Las Vegas Gaming Wire
LAS VEGAS, Nevada -- Wall Street investment house Deutsche Bank dropped its research coverage of the free online casino gaming industry's equity side this week and its Las Vegas-based analysts formed an independent research and advisory firm.
Bill Lerner, who moved Deutsche Bank's equity gaming research office to Las Vegas in 2006 to be near the industry's casino games major companies, will head Union Gaming Group with Rich Moriarty, Deutsche Bank's former and institutional sales director, and former Deutsche Bank analyst Grant Govertsen.
Lerner said the move follows a trend started by equity analysts in other industries, in casino online which small, independent research firms have been formed, breaking away from Wall Street's research structure and the association with a large bank.
"There's a growing call for independence in research," Lerner said. "We plan on free bingo
providing very specific market insight and advise the industry and investors."
He said clients being targeted by Union Gaming include institutional investors, gaming companies and the government entities.
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