(Refiles to clarify CEO quote that the company is already exceeding 2028 revenue, earnings targets in paragraph 5)

March 26 (Reuters) - French media group Banijay expects its acquisition of betting firm Tipico and the merger of its entertainment business with All3Media's to boost revenue and profit growth towards 2029, it said on Thursday.

Banijay, the producer of "Peaky Blinders" and the "Big Brother" franchise, and All3Media, the producer of "The Traitors" and "Squid Game: The Challenge", agreed earlier this month to merge their entertainment production businesses to create one of Europe's largest multimedia production groups.

The company expects its revenue to reach 10 billion euros ($11.5 billion) in 2029, against the 2025 number of 7.4 billion euros, which has been adjusted to account for the two major deals.

It also targets 7% growth in its earnings before interest, taxes, depreciation and amortization (EBITDA), compared to last year's deal-adjusted result of 1.6 billion euros.

"Our target for 2028 was to have revenues about 7 billion euros and EBITDA about 1.2 billion euros. With these two acquisitions, we are already beyond that," Banijay CEO François Riahi said in a call with journalists.

The entertainment merger with All3Media will allow Banijay to address growing demand from global streamers and expand its digital distribution and live events, Riahi said.

The group expects to realize cost savings of 50 million euros via the merged content production business, which will be jointly owned by Banijay and RedBird IMI with each holding a 50% stake.

Cost synergies of the Tipico acquisition are expected to be around 100 million euros for Banijay's gaming unit.

More than 80% of Banijay's EBITDA is expected to turn into free cash flow over 2026-2029, which Riahi said would fuel progressive dividend increases, with more than 10% growth expected between 2025 and 2029.

Banijay will also pay out 400 million euros as an exceptional dividend once the All3Media merger is closed, likely around early autumn, Riahi added.

($1 = 0.8672 euros)

(Reporting by Mathias de Rozario and Leo Marchandon in Gdansk, editing by Milla Nissi-Prussak)

By Mathias de Rozario and Leo Marchandon