LAS VEGAS & MENGEŠ, Slovenia–(BUSINESS WIRE)– INTERBLOCK d.d. (“Interblock” or the “Company”), the leading developer and supplier of luxury fully and semi-automated electronic table games (“ETG”) globally, announced today that it has been acquired by funds managed by Oaktree Capital Management, L.P. (“Oaktree”).
The Company is well known worldwide for its multi-player gaming devices that continually set industry standards and provide the ultimate in luxury interactive entertainment experiences for players. Oaktree has a long history of successful investments in gaming and leisure companies, including J&J Ventures and Cannery Casino Resorts.
John Connelly, Global Chief Executive Officer of Interblock, said, “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. 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 Pececnik, 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.”
With its luxury product offerings, Interblock is the number-one supplier of electronic games in North America, Latin America, EMEA and APAC and will continue to innovate with new software and products for the benefit of our customers and players around the globe.
David Quick, Managing Director in Oaktree’s Special Situations Group and Board Member of Interblock, added, “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.”
By providing attractive economics to casino operators through increased dealing speed and decreased staffing costs, the ETG market has experienced rapid growth with an acceleration in adoption occurring during the pandemic.
Interblock will continue to operate as an independent business.
Source: Cyprus News Agency