Las Vegas-based casino industry adviser Union Gaming Group announced it has opened an Asian office to service the growing gaming markets in the region.
The company, which established an equity research office in Macau in 2011, announced it has received approval to offer investment banking services in Hong Kong by the Macau SAR’s Securities and Futures Commission.
In a statement, Union Gaming Managing Director Rich Moriarty said the focus for gaming industry expansion over “the next 20 years belongs to Asia.”
Macau is the world’s largest gaming market with nearly three dozen large and small casinos, with expansion occurring or near in the Philippines, Vietnam, South Korea and elsewhere in the region.
“We want to make sure that our commitment to the region fully reflects the opportunity that we believe exists,” Moriarty said.
Union Gaming Securities Asia Ltd. named Carrie Yu as a the office’s director. She formally worked with JP Morgan Asset Management in New York, where she was responsible for covering the global gaming sector. Union Gaming said it will maintain its equity research division, headed by Grant Govertsen, in Macau.
Union Gaming has equity research offices in Las Vegas and New York.
