At what enterprise value was JOA acquired in 2026?

You can find the full valuation details of JOA on mynth capital. By registering for free, you get access to complete and exact transaction details including enterprise value, revenue, and EBITDA. Additionally, our database shows that the Retail & Consumer industry currently tracks an average EBITDA multiple of 11.0x, providing a valuable benchmark for this transaction.

What was the EV/EBITDA of JOA when it was acquired by BANIJAY GROUP?

The exact EV/EBITDA multiple for JOA is available on mynth capital. For comparison, the Retail & Consumer sector currently shows an average EBITDA multiple of 11.0x. Join our community for free to access full valuation data and industry trends.

When was JOA acquired by BANIJAY GROUP?

JOA was acquired by BANIJAY GROUP in 2026.

What was the revenue of JOA at the time of the deal?

The revenue of JOA at the time of the deal is estimated to be in the range of 250M - 500M EUR. Register for free to access the full transaction report and exact valuation multiples.

What is Enterprise Value (EV)?

Enterprise Value (EV) is a measure of a company's total value, often used as a more comprehensive alternative to equity market capitalization. EV includes in its calculation the market capitalization of a company but also short-term and long-term debt as well as any cash on the company's balance sheet.

What is the EV/EBITDA multiple and why is it used?

The EV/EBITDA multiple is a financial ratio that compares a company's Enterprise Value (EV) to its Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA). It is widely used in M&A and valuation because it allows for comparisons between companies with different capital structures and provides a clear view of operational profitability.

How is the data for the JOA acquisition sourced and is it reliable?

Mynth data is contributed by a professional community of M&A and Private Equity experts. Each transaction, including the JOA deal, is systematically cross-verified by our team using private deal documents and official sources. You can also find the official press release for this transaction here: https://group.banijay.com/banijay-gaming-acquires-joa-to-drive-its-omnichannel-strategy/

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Home Database Retail & ConsumerJOA

07/2026

JOA acquired by BANIJAY GROUP

FRANCE Gambling & Betting REV 250M - 500M EUR

Context

Blackstone has announced the sale of its entire ownership interest in JOA to Banijay Gaming, bringing to a close nearly nine years of ownership of France’s second-largest casino operator by number of venues. The transaction represents a new chapter for JOA following a period of expansion driven by organic growth and selective acquisitions that strengthened its position in the French regulated gaming market. For Banijay Gaming, the acquisition forms part of a broader strategy to build an integrated European gaming platform. The addition of JOA’s network of casinos, restaurants and hospitality assets complements the group’s existing sports betting and online gaming activities, creating a business spanning both land-based and digital gaming channels. The combination is expected to generate commercial opportunities by leveraging the complementary capabilities of both organisations. Banijay plans to strengthen connections between its digital gaming platforms and JOA’s physical venues while enhancing the overall customer experience through its expertise in entertainment and content creation. Following completion, the companies intend to implement a phased integration programme focused on harmonising operational processes, technology platforms and selected support functions. The combined group also expects to optimise loyalty programmes, consolidate procurement activities and improve operational efficiency across the enlarged organisation. Through this acquisition, Banijay Gaming significantly strengthens its presence in the European gaming industry while advancing its strategy of combining online gaming, land-based casinos and entertainment assets. At the same time, JOA will benefit from the financial resources, operational expertise and international reach of a larger diversified group.

JOA, which reported an EBITDA margin of LOGIN in 2025, is valued in this transaction at an EV/EBITDA multiple of LOGIN, a level to compare with the average currently observed in the Retail & Consumer sector (11.0x).

Note that this data is based on contribution from our growing community, composed of M&A and Private Equity professionals, and has been verified by our team to ensure its accuracy.

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Target

JOA is one of France’s leading casino operators, providing an integrated entertainment and hospitality offering through a nationwide network of gaming venues. The group combines regulated casino gaming with restaurants, bars and, at selected locations, hotel facilities to deliver a comprehensive customer experience. Its portfolio includes slot machines, traditional table games, electronic gaming solutions and dedicated food and event spaces. This diversified offering enables JOA to generate multiple revenue streams while enhancing customer engagement across its venues.

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2025

2024

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Date	Acquirer	Target	Country	Sector	Deal Context
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09/2022	GROUPE FDJ	ZETURF GROUP	FRANCE	Gambling & Betting	Groupe FDJ announced the acquisition of 100% of ZEturf Group to strategically enter the online horse racing and poker markets. This transaction is a key component of FDJ’s broader ambition to become a dominant player in the competitive online gaming sector, moving beyond its traditional lottery roots. By acquiring ZEturf, FDJ becomes the fourth-largest operator in the French competitive online gaming market, with a combined market share exceeding 10%. The strategic rationale centers on horizontal integration in a mature market, allowing FDJ to double its competitive online revenue through a single "bolt-on" acquisition
12/2020	GAMENET GROUP	LOTTOMATICA	ITALY	Gambling & Betting	IGT’s Italian B2C businesses has been acquired by Gamenet Group, a subsidiary of the Apollo-backed Gamma Bidco. Strategically, this acquisition marks the creation of the undisputed market leader in the Italian gaming sector, effectively doubling the group’s size and significantly enhancing its competitive moat across online and retail channels. The rationale for the deal centers on achieving significant cost synergies—projected at up to 50 million EUR annually within 24 months—and the vertical integration of high-quality B2C assets

REFERENCES

Revenue range: 250M - 500M EUR

Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of JOA by BANIJAY GROUP are reserved for mynth community members. Register for free to unlock full data.

Authors: verified mynth contributor (mynth data is contributed by M&A / PE professionals and systematically cross-verified with private deal documents and official press releases).

Press release: view release

Acquirer: banijay group