Alternative investment management business Oaktree Capital Management has acquired electronic table games supplier Interblock.
Financial terms of the deal were not disclosed, but it was confirmed that Interblock will continue to operate as an independent business.
Interblock provides electronic tables games to customers in markets across North America, Latin America, EMEA and APAC.
Oaktree has a history of investments in both gambling and leisure companies, including J&J Ventures and Cannery Casino Resorts. Last year, it also submitted a number of funding proposals to Australian integrated resort operator Crown Resorts, though these were not accepted.
“We have delivered robust growth over the past six years, which can be attributed to the company’s dedicated team of electronic table games specialists, best in class product portfolio, data driven decision making and our continued focus on innovation,” Interblock global chief executive 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 – Oaktree.
Oaktree’s Special Situations Group managing director, David Quick, 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.”
