Brandt Montour : Just starting out with Las Vegas on the pace that you gave, Tom, I was wondering if you be kind enough to break that out into volume versus rate? I know you said rates were up. And what I’m getting at is the broader hotel world in the U.S. is still seeing a lot of in the year for the year volumes being booked. And so I’m curious how much upside do you think there is on that front in Vegas this year?
Tom Reeg : Yes. So Brandt, we’ve seen a significant lift in demand as we measure it in terms of forward bookings in the last few weeks. As I said, March is setting up for one of the strongest months we’ve had certainly from a rate and occupancy standpoint. As you get toward the back half of the year, you’re comping against quarters where we were full, so you’re going to see more of a rate lift. It’s really the first half of the year that has benefited in filling in occupancy that wasn’t there in ’22, primarily midweek.
Brandt Montour : That’s great. And then a question about iGaming. And Tom, I’m curious, when you think about that market, and you think about your company’s aspirations for growing that — your business there in the second half. Do you think that you can do that by growing the overall market by engaging in your — with your database and things that you can do there? Or is there a significant amount of your lift going to come from gaining share from other operators in your mind?
Tom Reeg : I think it will be a mix of both that will tap into our own network, but that also there will be some market share gain as well. You’ve seen even in this environment where we’ve not been aggressive at all from a promotional perspective. I’d go back and look at what’s happened in Illinois market share for us. You see us continuing to class share. We’re certainly still nothing to write home about. But when you give the customers a better product, we’ve got a lot of customers that are that lean towards doing business with us if we’ve got the right product. And we think that we’re going to be there shortly, and we’d expect similar experience.
Operator: Our next question comes from Chad Beynon with Macquarie.
Chad Beynon : Eric, you mentioned hold was up, I believe, 100 basis points in the fourth quarter. And I’m guessing that was a combination of game outcomes, but probably more importantly, game mix with single game parlays and the like. Can you kind of help us think about structurally what’s happening with withhold, kind of where your single game parlay and maybe in-play product is against where you want to be and maybe your peers, and if you think this will have a positive outcome for 2023, particularly as we get deeper into the year?
Eric Hession: Yes, sure. You’re right. It was, I would say, mostly structural changes that we made, there was definitely a favorable outcome on some key sporting events. But one of the things we measure is multi wager tickets. So like it could be same game parlays or multi-game parlays or however that you — the customer wants to bet. And those — the percentage of those as a function of our overall bets is steadily rising. This is kind of the third year that we have good data on it. And we’re continuing to see improvements. And as you know, the hold in those products are much higher. We’ve also done a better job merchandising it. So if you go on our app now, you’ll see we have pre-canned parlays, so they’re effectively prebuilt.
Right now, they’re the same for everybody. But in the future, we’ll be able to use some segmented marketing to display different pre-canned parlays, which I think will be really — customers will be really receptive to that. We also have boosts that we offer on the tiles across the top and the boosts are well received by the customers. And those also help improve the hold overall for the product. In addition, we’ve made a number of changes on our trading team. We now have the trading team organized by sport. We fully separated from the William Hill team, and we also have the modeling being done for the most part now in-house. So our analytics team has built a lot of the models that we use for in-play trading, which also helps have more customization for our position with the book, but it also just over time, will help our whole percentages.
Chad Beynon : And then separately, can you just update us on in terms of the size and scope, I guess, the spend in New York for a land-based casino and maybe the timing for that opportunity when we’ll find out the next steps?
Tom Reeg : Yes. So I’d say spend to date has been modest. We see the same documents that you see that suggests they’re looking to award something by the end of the year, but there’s a potential cut through the location boards of the various properties that’s upcoming in the next quarter or so. We continue to believe we’ve got the project that will open the quickest. We’ll start paying New York, the tax is the quickest. It’s in an area that doesn’t need zoning approval. Obviously, is already tourist-focused but I can assure you, we are not going to be the one that wins because we built the biggest housing development outside of our casino. We’re going to win this on the merits of the property and how quickly we can get open and how well it fits into the local environment. If it becomes an arm’s race of who is going to spend the most money, we won’t win.
Operator: Our next question comes from John DeCree with CBRE Securities.
