CBRE acquires Union Gaming
Real estate investment firm CBRE Group has acquired Union Gaming, a Las Vegas-based boutique investment bank and advisory firm focusing on the gaming sector.
“Union Gaming fortifies CBRE’s position as a leader in the fast-growing global gaming sector,” said CBRE Capital Advisors Managing Principal James Scott.
“We are excited to add to our investment-banking depth through the addition of Union’s talented professionals, deep relationships across the gaming sector and public-market capabilities.”
Union Gaming’s employees will merge with CBRE’s gaming investment sales team from Las Vegas, led by Michael Parks, to form a bigger global gaming team, with Union Gaming’s co-founder Bill Lerner serving as Global Head of Gaming Investment Banking at CBRE.
“We built Union Gaming on our singular commitment and belief in the long-term prospects for the gaming sector,” said Lerner. “Whether it’s the realisation of casinos’ underlying real estate value, the evolution of new gaming formats and technology, expansion of gaming in Asia, or recent surge of sports and online gaming, there is no better partner to continue our commitment to this next chapter of the business than CBRE.”
Union Gaming has offices in Las Vegas as Hong Kong and specialises in investment banking services, including public debt and equity underwriting, M&A and strategic advisory.
The company also does research and analysis on the gaming market, including various casino operators. In turn, CBRE Group is a Fortune 500 and S&P 500 company, a commercial real estate services and investment firm. The company has more than 100,000 employees serving clients in more than 100 countries, according to the statement.
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