The Menges-headquartered innovator used an official Tuesday press release to declare that its multi-player gaming devices have garnered a global reputation for setting industry standards and providing players with ‘the ultimate in luxury interactive entertainment experiences’. With regards to Oaktree Capital Management LP and the company stated that the new owner ‘has a long history of successful investments in gaming and leisure companies’ including its 2005 acquisition of a minority stake in Cannery Casino Resorts as well as its purchase last year of Illinois video game terminal operator J&J Ventures.
John Connelly (pictured) serves as the Global Chief Executive Officer for Interblock and he used the press release to proclaim that his firm has ‘delivered robust growth over the past six years’ due to its ‘continued focus on innovation’, data-driven decision-making processes and dedication to supplying partners with a ‘best in class product portfolio’. The experienced professional moreover asserted that it is now ‘the right time’ to partner with Oaktree Capital Management LP as ‘there is significant momentum within the electronic table games sector.’
Read a statement from Connelly…
“Such progress would not have been possible without the leadership and innovative eye of our outgoing Chairman, Joc Pececnik, who has contributed significantly to both Interblock’s development and the gaming industry overall. Moving forward, we are excited about our partnership with Oaktree Capital Management LP and the ability to further accelerate our momentum, concentrating on both organic growth and potential acquisitions.”
Interblock pronounced that its acquisition by Oaktree Capital Management LP will allow it to further bolster its market-leading position within the electronic table games sector while continuing to operate as an ‘independent business.’ The innovator furthermore asserted that it is ‘the number-one supplier’ of such advances in Latin America, Asia, Europe, Africa and North America and intends to continue innovating ‘with new software and products’ benefiting operators and players across the globe.
For his part and the Special Situations Group Managing Director for Oaktree Capital Management LP, David Quick, confirmed that he will be taking a seat on the board at Interblock and is ‘now looking forward to being a part of this exciting new chapter’ in the company’s development.
A statement from Quick read…
“Interblock boasts significant market leadership in an incredibly fast-growing industry, an attractive financial profile and durable customer relationships. We will work closely with John Connelly and the company’s world-class leadership team to advance the growth plan and achieve their long-term vision for the business.”