USA.- June 9th 2022 www.zonadeazar.com Interblock has been acquired by funds managed by Oaktree Capital Management.
The developer and supplier of electronic table games (ETG) noted that Oaktree has a long history of successful investments in gaming and leisure companies. This includes deals with J&J Ventures and Cannery Casino Resorts.
The group added that it will continue to innovate with new software and products for the benefit of its customers and players around the globe, and that it will continue to operate as an independent business.
“We have delivered robust growth over the past six years, which can be attributed to the company’s dedicated team of ETG specialists, best in class product portfolio, data driven decision making and our continued focus on innovation,” said Interblock Global CEO John Connelly.
“There is significant momentum within the Electronic Table Game sector, making it the right time to partner with one of the largest private equity firms in the world – Oaktree. Such progress would not have been possible without the leadership and innovative eye of our outgoing Chairman, Joc Pečečnik, who has contributed significantly to both Interblock’s development and the gaming industry overall.
“Moving forward, we are excited about our partnership with Oaktree and the ability to further accelerate our momentum, concentrating on both organic growth and potential acquisitions.”
Interblock also noted that the ETG market has experienced rapid growth lately, with an acceleration in adoption occurring during the pandemic.
David Quick, Managing Director in Oaktree’s Special Situations Group and Board Member of Interblock, commented: “We look forward to being a part of this exciting new chapter for Interblock, which boasts significant market leadership in an incredibly fast-growing industry, an attractive financial profile and durable customer relationships.
“We will work closely with John and the company’s world-class leadership team to advance the growth plan and achieve their long-term vision for the business.”