Good morning, welcome to this presentation with Betsson. With us today, we have CEO Pontus Lindwall and CFO Martin Öhman. My name is Kristoffer Bergen. I will handle the Q&A session after the presentation. If you have any questions, please write them on the site or dial in and follow the instructions. With that said, I hand over the word to Pontus. Please take us through your quarterly report. Thank you, Kristoffer. Hello, everybody. Welcome to the presentation of 2021 second quarter by Betsson. What happened to this one? Here we go. Here's an outline of the presentation today. We're going to start off with some highlights, then an operational update and strategic initiatives. Martin will take financials. I will do a trading update, and we'll talk about the regulatory update as well. There's the summary and the Q&A. Start off with the highlights. It's been a very successful quarter, and we're really proud to announce revenues of SEK 1.8 billion, which is a 14% growth compared to the same quarter last year. We have all-time high in active customers, with the first time passing 1 million active customers. We have the highest EBIT ever with SEK 383 million and an EBIT margin of 22%. Casino revenue was down 5% compared to a very different second quarter of the last year with the strong impact of corona at the time. Sportsbook turnover up strong 73% and all-time high sportsbook revenues up 125%. A set of really good figures, which we are proud about. How has this been created? It's a result of the strategy that we have and our scalable and sustainable business model. This is our strategy house, as we have named it, and I'm going to talk a little about the initiatives forming part of this strategy. As you can see, we are growing through several initiatives. First of all, existing markets. These are the markets where we are strong today, and these markets are really important for us in order to grow the business that we can keep on growing in the existing markets. On top of that, we try to grow in new markets, and we have many initiatives on new markets as well. LatAm, as an example, is comprising of both existing markets as Peru and new markets where we're entering now and about to enter. Betsson was the regional official betting sponsor of Copa América, and we reached several good KPIs by doing that. As an example, we were viewed by more than 10 million viewers with the Betsson sign when Argentina won the Copa. We could see a result of that, a really strong customer intake with NDCs increasing close to 400% compared to the same period of last year. This is something that we really celebrate, and we are proud of this achievement. More of new markets. During the quarter, we have launched our operations finally in Greece, which we have been longing for a long time. There's a sportsbook live today, and we're going to add casino and other products later on. We have also expanded by opening up in Eastern Europe through establishment in Republic of Belarus. On the B2B side and new markets, I'm going to talk a bit about what we do for the U.S. market. We have done some strategic investments. We acquired 35% in platform provider Strive Gaming, which we believe will have a very strong offering in the U.S. market. We have also acquired 50% of the shares in a company called JDP Tech, which is a payment company for the Latin American market. We have done some strategic collaborations, the agreement with Strive Gaming to provide their PAM platform to Betsson for the establishment in Colorado, in the U.S. market. We have also offered our platform and sportsbook to Masterpiece Gaming for operations in the German sports betting market for the time being. Continuing talking about the U.S., this is a market we have been working on since 2019, and we have done a lot of initiatives, and we follow a quite detailed roadmap where we have reached all the way to looking forward to opening up in the first quarter of next year. We have, during this quarter, kept on working on the sportsbook with U.S. adaptations, and we're now up for testing and certification, and we look forward to open up in first quarter next year. I'm going to explain a little bit more about the offering for the U.S. market and how that's split up between Betsson Group and Strive Gaming. Betsson Group, obviously, we are looking at the market for different prospects, and we supply our sports book to potential clients. We have invested in Strive Gaming, but that's a separate company, and they prospect the market for platforms, for PAMs, and they look for their clients. Of course, there's a combination where we will be able to supply both the PAM and the Betsson sports book together. This is how we will enter the U.S. market. I'm going to talk a bit about innovation, which is an important part to support our growth and what we have done in the quarter. We have done a lot of development on the sports book, which you can see from the figures has been very successful, and we have increased the offering a lot for the tournaments. We have continued the cloud journey to make the product more accessible for the customers, more responsive and fast. We have integrated tournaments to a number of different brands. We have released a large number of new casino games, and we have, as I mentioned previously, opened Betsson in Greece, which is a totally new offering, and it was opened early June. We have also supplied our sports book to our business-to-business partner Realm, who opened up a new offering called Rexbet. I'm going to talk about sustainability and our sustainability framework, which is divided into five different parts: business compliance, responsible gaming, employee impact, social impact, and climate impact. Within the responsible gaming area, we measure a few KPIs. This is an area which we work on heavily all the time. We have had 76,000 interactions with customers during the quarter. 1% of the customers that contacted the customer support was red-flagged, which means that they will be deeper investigated. 11% of the customers use our non-mandatory responsible gaming tools, so it's quite an attractive or it's a well-used functionality that we have there. 30% of our new customers have set a limit of what they can deposit to the site. Other activities during the second quarter within employee impact, we have implemented a hybrid working from home model. We have had leadership training for our managers, and 98% of those managers found this very important and relevant. We've had football-related, of course, employee activities during the tournaments. On the climate impact side, we have got our targets approved by a third party. We are working towards becoming even better within climate impact. That's where I'm supposed to hand over to Martin. Thank you, Pontus. Now it's time for Martin to present the financials in more details. Thanks. As seen from historical figures, Betsson has been able to deliver growth over the years, displaying a CAGR of 12% in the last five years, which is more than the underlying market growth. Due to seasonality in our business, Q1 and Q2 are normally periods with somewhat lower customer activity and revenue generation than the third and the fourth quarters. Keeping this in mind, I'm extra happy to see all-time high in operating profit in the second quarter this year. Revenue for the second quarter was SEK 1.75 billion, an increase of 14% year-over-year, although impacted negatively by currency fluctuations of almost SEK 180 million, displaying an organic growth of 24%. Casino revenue was SEK 1.22 billion, a decrease of 5% year-over-year, impacted by loss of revenue from Germany and U.K., which are casino-heavy markets. The decrease should also be seen in the light of casino revenue in Q2 last year being boosted by the lack of sporting events and temporarily transforming some sports book players to casino. The gross turnover in sports book was SEK 8.3 billion, which is an increase by 73% compared to the second quarter last year. Sports book margin was 8.5%, which is higher than the 6.9% last year and higher than the 8-quarter rolling average margin of 7.4%. The outcomes of the games in the initial part of Euros and Copa América is making up for the lower sports book margin in April and May. Sports book revenue increased by 125% and amounts to SEK 510 million, which is all-time high and represents 29% of the Group's total revenue. License revenue from system delivery to B2B customer grew from SEK 209 million in 2020 to SEK 273 million in 2021 and corresponds to 16% of the group's total revenue. The increase in revenue comes from sports book in all regions and from casino in all regions except Western Europe and the Nordics. When focusing on the Nordic region, we see an increase of almost 14% year-over-year, with sports book as the main driver. Sweden continues to develop well, and despite the corona-related restrictions on online casino, Betsson has increased its market share and showed the highest revenue since the re-regulation of the Swedish market in January 2019. The Danish operations is also developing well and shows growth year-over-year impacted by sports book in the Euro 2020. In Finland, the Ice Hockey World Championship and the Euro 2020 contributed to increased intake of new customers in the quarter. Betsson's commercial adaptation and its own technical solution has enabled the integration of new payment solutions, helping revenue in Norway to recover during the quarter. Revenue from Western Europe decreased by 27%, driven by decreased casino revenue, and is solely explained by decrease in revenue in U.K. and Germany. The strong growth in Italy in the past years temporarily slowed down as a result of the gradual reopening of the society after the pandemic, but still shows growth year-over-year. The CEECA region increased by 38%, where both sportsbook and casino contributed to the growth. Operations in the Baltics developed well, primarily driven by revenue growth in Lithuania, where sportsbook was positively affected by EuroLeague in basketball and the Euro 2020. Revenue in Georgia continued to increase year-over-year, the newly started licensed operations in Croatia show high level of activity and were able to show the highest level of revenue to date during this quarter. Revenue from the rest of the world grew by 121% compared to the same period last year, the growth comes from both sports book and casino. The region's growth is mainly driven by Peru and Chile, where Peru is one of Betsson's larger markets for sports betting and Betsson is market leader. Betsson was the official regional sponsor of CONMEBOL Copa América, which resulted in increased exposure of Betsson's brand and increased number of active customers in the LATAM region where Betsson is present. Pending a final regulatory framework for sportsbook in Brazil, Betsson operates on a horse racing license under which Betsson is allowed to market themselves and do local sponsorships. To mention some activities, Betsson sponsors Íbis Sport Club, who call themselves the worst football team in the world, which became a viral campaign. Another initiative, in order to establish a customer database and increase awareness of the brand in Brazil, has been the launch of Fantasy Football. Revenue from markets where Betsson pay local betting duties constitutes 32% of the group's revenue, which is a slight decrease year-over-year, mainly related to revenue drop in Germany. Looking on the cost side. Cost of service provided is more or less in line with last year, and gross profit amounts to SEK 1,173 million, which is an increase of SEK 188 million compared to the same period last year. Gross profit margin is 67%, which is higher than the second quarter last year and higher than the first quarter this year, mainly explained by product mix, where the share of sportsbook revenue has increased, in relation to total revenue. Betsson's proprietary sportsbook make the business model very scalable, and we therefore benefit from increased sporting activity, as we have seen in relations to the larger tournaments such as the Euros and the Copa América in this quarter. Marketing spend increased by SEK 66 million, compared to last year, and constitutes some 18% of revenue and 25% when also including affiliate marketing. I've previously mentioned us being the official sponsor of Copa América and the sponsorship of Íbis Sport Club in Brazil as marketing campaigns in the LatAm region. We've also focused resources in local European markets in relation to the Euro 2020, where the push of early payouts in the Nordic market is one example. Personnel cost has increased in the second quarter compared to same period last year due to scaling up the B2B organization and geographical expansion, including M&A and adding new employees. The SGA fine received last year in June was overruled by the Swedish Administrative Court in June this year. The fine impacted last year's figure by SEK 20 million negatively and this year's figure positively by the same amount due to the reversal of the provision made. Adjusting for the effect from the fine, the cost is more or less flat year-over-year. Cost spent on development on new market is in line with previous quarters and amounts to approximately SEK 50 million, and the business acquired in the past years has contributed with some 150 new employees. EBIT amounts to SEK 383 million, which is all-time high, an increase of 76% year-over-year, driven by revenue growth and increased share of sportsbook as part of the total revenue. EBIT margin is 22%. Organically, EBIT increased by 120% to SEK 478 million. On the cash flow side, cash flow from operating activities amounts to SEK 571 million, driven by operating income and positively impacted by changes in the working capital. Impact from working capital is mainly explained by refund of VAT claims in Malta. Cash flow from investing activities mainly relates to investment in our proprietary technology and the acquisition of shares in associated companies. Cash flow from financing activities impacted the cash flow by SEK 580 million, and relates to repayment of the RCF and dividend paid to shareholders. Last year, dividend was paid out in July and impacted the cash flow in Q3. During the second quarter, Betsson's RCF has been renewed, with one-year maturity and decreased from previous SEK 800 million to now SEK 500 million. As of end of June, the RCF was unutilized. Betsson has low leverage, and as of end of June, a net debt position of SEK 148 million, a net debt to EBITDA ratio of 0.1x, and an equity ratio of 62%. Okay. Thank you, Martin. We welcome back Pontus for additional updates, and after Pontus' presentation, we will start the Q&A session. Thank you. Yes, I'm going to talk about the trading update, where the average daily revenue until the 17th of July was close to 2% higher than the average daily revenue of the full third quarter last year. Adjusted for negative currency effects, the average daily revenue was 8% higher compared to the full quarter last year. I'm going to go into the regulatory update. For Sweden, as Martin mentioned, we have received back the money, or we didn't even pay it, but we have won the case that we overruled against the Swedish Gambling Authority. That's good. Finland has announced that they intend to change the gaming legislation and possibly make an extension of the marketing ban for foreign companies. In Malta, the FATF has gray-listed Malta, requiring some impact and changes to the situation. Most analysts expect Malta to be removed from the list within a year's time. In Greece, we have received two licenses, one for games of chance and one for betting, as previously mentioned. In Kenya, a tax has been introduced of 7.5%, which is lower than the previously existing tax on that kind of games. The marketing ban has recently been lifted from July 12th. Now we can start to market our activities in Kenya, which is good. We have been waiting for that for a very long time. To summarize the quarter, Betsson have reached all-time high in EBIT, in profitability, in active customers, which is very important for the future of the revenue creation, and in sportsbook revenues. This is all driven by our stable and scalable business model. Expansion and increase of customer base in Latin America has been successful through the CONMEBOL Copa América sponsorship. The launch of Greece and Belarus are paving way for further expansion and growth. We have been strengthened our B2B offering by the Strive and Masterpiece agreements. That's the summary of the quarter. Okay. It's time for Q&A. Before we start, just a reminder that you can send in your questions via the webpage, or you can dial in and follow the instructions. Before I hand over to the operator, I would like to ask you, Pontus and Martin, is there anything particular or any key takeaways from the quarter that you would like to highlight? We can start with you, Pontus. I can start. Of course, I'm really proud about the high profitability, which shows that we have cost control in the company, and it's also a proof that our sportsbook is very competitive. Even more so for this special quarter, I would like to highlight the customer intake and the customer activity, because that's really what's important with those tournaments. Of course, they add some revenues to the top line, but the most important thing is the ability to get new clients, and there we have really succeeded this quarter. That gives us a good situation for going forward in future quarters. Okay. Martin, would you like to add something? Yeah, I think I would like to push for two things in this quarter. I think what we're seeing in this quarter is the scalability of our business model, and I'm really happy to see that once we see a large tournament like this, we really see the benefits from our scalability in the business model. Secondly, I'm also very proud to see that, and happy to see that the work we have done, especially in the Latin regions for quite a long time now, is paying off, and that we see, as Pontus said, through the new customer intake. Okay. If we look at the sportsbook, it looks like the turnover are down, but the revenue is up. Can you please elaborate on this? Yeah. Turnover is down a bit quarter on quarter, but you can never look at turnover as an isolated KPI because the turnover is depending on the profitability of the sportsbook. Now we have the higher profitability in the sportsbook, higher margin, and then the turnover automatically goes down. Great. Thank you for your answers. With that said, let's hand over to the operator and see if there's any questions via phone. Thank you. If you do wish to ask a question, please press zero one on telephone keypad now. If you do wish to withdraw your question, you can do so by pressing zero two to cancel. Our first question come from the line of Erik Moberg from ABG. Please go ahead, your line is open. Hi, and thanks for taking my questions. First of all, could you perhaps elaborate a bit on the sports margins for the Euro and Copa América in its final stages and whether the Q3 trading update was inflated by this? Yes. I don't know exactly how the margin was set at the end of the tournaments, but the activity was for sure quite high. It's not that the tournaments inflate the figures as such because in other cases, we have other events going on. Now it's the tournaments. In other quarters, there's other things going on. Got it. Looking historically, Euros and the World Cup in soccer has always sort of contributed a certain amount of revenue. Would you say that Copa América this year has contributed in a similar manner both for Q2 as well as the start of Q3? Of course, they contribute a bit to the revenues, but that's normal. Then again, the tournaments stopped already after 11 days in that period. There have been a few days as well without the impact of the tournaments. What also should be kept in mind is that there are fewer games in the later part of the tournaments, i.e., there are fewer games in July than we saw in the beginning of the tournaments. Looking at the Copa América this year, you had quite an increase in the rest of the world. Is it fair to assume that Copa has contributed an equal amount as the Euros? Equal amount. We don't split those amounts and communicate the split between the tournaments. Both tournaments have, of course, contributed. The big takeaway from this is how we have managed to capitalize on the marketing and bring in new customers, and that is something that will kick off the activity once the soccer leagues kick off, which happens in the middle of August. Got it. Just when you calculate revenue, when you exclude the currency effects, are you also adjusting for inflation? Because at the moment, you have a large business in Turkey, which has roughly 18% inflation. If you compare with Sweden of roughly 1%. Could you perhaps elaborate a bit on this? We don't adjust anything for inflation. The only adjustment that you see in the organic measure is currency. Got it. Just going back to the underlying performance here. Obviously, you elaborated a bit on your view on the turnover, but still it witnessed a decline of roughly 4.5% QoQ, despite you should have an uptick in activity from Euros and the Copa. If I normalize the sportsbook margins here, it appears that revenue is down roughly 8% year-over-year. If you could elaborate a bit more here on the outlook from the turnover level here and also for casino, because based upon this, it appears like you will go X growth during H2. Yeah. To elaborate further on that is that we have the highest revenue from sports book ever in the quarter. That's a good starting point. We have a lot of new clients that we have taken in during the tournaments. We are very optimistic about the future in the sports book, even for this quarter, the third quarter, and also going forward. Do you expect to grow the turnover base from this level going forward? We don't really give any projections on the turnover because, as I said, it's depending on margin, et cetera. We have high expectations on our sports book going forward. In regard to casino, what do you see so far in July? Obviously, you always have a little bit of a negative seasonality effect, but do you see any sort of negative reopening effect? I think the biggest impact that we have seen, as I said earlier, is coming from the drop in revenue in U.K. and in Germany, which are casino-heavy markets. I think that is more important to emphasize on rather than any sort of gradual reopenings of any of the countries in terms of casino, I think as of now. Yeah. Got it. In the underlying markets activity in U.K. and Germany, in U.K. where you sort of have changed strategy a bit and scaled down on your operations, what do you see there? Do you see any negative effect for the underlying market? U.K. going forward is a pretty small market for us, so that will not be the one sort of driving any forecast going forward, what happens in U.K. for us. No. I think on a higher level, we believe that the pandemic that has been going on for quite some time, it has pushed the transformation to digital gaming on a broader scale, and that's there to stay. We look forward to success also in the casino part of the business. You don't expect any negative reopening effects for casino during the second half? No, we don't. Got it. Thanks. That's all from me. Thank you. Our next question comes from the line of Oscar Erixon from Carnegie. Please go ahead. Your line is open. Thank you, and good morning, guys. A couple of questions from me, starting with the impressive performance in the rest of world region and Latin America. First of all, what can you say about customer preferences in LatAm generally between slots like casino and sports? Also, do you see good signs there for customer retention after the strong recent momentum in LatAm? Thank you. Yes. In LatAm, the customers are more used to sports betting, and of course, they have been following sports for forever, I would say. We can see a strong uptake also in casino, and it's a learning curve and an acceptance curve that's going on. We have high expectations from casino for the future for that region. Great. Germany, if I understood correctly, revenue was at similar levels to Q1. First of all, is that correct? What do you see ahead here in terms of sales and earnings? Thank you. Yes, that's correct on the first question. Looking forward on Germany, it's hard for us to tell how the market's going to play out. Obviously, there are strong restrictions on the casino offering, and now it's down to quite small figures for us. We will give that market a go, and we will do our best. There are quite hard regulations, which has an impact on the player preference between regulated and unregulated sites. Understood. Then again on Germany, how does your product offering look in Germany currently, also in terms of game margin versus betting duties? Is it a decent equation? Also, if you could talk a little bit about what types of players are taking market share and then how that may develop. Thank you. Yes. I can't answer in detail on the product offering for the casino games, but obviously the casino games needs to be rebuilt in order to sustain with a high level of turnover tax. These products should most likely aim for the lower value customers, and the VIPs will not play with the regulated sites because it's not an interesting product offering. Got it. The other European markets, if excluding Germany, U.K., and potentially also Italy, which you mentioned performed a little bit slower here in, I guess, June primarily. What do you see in the other markets? Any sort of opening up effects, although you may have partly answered that already? Not really. As we said, the 5% decrease that we see, it is mainly explained by Germany and U.K. year-over-year. I think it's too early to tell, but as Pontus said, we think that we have sort of taken a step to a new level of digitalization and new customer behavior in terms of casino. Thanks. A final question from me. Casino side in the Nordics, a bit soft, similar levels as in Q1, despite seemingly quite solid Swedish performance. In Q1, you had problems with payments in Norway. Is Norway looking better? Are the problems solved there? Anything else to highlight? Norway is looking better. As you said, Sweden is moving along strongly and Denmark as well. We are quite confident for the near-term future for the Nordic market for casino. Great, then just a final question from me. Growth year-on-year quite slow at the start of Q3 versus the full Q3 last year. Is it fair to say that you assume an improvement in the year-on-year growth for the full Q3 as football leagues open up and as you capitalize on the new intake here from Q2? Definitely. We expect at least activity to go up big time already by the mid of August. We believe that the second half of the third quarter will be a lot stronger. I've been in this industry for a very long time, so I've seen many third quarters, and they are always the same. They start off very softly, and then they kick off, and the second half is always stronger. We expect that to happen this year as well. Excellent. Thank you. That's it from me. Thank you. If you do wish to ask a question please press zero one on your telephone keypad now. Our next question comes from the line of Martin Arnell from DNB. Please go ahead. Hi, guys. My first question is on the timing for the U.S. launch, if you can update us with if anything has changed on your views and discussions with potential future partners, et cetera. Not much. We had to delay the planned opening a bit due to all the measures that we have to do before we can launch. We find ourselves in a good position, and now we look forward to opening in the first quarter instead of the fourth quarter. That's the only change. Okay. Are you tempted to have a look at other states already, or is that too early to talk about? We don't have any other B2C plans for other states for the time being. We want to launch Colorado. We want to fine-tune it and make it work good, and then we want to push our B2B offering as hard as we can in all the regulated states. What about the interest for your B2B? Do you have incoming, or are you marketing it somehow? How does that work? When will you start to make it more visible for the future Americans? Yeah, we are already, of course, working on the market. We're contacting potential clients. We are working our way towards our first deal. Okay. Thank you. Then you mentioned that you're proud of the customer intake in the quarter, which was strong. How sticky should we expect the new customers to be here? Can you say anything on your expectations of the quality on these customers? Is it normal, or is it any changes to before? I think what we usually see in these tournaments is that we bring in plenty of customers. Of course, not all of those customers become permanent customers, but some of them become permanent customers, and that's good. We believe that we will be working out from a higher level after the tournaments when the sports kicks off shortly. Okay, thanks. The B2B system revenue is still growing really strongly year-on-year, but I think I noted it was down quarter-on-quarter. Could you elaborate on why it was down? We have a large part of our B2B revenues from Realm, and Realm customer base is not really as interested in the international tournaments as other customer bases. It's a matter of market mix. Okay. Perfect. Thanks for clarifying that. I think also there's a currency effect, of course, in that figure as well. I think that's evident when you look at the organic figures as well. Yeah. Yeah. Fair enough. Thanks. You write in the report that you have a new live casino provider, and you're diversifying your live revenue. I just want to ask how that is going for you, and is the product from the new provider as high quality as the old one? We don't want to rate the different suppliers. Obviously, it's good for an operator as Betsson to have more than one supplier in any product segment, and we're happy that we now have more than one supplier. Okay. Thanks. My final question is on the Malta discussion. You mentioned that you're, to some extent, concerned about this development, and that it could have operational effects on the companies in Malta. What kind of operational effects could that be? Just so we understand the risk here. Do you want to? I mean, what they are focused on is the AML part of it, and obviously banks are a lot interested in know your customer and AML. Maybe if we should rate one risk that is a little bit higher, then it should maybe be the banking part of it. Okay. It's more a comment on referring to financial institutions in Malta rather than you and your peers. Yes. Yes. Okay. Thank you, guys. That's all for me. Thank you. We have no more questions from the line. I will hand it back to our speakers. Okay. Thank you for your questions and for your replies. Let's go over to the questions that have been sent in via the webpage. You have done a few strategic M&As in the last couple of months. How is the direct M&A turnover pipeline? Are buybacks more preferred at the moment as the valuation of the stock is low? M&A is a part of our growth strategy. We are always looking at M&A opportunities. I think it's fair to say that we always have an M&A pipeline. We always compare our possibility to buy back shares with M&A. We do that all the time. What are your expectations for Kenya/Africa in the next 12-24 months? My expectations is that we finally can kick off the operation there and see what kind of traction we will get. It's been a long period of planning and setting things up, and then an even longer period of waiting. Now we are kicking off, and I'm looking forward to see how we will perform in the next three to six months. With the regards to the U.S. launch, you're talking about Strive providing a modern platform, giving you a very competitive sportsbook offer. Can you elaborate a bit more what you mean by a modern product? In what regards will it differ from the other sportsbook in the U.S.? First of all, we are building our own sportsbook, which is the Betsson sportsbook, which gets a totally new U.S. interface. That will be connected to a platform called the PAM, usually in the U.S., provided by Strive. When we did the evaluation, we liked their product a lot. There are certainly other good products in the U.S. on the PAM side and on the sportsbook side, but we know that players want diversity and they want to have different offerings to choose from. I think this offering will form a very competitive one against the existing ones. Can you please elaborate a bit more around the trading update and shed some light on how the income normally is distributed between the first part of Q3 compared to the second part of Q2? Yeah, I think I mentioned that previously, that it's always like this, that the third quarter starts off slowly. There's vacation time. There's not much sports going on after the tournaments have ended. Then the big soccer league starts more or less all in parallel, and then it kicks off strongly. We look forward to strong activity by the second half of this quarter. Okay. If we look out, let's say, 1, 2 quarters, what will be your main focus going forward? That's a big question. We have a lot of focus, I was about to say. Of course, what we do in the U.S. is very interesting, and when you say two quarters, we will be close to launch time or about launch time in the U.S. That's something which I will follow very closely. Okay. Anything you would like to add, Martin, on that? Of course, it's everything in line with our strategy. We're looking to expand and harvest from what we have done in the LatAm region now, and also looking into new markets and expanding. That's our strategy that we have been going through earlier through this presentation, and I think that is the main message that what we're aiming for. Excellent. Thank you for your replies. That was the final question for today. With that said, I hand over to Pontus. Do you have any closing words for the audience? Thanks for attending this presentation. We will be looking forward to presenting the third quarter in three months' time. See you then. Thanks a lot. Bye. Thank you. Bye. Bye.