Interblock announced on Tuesday that it has been acquired by funds managed by Oaktree Capital Management. The company will continue to operate as an independent business.
The company provides multiplayer gaming devices featuring “the ultimate in luxury interactive entertainment experiences for gamers”, as described by Interblock. Otherwise, Oaktree has a long history of investing in games and entertainment companies, including J&J Ventures and Cannery Casino Resorts. Its assets under management were $164 billion as of March 31, 2022.
John Connelly, Global Managing Director of Interblock, said: “We have seen 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 in the electronic tabletop gaming industry, which makes it a good time to partner with one of the world’s largest private equity firms – Oaktree.”
“Such progress would not have been possible without the leadership and innovative eye of our outgoing President, Joc Pečečnik, who contributed significantly to the development of Interblock and the gaming industry as a whole. ‘coming, we are excited about our partnership with Oaktree and the ability to further accelerate our momentum, focusing on both organic growth and potential acquisitions,” he added.
David Quick, Managing Director of Oaktree’s Special Situations Group and Interblock Board Memberdeclared: “We look forward to being part of this exciting new chapter for Interblock, who enjoys significant market leadership in an incredibly fast-growing industry, an attractive financial profile and long-lasting client relationships. We will work closely with John and the company’s world-class management team to drive the growth plan forward and realize their long-term vision for the business. »
Interblock is an electronic games provider with operations in over 234 jurisdictions across North America, Latin America, EMEA and APAC, and “will continue to innovate with new software and products,” the company added.
“By providing an attractive economy for casino operators through increased transaction speed and lower staffing costs, the ETG market has grown rapidly with adoption accelerating during the pandemic,” he said. he concluded.