CBRE Group, Inc., a Dallas-based real estate investment firm, announced the acquisition of Las Vegas-based Union Gaming, a leading boutique investment bank and advisory firm focused exclusively on the global gaming sector.
Union Gaming offers investment banking services, including public debt and equity underwriting, M&A and strategic advisory, as well as gaming sector thought leadership through its sector-leading research.
“Union Gaming fortifies CBRE’s position as a leader in the fast-growing global gaming sector,” said James Scott, managing principal of CBRE Capital Advisors. “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 and CBRE’s existing Las Vegas-based gaming investment sales team led by Michael Parks will form a combined global gaming team. Bill Lerner, Union Gaming’s co-founder, will serve as CBRE’s global head of gaming investment banking.
“We built Union Gaming on our singular commitment and belief in the long-term prospects for the gaming sector,” Lerner said. “Whether it’s the realization of casinos’ underlying real estate value, evolution of new gaming formats and technology, expansion of gaming in Asia, or the 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.”
CBRE Group is a commercial real estate services and investment firm. The abbreviation CBRE stands for Coldwell Banker Richard Ellis. It’s the largest commercial real estate services company in the world.