Promising Financial Outlook for 888 Holdings: Buy Rating Backed by Strategic Margin Enhancements and Cost SavingsWe continue to see material long-term equity upside as leverage reduces (<3.5x target by end-FY27E). Case implies c7.5x EV/EBITDA for FY26E. Detail Key 3Q25 numbers. Group revenues +5% (+4% cc) to £435m.Divisional performance. UK&I Online revenues +1%, with sports (+8%) lifted by sports margins and iGaming -2% following marketing reallocation, though both 888 brands delivered double-digit contribution growth.