France Unconditionally Clears Banijay's Acquisition of Joa

France's competition authority, the Autorité de la Concurrence, has approved Banijay Gaming's plan to acquire casino operator Joa Group without attaching any conditions. The authority reviewed this transaction, which brings together online betting and physical casino operations, for the first time in France, and concluded that the merger would not significantly harm competition.

The authority assessed whether the combined company could harm its rivals through cross-channel products and promotions. The review focused most on poker. Talks were held with rival operators and with ANJ, France's gambling regulator. Players, especially younger customers, were found to move between online platforms and casinos. Even so, citing current market positions, strong competitors, and the limited role of poker in Joa's overall casino business, no intervention was deemed necessary.

The assessment was based on the existing legal framework. Since online casino games remain illegal in France, a possible future regulation was not taken into account. The government's proposal to regulate this area has faced opposition from physical casino operators and the local authorities where casinos are located, so the authority found the regulation too uncertain to evaluate.

Banijay announced in July that it would acquire Joa. Joa is owned by funds linked to Blackstone and Kings Park Capital and operates 33 casinos across France. The deal will add a large physical casino network to a portfolio made up of Betclic and Germany's sports betting group Tipico. Banijay Group CEO François Riahi said the company aims to be the leader in the physical gaming sector in France, as it is in Germany and Austria.