Electronic table games (ETG) developer and supplier Interblock has officially been acquired by funds under the control of Oaktree Capital Management, L.P.
While the move is a significant one in the ETG space, Interblock will continue to operate as an independent company.
Interblock, active in over 200 jurisdictions, can claim a truly global footprint. It has a strong reputation in the ETG space for its luxury, multi-player interactive playing experiences, making it an attractive acquisition for Oaktree.
As group Global CEO John Connelly phrased its progress: “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.”
From its end, the Los Angeles-based Oaktree, which commanded $164bn in assets as of the end of Q1 2022, has a long history of work in the gaming sector. Among the companies in which it has successfully invested are J&J Ventures and Cannery Row Casino Resorts.
Comments from David Quick, the group’s Managing Director in its Special Situations Group highlighted the benefits of the acquisition: “We look forward to being a part of this exciting new chapter for Interblock, which boasts a significant market leadership in an incredibly fast-growing industry, an attractive financial profile and durable customer relationships.”
Quick is also a board member at Interblock.
The ETG market is one that has benefitted immensely from the pandemic, when people we forced to gamble from their homes rather than venture out to a casino. Despite the return of land-based playing, the market continues to thrive.
