"Union Gaming strengthens CBRE's position as a leader in the rapidly growing global gaming sector," stated James Scott, Managing Principal of CBRE Capital Advisors.
"We are excited to add Union's talented professionals, deep relationships across the gaming sector, and public-market capabilities to our investment-banking depth."
Employees from Union Gaming will join CBRE's gaming investment sales team in Las Vegas, managed by Michael Parks, to establish a larger global gaming team, with Union Gaming co-founder Bill Lerner acting 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," Lerner explained. "Whether it's the realisation of casinos' underlying real estate value, the evolution of new gaming formats and technology, the 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."
Union Gaming has offices in both Las Vegas and Hong Kong and specialised in investment banking services such as public debt and stock underwriting, mergers and acquisitions, and strategic advising.
The organisation also conducts gaming market research and analysis, including interviews with various casino owners. CBRE Group, a commercial real estate services and investment corporation, is a Fortune 500 and S&P 500 company. According to the statement, the corporation employs over 100,000 people who serve customers in over 100 countries.
