Slovenian-based Interblock d.d., the company that helped to pioneer automated roulette in Europe in the 1990s and went on to become the leading supplier in the international market for electronic table games (ETGs), has been acquired by Oaktree Capital Management LP, a Las Vegas-based asset management firm known for using its funds for investments in the gaming industry.
Financial terms of the transaction have not yet been released.
Interblock is well-known worldwide for its multi-player ETGs, available in a multitude of unique configurations. The company also has broken ground with its stadium ETG setups and Pulse Arena, a customized ETG arena that is set up in a club scene, complete with music and DJs, that a variety of casinos have branded in various unique property-specific brands.
Over the past two decades, Interblock has expanded from its European home market to achieve a significant footprint of products in North America, and has ridden the crest of recent success of the game genre, particularly as demand for ETGs increased after the global pandemic resulted in lower business for live table games.
Oaktree has a long history of successful investments in gaming and leisure companies, including J&J Ventures and Cannery Casino Resorts.
“We have delivered robust growth over the past six years,” said John Connelly, global chief executive officer of Interblock, “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 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.”
With its luxury product offerings, Interblock is the No. 1 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,” the company said in a press release.
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. Connelly, who became Interblock CEO in 2015 after 11 years as a top executive of the former Bally Technologies, will remain at the top of the company’s management.
