Union Gaming Group to begin publishing research

Howard Stutz

July 13, 2009 - 5:07 am

Las Vegas-based Union Gaming Group will begin publishing financial recommendations on the companies it follows.

This comes several months after three former Deutsche Bank research analysts formed Union Gaming.

Union Gaming will follow 17 global gaming companies, both public and private casino operators and gaming equipment suppliers worldwide.

“As the only sell-side research team in Las Vegas, we now provide unparalleled access and comprehensive insight into the global gaming market, giving our clients a truly robust view of this challenging industry,” said Bill Lerner, principal and senior analyst at Union Gaming.

Union will not use traditional ratings and price targets.
“Given the complexities of markets today, investors require tailored service and deep industry expertise, rather than the traditional one size fits all model,” Lerner said.

Union Gaming said it would follow American casino operators Ameristar Casinos (ASCA), Boyd Gaming (BYD), Harrah’s Entertainment (private), Isle of Capri (ISLE), Las Vegas Sands (LVS), MGM Mirage (MGM), Penn National Gaming (PENN), Pinnacle Entertainment (PNK), Wynn Resorts (WYNN), and Station Casinos (private).

The company will follow gaming equipment providers Bally Technologies (BYI), International Game Technology (IGT), Shuffle Master (SHFL) and WMS Industries (WMS).

Union Gaming will also follow Macau casino operators Galaxy Entertainment (traded on the Hong Kong Stock Exchange), Melco-Crown (MPEL) and Sociedade de Jogos de Macau (Hong Kong Stock Exchange).

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