EFTA Document EFTA01385346

3 January 2018 HY Corporate Credit HY Multi Sector.Media. Cable & Satellite Increased MZA Activity Facing a lack of new greenfield opportunities, gaming operators have once again shifted their focus to M&A activity in order to fuel growth. M&A activity remained fairly tepid from 2009 until 2015. However in 2016, strong fundamentals, low cost of capital, high valuations and the involvement of gaming REITs resulted in a significant increase in transactions. This momentum has extended into