Gambling’s a gamble

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By Silas Brown
05 Sep 2019

The US private placement market is set to host its first gambling firm from the UK and Ireland this month. Paddy Power's PP could herald a stream of trades from the sector, but investors should beware the risks of herding into any old deal offered to them.

Well regarded by the market as a stable credit with low leverage and a wide reach, Paddy Power is sure to successfully sell its notes. But, a word of warning: gambling is an industry fraught with risks — and they aren’t all borne by its punters. 

After liberalisation in ...

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