BUZZ-Ladbrokes Coral: CS downgrades stock
** British bookmaker Ladbrokes Coral (LSE: LAD.L - news) down 2.4 pct after Credit Suisse (IOB: 0QP5.IL - news) downgrades to "Underperform" from "Neutral"; TP 110P from 133P
** CS analysts see more risk in Ladbrokes Coral than to rival William Hill (Frankfurt: 633847 - news) from the anticipated Triennial Review
** CS analysts say risk of the maximum stake from gaming machines being cut to 2 pounds from 100 pounds has materially increased since the UK election
** The 2 pound limit would hit profits by c.40 pct at William Hill and c.50 pct at Ladbrokes (Amsterdam: LB6.AS - news) , CS estimates
** Ladbrokes Coral, created when Ladbrokes joined forces with Coral in a $3.4 bln merger last year, has earlier defended betting terminals amidst speculation of a government crackdown on the profitable gambling machines
** British lawmakers said last year that the country should drastically reduce the amount of money gamblers can stake on fixed-odds betting terminals to tackle addiction and associated crime
** CS upgrades Paddy Power Betfair (Other OTC: PDYPF - news) to "Outperform", calling it the preferred stock in UK gaming sector (Reuters Messaging: noor.hussain.thomsonreuters.com@reuters.net)