Yes. Some hardware is becoming commoditised. You can source monitors and PC components. You don't necessarily need to manufacture every individual component yourself. Te real value is increasingly in the solution. Tat can span many different areas. We have technology businesses providing compliance-related software-as-a-service solutions. We have server-based gaming. We have online platforms. We have B2C operations. I see the same direction across land-based and online because those


areas will increasingly converge. Exactly what device consumers will use in the future, I don't know. But as long as screens remain relevant and people want to consume gaming content, the rest is up to us.


Has Greentube's history taught you that adversity can actually ac- celerate innovation? Sometimes pressure forces you to look much more carefully at how you mitigate risk. Germany is a good example. Historically, Greentube had significant exposure there. When that market changed, we had to face reality. It became a survival issue. We had to rethink the business, spread the risk, expand B2B, enter


other markets and look at acquisitions and new technologies. Without that pressure, perhaps we would have continued doing what was


already working and wouldn't have diversified as much or as quickly. So adversity can certainly create invention. But the important thing is what you do with it.


After 25 years, what gives Greentube the ability to keep adapting to whatever comes next? We have the people, we have the technology and we have the whole NOVOMATIC group as support. Tat gives us the ability to innovate within the constraints of regulation and to combine capabilities when we need them. But you still have to keep looking ahead. You have to recognise technological changes, understand wider


trends and adopt them where they make sense. Look at game formats. Crash games didn't exist in the mainstream 10 or 15 years ago. Other mechanics have emerged from mobile gaming and completely different forms of entertainment. Te next generation may not interact with gaming in the same way our generation did. Tat is why you have to remain curious. You need to understand how consumers are changing and how tech-


nology is changing, while remembering that the core question hasn't really changed. What experience does the player want - and how do we build the right solution around it?


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