Global real estate brokerage CBRE acquires Union Gaming
Real estate investment firm CBRE Group Inc acquires Union Gaming, a boutique investment bank and consulting firm dedicated exclusively to the global gaming sector. The deal was confirmed by both parties on Wednesday.
Neither party has disclosed any financial details of the acquisition.
Union Gaming was founded in 2008 and has offices in Las Vegas, Nevada, USA, and Hong Kong.
The brokerage company has been involved in a number of financial agreements on behalf of casino operators in Asia. In June, it was announced that Union Gaming was the marketing agent private posting of notes from Japan’s Universal Entertainment Corp, the parent company of the promoter of the Okada casino resort in Manila (pictured) in the capital of the Philippines.
The Union Gaming Group offers investment banking services, including public debt and equity underwriting and advisory services. He also conducts gambling market research covering a number of registered casino operators, including those in Asia.
CBRE describes itself as “the world’s largest commercial real estate and investment services firm” based on 2020 revenues. It is located in Dallas, Texas, USA and has offices in many other countries.
“Union Gaming is strengthening CBRE’s position as a leader in the fast-growing global gaming sector,” said James Scott, Managing Director of CBRE Capital Advisors, quoted in a CBRE press release. CBRE Capital Advisors is CBRE’s investment banking business.
Mr. Scott added: “We are delighted to expand our investment banking business with talented Union professionals, close relationships in the gaming sector and public market opportunities.”
CBRE said in a press release that Union Gaming employees and the Las Vegas-based CBRE gaming investment team led by Michael Parks will form a combined global gaming team. Bill Lerner, co-founder of Union Gaming, will become CBRE’s global head of investment banking for the gaming industry.
In a press release from CBRE, Mr. Lerner is quoted as saying: “Whether it’s realizing the value of real estate that underpins casinos, the development of new gaming formats and technologies, the spread of games in Asia or the recent surge in sports and online gaming, there is no better partner. to continue our commitment to this next chapter of business than CBRE. “