Investment bankers have struggled to shrug off the derogatory moniker of casino bankers, but Red Rock Resorts is a case in which the label was deserved. In this case Deutsche Bank was both lead underwriter and, thanks to an earlier bankruptcy, owner.
Biotechnology IPOs were back last week after a month’s hiatus in US ECM, with two deals expected to price.
MGM Resorts International had little difficulty drumming up interest in its new casino REIT, securing high-end pricing on the carve-out IPO of MGM Growth Properties. The outcome was not entirely unexpected as lead underwriters saw demand build early in the marketing process and