Hi Tom The S in "king's" and the first "S" in "stables" are pronounced differently, so I would say no. Although it might be hard to clearly hear both of those S-sounds if someone were speaking quickly, I do think most native speakers would say both -- or try to. However, it does seem to me that the collocation "king's stables" would be likely to cause some pronunciation difficulty if you tried to say it too fast.
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