Banijay Gaming Acquires JOA to Strengthen Its Omnichannel Strategy in Europe
The purchase of JOA — the second-largest casino chain in France — expands Banijay's physical and digital presence following its acquisition of Tipico in April 2026.
Key Takeaways
- Banijay Gaming will purchase JOA from funds managed by Blackstone and Kings Park Capital via a put option.
- JOA operates 33 casinos in France and registered approximately €430 million in gross revenue in 2025.
- The transaction requires consultation with employee representatives and regulatory approvals, with closing expected in H2 2026.
- Laurent Lassiaz will continue to lead JOA alongside the management team after the integration.
BLUF: Banijay Gaming has agreed to purchase JOA from funds managed by Blackstone and Kings Park Capital under a put option, integrating the second-largest casino chain in France into its omnichannel platform. The deal adds 33 casinos and approximately €430 million in 2025 revenue and is expected to close in the second half of 2026 after consultations with employee representatives and regulatory approvals.
What the Acquisition of JOA by Banijay Gaming Entails
The transaction incorporates JOA, which operates a national network of 33 casinos in France, into the Banijay Gaming group. JOA recorded approximately €430 million in gross revenue in 2025 and attracts over 4.6 million customers annually to its venues, combining gaming with restaurants, bars, and leisure activities.
Banijay Gaming had already advanced its European expansion with the acquisition of Tipico Group in April 2026. With JOA, the company aims to accelerate its omnichannel capabilities by integrating Banijay's digital experience with JOA's extensive physical presence.
How This Will Affect JOA's Operations and Local Teams
Laurent Lassiaz, President of JOA, will maintain his leadership and continue at the helm alongside the current management team, with the aim of ensuring continuity for employees, customers, and local stakeholders. The joint management intends to preserve JOA's corporate culture and local roots while integrating Banijay's technological expertise.
"Joining Banijay Gaming marks an exciting new chapter for JOA... Their expertise in technology and digital innovation will help us accelerate our omnichannel development," stated Laurent Lassiaz.
Consultation with employee representatives is a contractual step planned before the closure and is part of the customary labor requirements in such operations in France. The official timeline places the expected closure in H2 2026, pending this consultation and the necessary regulatory approvals.
Omnichannel Strategy: Why Banijay Is Committed to Combining Digital and Physical
Nicolas Béraud, President of Banijay Gaming, outlined the strategic motivation behind the acquisition: to respond to customers demanding integrated experiences between physical and digital environments. Banijay plans to bring technology, artificial intelligence, and data capabilities to complement JOA's facilities and leisure offerings.
"Customers increasingly expect seamless experiences across digital and physical environments, and this transaction positions us perfectly to respond to that evolution," declared Nicolas Béraud.
The combination of physical hubs with digital capabilities aims to enhance the omnichannel offering: unified promotions, better flows of customer data, and a commercial proposition that integrates physical leisure with digital products.
Key Terms of the Agreement and Regulatory Conditions
The operation occurs against funds managed by Blackstone and Kings Park Capital through the exercise of a put option stipulated in the agreement between the parties. The closure is subject to:
consultation with JOA's employee representatives;
merger control approvals;
specific authorizations from the gaming regulator in the markets where the casinos operate, including the necessary regulatory permissions for the casino sector in France.
No purchase values or additional financial terms have been disclosed in the public announcement.
Market Impact and European Positioning
With JOA, Banijay Gaming strengthens its position in the French physical market and extends its ability to offer integrated experiences following the acquisition of Tipico Group in April 2026. JOA brings a customer base of over 4.6 million annually and venues across all regions of France.
The group anticipates accelerating JOA's international development, although the operational and investment details for that growth will remain under joint management and will be communicated in later phases.
What Operators and Suppliers Should Watch For
Technology and data suppliers will see demand for solutions that connect operations in physical venues with digital platforms: customer data capture and analysis, omnichannel loyalty tools, and applied artificial intelligence marketing and operations solutions. French operators and European players will closely monitor the progress of regulatory approval processes and labor negotiations at JOA.
Context and Upcoming Milestones
The official timeline projects closure in the second half of 2026, contingent on consultations with employee representatives and administrative and competition approvals. Until then, both companies will work on operational integration and plans to accelerate the next phase of development in France and internationally.
Frequently Asked Questions
Who is selling JOA and how is the deal structured?
The transaction is executed against funds managed by Blackstone and Kings Park Capital through the exercise of a put option. The official announcement does not disclose the price or any additional financial terms.
How many casinos does JOA contribute and what volume does it generate?
JOA contributes a network of 33 casinos in France and generated approximately €430 million in gross revenue in 2025, in addition to receiving over 4.6 million customers annually.
When is the expected closure and what are the conditions?
The closure is expected in the second half of 2026 and is subject to consultation with employee representatives and regulatory approvals, including merger control and authorizations for the casino sector.
Who will lead JOA after the purchase?
Laurent Lassiaz, President of JOA, will continue to lead the company alongside the current executive team to ensure continuity for employees, customers, and local stakeholders.
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About the author
Gonzalo Marín
Industry Deals Correspondent
Gonzalo Marín covers the corporate deal flow of gambling — operator strategy, M&A, regulated-market entries, and product launches. The reports open with the transaction, cite companies, valuations, and jurisdictions exactly as released, and keep the announcement apart from its actual effect. When a Latin American operator raises capital or a European brand lands in the region, Gonzalo Marín reports who signs, for how much, and on what terms.
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