulatory bodies. Once finalized, the deal will see JOA fully integrated under Banijay Gaming's ownership and operational control.

JOA operates a portfolio of 33 casinos across France, attracting over 4.6 million patrons annually. Beyond its core gaming operations, the company boasts extensive hospitality and leisure offerings, which collectively contributed to an estimated gross revenue of €430 million ($490 million) in 2025. Its diverse estate also includes 37 restaurants, 44 bars, and five hotels, underscoring its broad market presence.

Following the acquisition, the current leadership structure at JOA will remain largely intact. Laurent Lassiaz will continue serving as chairman, and the existing management team will maintain their roles. Banijay's intention behind this continuity is to leverage local operational expertise while simultaneously integrating JOA with Banijay's advanced technological and customer data capabilities. Banijay Group CEO François Riahi highlighted the strategic importance, stating that the deal "is fully relevant to this evolution" following the Tipico acquisition, adding, "As in Germany and Austria, we will become a leader in land-based gaming in another of our core countries: France."

This latest transaction follows Banijay's acquisition of Tipico Group earlier in April, which brought together prominent brands like Betclic, Tipico, and Admiral under the Banijay Gaming umbrella. The addition of JOA is set to complement Banijay Gaming's existing online betting and gaming activities with a substantial nationwide land-based casino network.

Banijay has articulated aspirations to enhance customer engagement across both its physical and digital channels, envisioning potential cross-selling avenues between JOA’s casino properties and its online ventures in France. However, these ambitions operate within the specific confines of French gambling law, which currently prohibits real-money online casino games, despite previous legislative efforts to introduce them. The country's regulated online gambling market is limited to sports betting, horse-racing betting, and poker from authorized operators, alongside lottery products exclusively offered by FDJ. Consequently, this acquisition primarily bolsters Banijay's retail casino capacity rather than providing a legal entry point into online slots or table games in France.

The French regulated gambling sector experienced notable growth in 2025, with gross gaming revenue reaching €14.1 billion ($16 billion), marking a 3% increase over the previous year. Online gambling contributed €2.61 billion ($3 billion) to this total, reflecting an 8.5% rise and accounting for 18.5% of the overall regulated revenue. Land-based casinos also showed positive momentum, with their gross gaming revenue climbing 3.4% to €2.81 billion ($3.20 billion), accompanied by a 2% increase in admissions to 31.6 million. Online sports betting remained the dominant segment within the digital market, generating €1.76 billion ($2 billion), a 10.4% increase.