Global Gaming is down for the count as the Administration Court has decided not to grant inhibition. Global Gaming will appeal the decision to the Administrative Courts of appeal (Kammarrätten). However, we find it unlikely that the outcome will be favourable for Global Gaming. Moreover, we believe that Global Gaming is evaluating different alternatives, where migrating the Ninja Casino brand to an external platform is the most likely alternative. As a result, we have evaluated the scenarios and updated our estimates.