Equity Research

Our research teams are the only based in Las Vegas and Macau, and cover the most comprehensive universe of gaming and gaming technology companies across the globe.

We believe our placement in the Las Vegas and Macau communities allows us to deliver a level of research and insight very different than that of our peers. It is our integration into these communities and years of developed relationships that significantly benefit our global client base.

Our capabilities include but are not limited to the following:

Single Stock Company Research – High frequency of published research reports providing fundamental analysis and proprietary insight on the largest universe of gaming companies across the globe. We maintain an extensive database of detailed company financial models across our coverage universe.

Industry Macro Research – High frequency of published research reports identifying key issues and evolving trends in existing and emerging gaming markets.

Detailed Jurisdictional Analysis, Revenue Trends and Forecasts – Detailed historical gaming (and non-gaming where available) revenue and visitation datasets for all relevant global gaming jurisdictions.

Coverage Universe

Las Vegas Strip

Las Vegas Sands (LVS.US)
MGM Resorts (MGM.US)
Wynn Resorts (WYNN.US)

Macau Concessionaire

Galaxy Entertainment (27.HK)
Melco Resorts & Entertainment (MLCO)
MGM China Holdings (2282.HK)
Sands China (1928.HK)
SJM Holdings (880.HK)
Wynn Macau (1128.HK)


Genting Singapore (GENS.SP)


Dynam Japan Holdings (6889.HK)

Frontier Market

Delta Corp Limited (DELTA-IN)
NagaCorp (3918.HK)
Summit Ascent Holdings (102.HK)

U.S. Regionals

Century Casinos, Inc. (CNTY.US)

Penn National Gaming (PENN.US)
Pinnacle Entertainment (PNK.US)
Eldorado Resorts (ERI.US)

Monarch Casino & Resort (MCRI.US)

Las Vegas Locals

Boyd Gaming (BYD.US)
Golden Entertainment (GDEN.US)
Red Rock Resorts (RRR.US)

Casino REITs

Gaming & Leisure Properties (GLPI.US)
MGM Growth Properties (MGP.US)
VICI Properties, Inc. (VICI.US)

Gaming Technology

International Game Technology (IGT.US)
Scientific Games (SGMS.US)

Research is available via Bloomberg, FactSet and email. For more information, please contact:

Grant Govertsen

Managing Director, Head of Asia Equity Research


John DeCree

Director, Head of North America Equity/High Yield Research


Richard Moriarty

Managing Director, Head of Global Distribution


Rabekah Denrich

Head of Corporate Access & Broker Liaison