Oaktree Capital Management has bought Interblock and says it plans to help the electronic gaming machine company continue its growth plans.
No financial terms of the acquisition were provided in the statement and Interblock will continue to operate as a separate entity.
Oaktree said it 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, which can be attributed to the company’s dedicated team of ETG specialists, best in the class product portfolio, data-driven decision making and our continued focus on innovation,” Interblock CEO John Connelly said. “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.”
“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.
By providing attractive economics to casino operators through increased dealing speed and decreased staffing costs, the ETG market has experienced rapid growth with acceleration in adoption occurring during the pandemic.