Kirkland Advises Banijay Group and Banijay Gaming on Senior Secured Notes Offering to Fund Banijay Gaming’s Acquisition of JOA

Kirkland & Ellis advised Banijay Group (AMS: BNJ) and Banijay Gaming, a European leader in sports betting and online gaming, in connection with its offering of €450 million in aggregate principal amount of senior secured notes as part the financing for its acquisition of JOA. JOA is the second-largest casino operator in France with a nationwide network of 33 casinos across the country and over 4.6 million customers per year. The acquisition of JOA is expected to complete in the fourth quarter of the year ending December 31, 2026, subject to the satisfaction of certain conditions, including, among others, certain regulatory approvals. The transaction is expected to further expand Banijay Gaming’s omnichannel capabilities by adding a sizeable French land-based casino footprint, with its revenue reaching approximately €3.7 billion and EBITDA exceeding €1.0 billion as a result thereof.

The Kirkland team included capital markets lawyers Cedric Van den Borren, Will Taylor, Luca Meneghini and Louis Noirault; debt finance lawyers Evgeny Zborovsky, Maroussia Cuny, Philipp Engel and Brent Tan; and tax lawyers Nadine Gelli and Louise Chappey.