US asset management firm Oaktree Capital Management LP has acquired Slovenian gaming provider Interblock dd, the two parties announced in a joint press release issued on Tuesday.
In this regard, INTERBLOCK confirms that they will continue to operate as an independent business.
On the other hand, we should mention that Oaktree has a long history of successful investment in gaming and entertainment 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 Pe?e?nik, 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.
According to INTERBLOCK, by providing attractive economics to casino operators through increased trading speed and lower staffing costs, the ETG market has seen rapid growth with an acceleration in adoption during the pandemic.
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