Quick Take: Banijay acquires France‘s No.2 casino operator

Research evidence excerpt

Quick Take: Banijay acquires France‘s No.2 casino operator

ntial to create future successful shows and be harmful to

relationships with key stakeholders. For Betclic the biggest risk is regulation. Upside risks: For Banijay 1) accretive and synergistic

M&A 2) entrepreneurialism. For Betclic 1) mainstream user acceptance of gaming 2) sports betting.

RATINGS DEFINITIONS, BENCHMARKS AND DISTRIBUTION

EQUITY RATINGS DEFINITIONS

Bernstein brand

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The Bernstein brand has three categories of ratings:

• Outperform: Stock will outpace the market index by more than 15 pp

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are suspended temporarily, are no longer current, and should therefore not be relied upon.

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predicted, at the present time.