Interblock has made a shock announcement that John Connelly will step down from his role as Global CEO at the supplier. He will be succeeded by Bala Ganesan, former interim COO and Managing Director at Oaktree Capital Management.
How will Connelly be remembered at Interblock?
Connelly joined Interblock in January 2015, just over 10 years ago, when he was appointed as Global CEO. The company chose him for his strategic leadership, hoping to accelerate the company’s growth across multiple jurisdictions simultaneously.
At the time, the company had a very small customer base, a limited product portfolio and its sales model relied on the ups and downs of the global economy. Connelly had an uphill battle in diversifying Interblock's revenue stream.
He got to work immediately, building a broader product offering and attracting new player demographics along with them. He would push the business into an Electronic Table Game (ETG) renaissance and move away from mechanical roulette products to reinvent what could be installed on casino floors.
Within just a few years, Interblock was active in more than 350 operational markets across 145 countries, with more than 200 variations of its products found on gaming floors around the world.
What did Connelly achieve at Interblock?
In 2019, the company won the Global Gaming Awards’ Land-Based Product of the Year for its Stadium product line.
When Covid-19 hit the land-based sector one year later, Interblock rose to the challenge and created the Interblock Covid-19 Prevention Kit, including protective covers for terminals to ensure player safety while preserving the casino atmosphere.
When speaking to Global Gaming Insider last year, Connelly explained that: “Coincidentally, the timing of the pandemic aligned with years of R&D that were scheduled to hit the market, providing us with a strategic advantage – particularly as casinos around the world were forced to close their traditional table games.”
In 2022, Interblock was acquired by Oaktree Capital, a global investment firm with a gaming portfolio and background within the space. This would strengthen the company’s financial foundations and was seen as a compliment to Interblock’s growth over the previous seven years.
Interblock returned to the Global Gaming Awards in 2023, affirming its leadership in ETG innovation. The supplier also took its first steps into iGaming through a strategic partnership with Awager for live streaming and an RGS license from Black Cow Technologies, helping create an even more diversified revenue stream.
A new M&A chapter – and a new gaming category
Later in 2023, Connelly would sign off on a major business deal. “One of the most memorable days in the past 14 years was when Aruze announced they were going bankrupt [not in a disparaging way], but because it was an opportunity for us, due to the respect I had for them; I believed it was a very complimentary product offering to Interblock,” he said.
The company would then acquire Zuum Limited in 2024, a producer of Class II and Class III ETGs, slots and bingo products. This meant that Interblock could offer a wider range of machines at different price points: both diversifying its product portfolio and client base.
“Zuum substantially increased our penetration into casinos that had a lower net win per day and had historically been unable to afford Interblock’s products,” Connelly explained. “We often use the Mercedes-Benz analogy: S-Class, E-Class and C-Class. It’s still Mercedes; however, each subset is targeted toward a different demographic profile. With Zuum, we can now address all three segments, which opens up the world for us.”
Indeed, the former CEO's name will always be associated with Interblock's history, along with his obvious passion for the product and drive for the overall industry
Connelly was not just pushing the M&A teams, but R&D, too. In October 2024, Interblock launched Amuse, a new genre of arcade-style products, such as Marble Run, Bingo, Dragon Roulette, Roulette Xplosion and Free Fall Roulette.
Throughout all of these achievements, Interblock would continue to solidify its relationship with Tribal casinos across America.
“I think most people fail to appreciate how large and influential the Tribal casino market is,” Connelly said. “We have invested a tremendous amount of time and money focusing on products designed for various-sized casinos within this sector.”
Of course, all of this was only attainable through Connelly’s approach to learning and developing as a company. Connelly explained that when the supplier does “see something of interest,” it is not the type of organization to say, “no one can do anything better than us.” “If we see something that’s innovative, we’ll learn from it, and we’ll then attempt to do something that’s even more transformative.”
How did Connelly look back on the start of his Interblock journey?
Prior to joining Interblock, Connelly served as a member of Bally Technologies’ executive committee, first joining the company in 2004 as its VP of New Business Development and Government Relations, before being promoted to SVP of International a year later. By 2014, Connelly was part of the executive committee and held the role of SVP of M&A and Business Development for the company.
He previously told us: “While an executive at Bally, I had the opportunity to evaluate dozens of companies within the gaming sector. It was at this point I became familiar with Interblock and evaluated a new area of the casino floor, which appeared to have tremendous potential.
“Upon the sale of Bally, I began evaluating various aspects within the gaming sector that I felt were still in their infancy but had strong growth potential. From my experience, Interblock demonstrated to have the necessary components to compete within the traditional casino space and attract an entirely new segment of global gaming. It was then that I made the decision to partner with Interblock’s Founder and subsequently joined the company in 2015.”
After multiple Global Gaming Awards, conference appearances, M&A deals and Huddle interviews (including also being a cover star on a magazine), Connelly is ready for his next step. But his contribution at Interblock will never be forgotten.
Indeed, the former CEO's name will always be associated with Interblock's history, along with his obvious passion for the product and drive for the overall industry. Although that chapter is now over, it was some journey for both.
In 2024, John Connelly was inducted into Vegas Inc.’s C-Suite Honors, which recognizes some of the top executives in Nevada
