International edition
September 23, 2021

The firm will provide boutique services to global industry leaders

Gaming industry veterans launch Union Gaming Group

(US).- Top gaming industry analysts Bill Lerner, Rich Moriarty and Grant Govertsen announced today the formation of Union Gaming Group, their new boutique research and advisory firm. Based in Las Vegas, Union Gaming Group becomes the only independent research organization located in the world's gaming capital.


nion Gaming Group is an independent research and advisory firm focused on the global gaming marketplace, providing services to government and industry. The company offers independent research products and services that are rooted in the extensive industry expertise and insight of the founders, all of whom have deep relationships with the investment community, corporate managements, governments and other parties important to the global gaming business.

"Union Gaming Group has been created in response to the growing call for independence in research, very specific market insight, and unbundling of fees," said Bill Lerner. "We understand that focused industry expertise, local market presence in Las Vegas, and global relationships across the sector are tremendous advantages for clients who increasingly demand specific and highly relevant research and analysis."

Bill Lerner has spent 13 years on Wall Street in sell side research, most recently as Managing Director and Senior Gaming & Lodging analyst at Deutsche Bank Securities. This followed ten years at Prudential Securities and Deutsche Morgan Grenfell. Lerner has been recognized by Institutional Investor as part of its "All American Research Team" and Wall Street Journal's "Best of the Street."

Rich Moriarty has spent 12 years on Wall Street in institutional equity sales, most recently as Director, Institutional Client Group at Deutsche Bank Securities in its North American Headquarters. This followed nine years at Lehman Brothers Inc., now Barclays Capital, and Susquehanna International Group.

Moriarty has led several landmark equity and equity-linked transactions in the gaming space, notably: Wynn Resorts, Boyd Gaming, Melco-Crown and Shuffle Master Incorporated. In 2008, Moriarty was recognized in Institutional Investor's annual poll for "Best Sales - Gaming and Lodging."

Grant Govertsen has spent five years on Wall Street as a gaming analyst. Prior to joining Deutsche Bank, Govertsen worked at several boutique economic consulting firms where he had primary responsibility for feasibility and market studies related to gaming and real estate developments.

"Never before has there been a greater need for increased tax revenues at the local, state and federal level," Govertsen added. "Gaming expansion is a viable solution to fulfill those needs."

"The global gaming industry, despite current sentiment, is alive and well," said Rich Moriarty. "Union Gaming Group is the only independent firm headquartered in Las Vegas, because we understand the importance of working side-by-side with the leaders in industry and government from the global hub of the business. We have deep expertise and understanding of the challenges and opportunities within the gaming industry, because we are completely focused on this sector," he concluded.

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