Mr Green’s report for the last quarter of 2016 beat our forecast on all accounts. The intensive works that the company has implemented in recent years are now starting to impact the reported numbers. We believe the growth trend shift is now more or less confirmed; our hypothesis is supported by the rising active customers and deposits. After the period had ended, Mr Green acquired the Danish gambling operator Dansk Underholding, and thereby enters the Danish market. We have raised our top-line estimates given the strong revenue momentum, a promising outlook for 2017 and the recent acquisition. We raise our Fair Value estimate, in Base-case, to 65 (63) SEK per share. Today the share is trading below to our Bear-case of 39. We believe the market continue to focus on the past and not on where the company is heading.