Cherry presented their report for the second quarter of 2016 this morning. Compared to our estimates the revenue level was almost spot-on, but the EBIT was a bit lower. The deviation was almost entirely explained by higher than anticipated market investments following the newly launched sites and the sportsbook, investing for the future growth is positive in our view. Yggdrasil continues to impress with their performance, and we will most likely have to raise our estimates for the segment following the report.