G3 Interview INTERBLOCK
R&D spend,” describes Mr. Connelly. “Market penetration is a key strategic goal and an enormous opportunity for the company. Around 70 per cent of all casinos in the US have never placed an Interblock product. It’s a figure that presents a tremendous opportunity for the business.”
One of the things that Mr. Connelly quickly identified, was that Interblock is a gaming brand focused on the ‘A’ category casino. The company supplied a premium gaming product for the highest level gaming operations around the world, which is, ultimately, a limiting factor. “We initiated a product segmentation strategy in the same way that Mercedes structures is car line-up,” explains Mr. Connelly. “Mercedes employs various levels of product segmentation, encompassing the C-Class, E- Class and S-Class in its range while still providing the same level of quality and luxury associated with the brand. Interblock has expanded its product offering along the same lines.”
Having opened offices in Sydney, Macau and Latin America this year with the goal of building the best team in gaming, Mr. Connelly describes 2015 as a ‘solid year.’ While the majority of time spent has been focused on infrastructure and the organisation at the global level, it’s obvious that the Interblock is now a highly attractive acquisition target. Questions about the possible sale of the business, however, are met with a typically enigmatic response. Mr. Connelly simply states that the owners of
“The fact that it was a private business presented for me an amazing opportunity. This is a business that’s focused on the mid-term, as opposed to a quarter-by-quarter strategy,
something that’s reflected in the decisions we have made in 2015.”
the private business are open to any and all options that would bring long-term shareholder value to the company.
“As a company, we will continue to operate with a sense of urgency, though we feel confident we’ll see significant growth in our market segment,” states Mr. Connelly. “Coming from such an amazing situation at Bally (John Connelly was formerly Senior Vice President of Business Development and Interactive at Bally Technologies), Interblock resonates the most as a brand that’s globally recognised. Our core product offering is viewed as one of the best in the business, yet the company is a private business, with tremendous opportunities to bring the
best-in-class solutions on a global scale to the organisation. Just as importantly, we have an ownership structure that is willing and eager to both take the company to the next level and provide capital and resources necessary to achieve those goals.”
Asked what attracted him most to the role with Interblock, Mr. Connelly is candid about the opportunity that the company offered, having looked across the global casino industry for his next role after Bally. “I couldn’t find a better positioned, highly respected, regulated and licensed gaming business in the world,” says Mr. Connelly. “The fact that it was a private business presented for me an amazing opportunity. This is a business that’s focused on the mid-term, as opposed to a quarter-by-quarter strategy, something that’s reflected in the decisions we have made in 2015.”
Historically, Interblock as a company has been more focused on the sale approach to the market, which has been driven by cash-flow requirements. However, the ‘new’ Interblock is a company that is quickly evolving into a recurring revenue business as demonstrated by the most recent installations and soon-to-be confirmed installs worldwide. It’s a key success factor if Interblock is to maintain a market-leading position today. It’s another new direction that Mr. Connelly and his team are taking on a path that’s just as exciting as our VR tour - but where the 3D casino was a future space - this journey is very, very real.
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