French competition authority clears Banijay Gaming's acquisition of casino operator Joa without conditions

France's competition authority has approved Banijay Gaming's planned acquisition of casino operator Joa with no conditions attached, finding that the deal is unlikely to harm competition.

The Autorité de la Concurrence said on Wednesday that this was the first case in France in which it had reviewed a transaction bringing together online and land-based gambling businesses. A central question was whether the merged group could use offers spanning both channels to put rivals at a disadvantage. The authority chose not to assess the possible legalization of online casino games, regarding that prospect as too uncertain.

Poker was identified as the main area where the two businesses might overlap. After consulting competitors and the national gambling regulator, the ANJ, the authority found that players do move between online platforms and casino venues, and that younger casino customers are helping to bring the two audiences closer together. Even so, it concluded that competition would not be harmed, pointing to the parties' market positions, the presence of substantial competitors and the small contribution poker makes to Joa's casino business. It added that customers using both physical venues and digital gambling did not justify intervention here. Its analysis was also constrained by current French rules, which prohibit online casino games.

Banijay agreed in July to buy Joa, which runs 33 casinos, from funds managed by Blackstone and Kings Park Capital. When the deal was announced, Joa chairman Laurent Lassiaz said Banijay's expertise in technology and digital innovation would help accelerate the company's omnichannel development while preserving its entrepreneurial spirit and local roots. He has also described the French casino sector as aimed at locals, a local leisure destination.

Banijay Group CEO François Riahi linked the deal to the group's earlier purchase of Tipico, which he said had turned the business into a diversified omnichannel European leader in gaming. He said Banijay would become a leader in land-based gaming in France, as it already is in Germany and Austria. Banijay announced the Tipico acquisition in October last year, adding to a business that includes Betclic. In an investor presentation earlier this year, the group said Betclic holds the top position in French online betting.