At Union Gaming, we believe our people are what truly set us apart. The team is a diverse mix of Wall Street and gaming industry professionals, and the tying of the two together across institutional research, sales and trading, investment banking, and Analytics, allows us to serve our clients in a unique and differentiated way.
Managing Director, Global Syndicate, Hong Kong
Rich Moriarty co-founded Union Gaming in 2009 after spending 12 years on Wall Street predominantly in specialty sales and distribution roles. Prior to the formation of Union Gaming, Mr. Moriarty acted as a Director within the Institutional Client Group at Deutsche Bank, leading several landmark equity and equity-linked transactions in the global gaming space over his tenure, as well as specialty distribution roles at Lehman Brothers, now Barclays Capital, and Susquehanna International Group.
Managing Director, Head of Asia Equity Research, Macau
Grant Govertsen co-founded Union Gaming in 2009 after spending 12 years on Wall Street predominantly in equity research covering the gaming sector. Mr. Govertsen was responsible for establishing and developing the company’s presence in Asia in 2011, and today remains the only gaming analyst based in Macau. Prior to Union Gaming, Mr. Govertsen was based in Las Vegas with Deutsche Bank Securities covering global casino operators and gaming technology companies. Mr. Govertsen began his career in the financial services industry with Coopers & Lybrand, now PricewaterhouseCoopers (PWC).
Managing Director, Head of Investment Banking Asia, Hong Kong
Byron Yip joined Union Gaming in 2016 from Deutsche Bank where he spent over 8 years with Deutsche Bank providing investment banking services to global gaming companies. His transaction experience covers geographies ranging from Macau, Singapore, the Philippines, Vietnam and Russia. Mr. Yip was also an investment banker at TD Securities based in Toronto, Canada and began his career with Deloitte & Touche LLP. Mr Yip holds a Bachelor of Commerce degree from Queen’s University and a MBA from the Yale School of Management.
Managing Director, Head of Global Capital Markets, Hong Kong
Hemant Sabherwal joined Union Gaming in 2017 to run the global capital markets business. He has over 16 years of investment banking experience and has led many landmark equity transactions. He joined Union Gaming from Deutsche Bank, where he ran the Asia block trade business from 2011 – 2016, raising primary equity capital and monetizing stakes for a host of corporates, financial sponsors and wealthy individuals across all sectors in the region. Prior to that, he ran Hong Kong, Korea and Taiwan equity capital markets for Morgan Stanley (2009 – 2011). Hemant started his career with Merrill Lynch (2000 – 2009) where he had a number of capital markets and investment banking roles in London and Hong Kong.
Director, Head of Structured and Leveraged Finance, Hong Kong
Jack Hernandez joined Union Gaming in 2016 to focus on debt finance in Asia and North America after spending 10 years in investment banking. Prior to Union Gaming, Mr. Hernandez worked at Deutsche Bank in Hong Kong for 3 years focused on Structured Finance in Macau, India and Southeast Asia. Previous to his work in Hong Kong, Mr. Hernandez worked at Deutsche Bank in New York for 7 years focused on Leveraged Finance in the gaming, lodging and leisure industry. Mr. Hernandez graduated from Indiana University with a dual major in Accounting and Finance.
Associate, Asia Equity Research, Macau
Felicity Chiang was the first to join Union Gaming in Asia, opening the Macau office in 2011 alongside Grant Govertsen. Prior to joining Union Gaming, Ms. Chiang graduated from Imperial College in London, where she received the Special Scholarship issued by the Macau Government in 2007, and has a Msci (HORNS) in Chemistry and Medicinal Chemistry. Day to day responsibilities for Ms. Chiang include proprietary research, financial modeling, and client relations. Ms. Chiang was born and raised in Macau.
Managing Director, Head of Investment Banking, Las Vegas
Bill Lerner co-founded Union Gaming in 2009 after spending 14 years on Wall Street in sell-side research, and currently leads the firm’s investment banking practice. Prior to Union Gaming, Mr. Lerner was Managing Director and Senior Gaming & Lodging analyst at Deutsche Bank Securities, which followed ten years at Prudential Securities and Deutsche Morgan Grenfell. Mr. Lerner has been recognized by Institutional Investor as part of its “All American Research Team” and Wall Street Journal’s “Best of the Street.”
Managing Director, Head of Union Gaming Analytics, Las Vegas
Rich Baldwin joined Union Gaming in 2013 to lead Union Gaming Analytics. Mr. Baldwin has spent over 20 years in corporate finance, capital markets, investor relations and general management spanning the global gaming industry. Prior to Union Gaming, Mr. Baldwin held several executive-level positions in the gaming industry, including Chief Financial Officer at Tropicana Entertainment, Executive Vice President & Chief Financial Officer at Shuffle Master Gaming (NASDAQ: “SHFL”) and Director of Corporate Finance & Investor Relations at International Game Technology (NYSE: “IGT”) and Anchor Gaming (NASDAQ: “SLOT”). Mr. Baldwin started his career on the client service side with Deloitte.
Managing Director, Chief Operating Officer, New York
Michael Glynn joined Union Gaming in 2012 and oversees the firm’s global risk, operations and compliance efforts. Mr. Glynn has over 19 years of leadership experience in the financial services industry, most recently as Chief Compliance Officer of Topeka Capital Markets and Director of Operations at Kellogg Partners. Mr. Glynn has also held leadership positions at Spear Leads and Kellogg, Fleet Securities and Morgan Stanley.
Director, Head of North America Equity/High Yield Research, New York
John DeCree has spent 10 years in capital markets focusing on the casino and gaming industry. Mr. DeCree joined Union Gaming in 2014 to focus primarily on North America equity research. Prior to joining Union Gaming, Mr. DeCree served as an equity research analyst at Telsey Advisory Group, covering the global gaming, lodging, and leisure sectors alongside Mr. Christopher Jones. Previous to his tenure at Telsey, Mr. DeCree spent 5 years in leveraged finance at The GMS Group focusing on the global gaming industry.
Vice President, Union Gaming Analytics, Las Vegas
Michael Greene joined Union Gaming Analytics in 2014, after spending 14 years in various corporate finance, investment banking, investor relations, and private equity roles within the real estate, gaming, and lodging industries. Prior to Union Gaming, Mr. Greene managed the investor relations department at International Game Technology (NYSE: “IGT”). Previous to his tenure at IGT, Mr. Greene was vice president of a private equity firm focused exclusively on the lodging industry and worked in the corporate finance department at Pinnacle Entertainment (NYSE: PNK). Mr. Greene started his career in their real estate, gaming, and lodging department of Bear, Stearns, & Co.
Vice President, Union Gaming Analytics, Las Vegas
Bill Allsup joined Union Gaming Analytics in 2014 after 10 years of corporate finance, business development and investor relations experience in the gaming industry. Prior to joining Union Gaming, Mr. Allsup served as a senior financial analyst at Anchor Gaming and in the corporate finance and investor relations department at International Game Technology (NYSE:IGT). Mr. Allsup also worked as a controller in the business development department at Aristocrat Technologies, Inc. Mr. Allsup started his career in finance at Barclays Global Investors and received a B.A. from The University of Washington.
Vice President, Investment Banking, Las Vegas
Kyle Lim joined Union Gaming in 2017 after spending 10 years on Wall Street. Prior to joining Union Gaming, Mr. Lim worked as an investment banking and corporate development professional at Three Keys Capital, Cowen & Company, Guardian Life and UBS providing corporate advisory services to financial services and technology companies. Mr. Lim graduated from Brigham Young University with a bachelor’s degree in finance.
Analyst, Union Gaming Analytics, Las Vegas
Eric East joined Union Gaming in June 2014 as an intern and joined the Analytics team as an analyst in September 2014. Mr. East previously worked at American Assets Capital Advisers, a real estate focused investment manager, concentrating on analyzing gaming stocks during his tenure. Mr. East graduated from Rice University with a B.A. in economics and history.
Chief Administrative Officer, Las Vegas
Rabekah Denrich joined Union Gaming in 2015 to oversee and manage day-to-day office operations. Ms. Denrich previously spent four years in the entertainment industry, starting out at Lionsgate Entertainment as an executive legal assistant to the Executive Vice President of Business and Legal Affairs, before moving on to be a legal assistant at a leading boutique entertainment law firm in Beverly Hills, California. Prior to that, Ms. Denrich worked as an administrative assistant and assistant office manager in a healthcare insurance law firm in Baltimore, Maryland. Ms. Denrich graduated from the University of Maryland, College Park with a Bachelor’s Degree in Communication.