x <-"Good luck!!!!SPRINT I like good deals. I can't lie brand-new stuff---- excites me got&&&&& to say yo, At&t why? a* dash-- apostrophe's''' I can do all-day. But preventing%%%%concatenating  is a new**$ballgame but----why--- not?"
 
gsub("\\s*(?:(?:\\B[-'&]+|[-'&]+\\B|[^-'&[:^punct:]]+)\\s*)+", " ", x, perl=TRUE)
 
#[1] "Good luck SPRINT I like good deals I can't lie brand-new stuff excites me got to say yo At&t why a dash apostrophe's I can do all-day But preventing concatenating  is a new ballgame but why not "

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