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PE firms make big bets on gambling

Betting industry’s cash flow offers an attractive lure for buyout shops hoping to hit the jackpot

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Private equity and venture capital managers are betting big on the global gambling market.

From casinos to sports betting apps, the buyout industry is hoping to strike lucky with a record flurry of recent investments into the sector.

Blackstone struck what is set to become the largest ever industry deal last month, buying Australia-based casino...