ICYMI . . . Worthwhile read from equity analyst George Salmon from Hargreaves Lansdown, who writes that "while gambling is clearly big business, there are challenges facing the industry too." He goes on to assess the odds of success for some of the bigger players.

Some highlights:

The threat of reform is nothing new but it can’t be ignored that short-term sentiment is likely dependent on the outcome of the government’s triennial review, expected this year. A complete ban would hurt the big high street names, but if the review’s bark is worse than its bite, their shares could be in line for a re-rating.
Online and mobile is one area of the industry under less regulatory scrutiny. The UK’s remote gambling market is expected to grow by 7% a year between now and 2021. That compares with a high street market set to grow by around 2% per annum, including a meaningful contribution from machines. Of course, Ladbrokes and William Hill each have a sizeable presence in the online sphere, but for both businesses it represents less than 40% of profits. Two companies investors could consider to gain more exposure to the online markets are Paddy Power Betfair and 888 Holdings.
This article is not advice or a recommendation to buy, sell or hold any investment. No view is given on the present or future value or price of any investment, and investors should form their own view on any proposed investment. This article has not been prepared in accordance with legal requirements designed to promote the independence of investment research and is considered a marketing communication.
Read the entire article here: http://www.hl.co.uk/news/articles/do...-uk-bookmakers