Bill Carstanjen: Generally, when I think about the future of our Company, I don’t think the macro environment’s a big part of our story. I think we’re managing through it really well. But if I had to draw any specific commentary and again, I don’t claim I don’t believe it to be really significant to our story and our growth projectory. There’s more weakness in the unrated play than there is in the rated play. The rated play still looks pretty good, but maybe a modest decline in trips. But the impact, if it’s worth mentioning at all, has really been more on some weakness in the in the unrated play.
Barry Jonas: Got it. That’s really helpful. Just as a follow up, I wanted to ask about exact you talked about a six and a half multiple on the deal before synergies. Now that that the deal is closed, I guess you have any you have a better sense about what the synergies could be? And is there sort of an upside case for what the ultimate transaction multiple may wind up to be?
Bill Carstanjen: I really love the exact deal. I think it was a really smart deal for our Company to do. It’s working according to our expectations right now. Recall that exact I had an exclusivity and exclusive in Virginia, and we bought it when there were 2600 machines deployed in Virginia we’re going to be going to five thousand. Now, we’ve elected to waive the exclusivity to have some Ainsworth product in there, too. But ultimately, we’re going to see a lot of impact from exact and not only based on the current environment, but based on the growth of the application of the exact system, not only in Virginia as we increase the number of machines, but also as we roll out exact and the performance of our third-party customers increases both a number of customers and in and the quantity of exact a product that they use.
So, I think it’s a real growth, a really strong growth business in and of itself. But strategically, it’s really hugely important for us not only because of the impact on our own cross structure, but our ability to work with and control and direct the development of that technology to improve it, always driven towards an eye on our margins as we invest in HRM. facilities across the country.
Barry Jonas: Great. Thanks, Bill.
Bill Carstanjen: Thanks, Barry.
Operator: Thank you. One moment, please, for our next question. And our next question comes from the line of Chad Beynon with Macquarie.
Chad Beynon: Hi, good morning. Thanks for taking my question. Bill. I know there’s probably not a ton you can expand on beyond what you’ve said regarding 150. But given the strong advanced commitment that you talked about with Patek, with premium, you’ve talked about the experience and what people are paying for. What does this kind of indicate for future years? Meaning we’re all laser focused on kind of weekly and monthly consumer trends in different cohorts. And clearly, given the commitment that you’ve seen for 150, it kind of shows that that cohort feels pretty good. So one on the fundamental growth and then secondly, kind of how that feeds into potential expansion at the property? Thanks.
Bill Carstanjen: Sure. Thanks, Chad. Thanks for the question. So, I’ve been so encouraged by the early sales of tickets. It’s been certainly in excess of my expectations. And that allows us to focus on execution, execution, execution, get the project built on time, meet and exceed the customer’s expectation and deliver a spectacular Derby 150. I think it’s the case that we’re going to be very happy with the economics of 150. But the team is focused not just on the economics, but on delivering the great experience, because that experience is part of the foundation for future projects. We’ve had great momentum over the last decade plus of delivering successful projects. And every time we do that, that’s a foundation for us to pursue additional projects that that gives us the confidence and our board the confidence that we should continue investing in the Kentucky Derby.