Sharp tax increases introduced across all gambling verticals in France have impacted the financial results of Banijay Gaming, owner of the Betclic sportsbook, but the firm’s international assets helped it weather the storm.

French entertainment conglomerate Banijay Group, formerly FL Entertainment, noted an impact of around €20m on adjusted EBITDA for H1 2025 as a result of the French tax changes.

Group-wide income tax paid rose from €50.9m in H1 2024 to €93m in H1 2025, contributing to EBITDA falling heavily. The figure stood at €176.4m, 25.8% less than €221.9m the year prior – but revenue has given the firm hope.

Banjay’s online sports betting and gaming division, which counts the Betclic sportsbook as its primary asset, saw revenue rise 12.3% to €785m (H1 2024: €688.5m), with sportsbook revenue up 10.3% to €609.6m (€551.4m).

This was particularly driven by a 25% year-over-year increase in unique active players. The firm attributed this to a combination of its user experience and the revamped UEFA Champions League format driving engagement.

Like many other firms, Banjay and Betlic have acknowledged some difficult comparatives with 2024 – mainly the fact that the men’s UEFA Euros last year was, as always, a big driver of European betting engagement.

Aside from sports betting, revenue gains were recorded across all remaining products. Casino revenue was up 16.4% from €98.9m to €115.1m, poker revneue was up 29.7% from €37.6m to €48.7m, and turf revenue was up 18.4% from €9.7m to €11.4m.

Betclic’s multinational presence saves the day?

Regarding French taxes, the firm has likely benefited from Betclic’s international presence, with the company headquartered in France but active in various other markets like Portugal under local licences and/or a Malta Gaming Authority (MGA) licence.

The French Social Security Financing Act has increased levies across all betting types, with online sports betting and retail sports betting seeing increases to 59.3% (54.9%) and 42.1% (41.1%) respectively.

Betclic’s performance in other markets seems to have provided a decent bulwark for the firm to ride out the initial turbulence caused by French tax changes. Operators which focus solely or largely on the French market without much of an international presence may not be so lucky.

François Riahi, CEO of Banijay Group, signed off H1: “Online sports betting and gaming delivered a very strong performance in all markets and activities, growing strongly despite a very high comparison basis from 2024’s busy sporting calendar.

“We continue to sustain Unique Active Player growth thanks to our seamless user experience, as well as our proven acquisition and retention strategy, and great engagement across all products and geographies.”

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