Rob Goldstein : Yes. Yes. Yes. They’re spending in retail, they’re spending in gambling, they’re spending, as we may have referenced so Steve, it’s just the right customers showing up. And I think this is historically how it’s worked out in the recoveries where those who are the most aggressive gamers and retail spenders show up first. And we’re seeing that strongly in Macao. It’s a very good audience, a very strong audience. You’ll see the market numbers then come out. It’s really gratifying for those of us who wait along terrible three years to see these days return, and they returned. And I think the real question is these customers that are now the question is, how many more are coming behind them? Because to your point, visitation has been mediocre out of Mainland China, relative to what had been previously.
We’re not even there. We’re getting some pretty big numbers coming out of Macao in the market. So we’re very enthused about it. I don’t think — it’s not necessarily choosing gaming or retail, I think they’re doing both, and then they’re eating and shopping and funding everything. So — it’s very typical of these recovery situations where the people who wanted most to shop there and they’re buying their spending enjoying life again. I think the Chinese are no different to the Americans who came to the U.S. markets and enjoy themselves. And hopefully, a party continues is just getting started, and we’ve got a very encouraging start to this reopening after the last three years. Grant, do you want add some color to that, any issues you can raise that I haven’t?
Grant Chum : No, I think it’s just as you said. The nature of these reopenings, it will attract the high-quality customers first, and that’s what we’re seeing. And I think we saw that in Singapore in April as well. We had much stronger recovery in the Southeast Asian overseas spend in Singapore versus the recovery in the tourist arrivals. And I think Macao has also following something similar, except for the fact Macao has a much bigger advantage in being able to support visitation, not just by international airlift, regional airlift, but also by land and sea as well and domestic airlift then connecting through the Southern China as well. So I think it’s — let’s see how — what the pace of visitation recoveries like versus the revenue recovery. But so far, I think the pattern that we’ve seen in CNY does support that pattern. Yes, you’re getting a much stronger revenue. I think you are in visitation.
Rob Goldstein : I think that last comment of Grant’s, that’s a great one, in that this is on the air dependent market like Singapore. You’ll need the airlines. You can come other ways, access to Macao is mostly vehicular or both. So I think it’s a huge advantage for Macao that as the population conquers, the virus situation gets more confident, there’s nothing to — no impediments to massive growth in visitation coming to Macao from China. That’s a very positive point. But Steve, look, we just — we are pleased we’re seeing and they’re spending in every direction. So we very — we feel very fortunate. Hopefully, it just continues to ramp up from here.
Steve Wieczynski : That’s great color. That’s it for me, guys. Really appreciated.
Rob Goldstein : Thank you, as always.
Operator: Thank you. The next question is coming from David Katz from Jefferies.
Cassandra Lee : Hi. This is Cassandra on behalf of David. Happy Chinese New Year to everyone. Yeah, I think a lot of my questions have been answered already, so I hope it’s not getting repetitive. You’ve mentioned cost issues in all markets, especially in energy wages. So could you discuss to what extent are those permanent? And where we might be run rating in terms of EBITDA versus 2019 level today?
