IntrCity SmartBus lands $30M at $140M valuation to deepen its grip on India’s intercity travel market

IntrCity SmartBus grew revenue by 67% last year and is targeting full profitability this year, as intercity travel booms across India.

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Peaky Blinders producer Banijay seals $5B deal to create gambling giant

The producers of hit shows like The Peaky Blinders have put pen to paper on a £4 billion ($5.28 billion) gambling deal.
Banijay Group (Banijay) is responsible for the Cillian Murphy-led gangster show, alongside other television brands like Big Brother and Masterchef.
Now the production company is entering into the entertainment and gambling sector with a deal to take the majority of CVC Capital Partners VII’s stake in Tipico Group (Tipico) and to create a whole new entity, Banijay Gaming.
CVC announces Banijay gambling deal
CVC published a press statement about the billion-dollar deal to move its lion’s share in Tipico to Banijay. The deal, according to CVC, will also see the creation of a “European champion in sports betting and online gaming.”
This is in reference to the finer points of the deal, where the French company Betclic and the existing shares of Tipico will merge to create a new entity, Banijay Gaming.
A statement by Tipico explained the deal as “Banijay Group will buy the major stake of CVC in Tipico in cash, and all shareholders of Betclic and Tipico, including the respective founders, will become shareholders of the combined entity.”
The Tipico release suggests that Banijay will double its expected revenue by bringing these two betting companies together. The deal would mean that Banijay Gaming would have an audience of “almost 6.5m unique active players annually, operate more than 1,250 betting shops in Germany and Austria and employ 5,300 employees.”
Tipico merges in bid to become European betting powerhouse
CEO of Banijay Group, François Riahi, said of the merger, “I am particularly pleased to see that Tipico founders have decided to partner with us to build a new European leader in the sports betting business, rolling over all their stake in Tipico into Banijay Gaming, which is fully consistent with our DNA to gather strong entrepreneurs for the long term and a testimony to their trust in the future value creation.”

Banijay a racheté Tipico
“En rachetant Tipico, on double de taille dans le domaine du pari sportif. On devient le leader d’Europe continentale sur ce métier.”
François Riahi, directeur général de Banijay GroupSandra Gandouin pic.twitter.com/6KU3s3VBiy
— BFM Business (@bfmbusiness) October 29, 2025

Speaking on BFMTV, he later added: “By acquiring Tipico, we are doubling our size in the sports betting sector. We are becoming the leader in continental Europe in this business.”
Around 64.9% of the combined entity will be owned by Banijay, with 35.1% being shared out amongst the partners in the deal (Tipico founders, CVC, Nicolas Béraud, and Tipico managers).
The deal in its entirety is projected to close in mid-2026 after the regulatory eyes, legal red tape, and other control measures are taken into account.
Featured Image: Tipico / Banijay
The post Peaky Blinders producer Banijay seals $5B deal to create gambling giant appeared first on ReadWrite.

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Meta, Google, and Microsoft Triple Down on AI Spending

Three of the biggest US tech companies reported record profits and record infrastructure spending on Wednesday, fueling speculation about a possible AI market bubble.

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CNBC Daily Open: Capex is the number to look at amid Big Tech earnings

The crux is that spending on artificial intelligence isn’t going to slow down, at least for the next year, thanks to increasing demand for AI services.

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Wall Street hates Meta’s AI spending guidance raise. We don’t

The pressure on Meta stock was almost certainly due to management’s expense guidance raise.

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India’s Snabbit valuation doubled to $180M in 5 months on its quick house-help bet

Snabbit has raised its third funding round in nine months.

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Samsung’s third-quarter profit more than doubles, beating estimates as chip recovery gathers pace

Samsung Electronics reported a rebound in earnings on Thursday, with operating profit more than doubling from the previous quarter.

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Cluely’s Roy Lee on the ragebait strategy for startup marketing

Cluely’s Roy Lee has a message for startup founders: you should be thinking harder about how to go viral.

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Fund managers reveal their bubble recipes and what to watch for as AI stocks soar

“Fundamentals and valuations can only be ignored for so long,” one portfolio manager told CNBC.

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Meta CEO Mark Zuckerberg defends AI spending: ‘We’re seeing the returns’

Mark Zuckerberg is reminding investors that Meta needs to keep spending on artificial intelligence because of the risk of not investing enough.

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