Craig Billings: Yeah. Brian, do you want to give a little bit more color?
Brian Gullbrants: Sure. Joe, as we’re seeing this year play out, we’re really encouraged by the forward group booking trends that we’re seeing. The outlook for group business is super strong. ’24 is pacing towards a record room night. So that base is there for us to yield from. And the sales and revenue teams continue to just do a great job in yield managing our properties.
Joseph Greff: And on those group room nights, Brian, what would you say rate is relative to ’23 pricing?
Craig Billings: We don’t disclose that, but you can assume that rates are contracted on a multiyear basis and bear some relationship to CPI.
Joseph Greff: Great. Thank you very much.
Operator: Thank you. Our next caller is Shaun Kelley with Bank of America. You may go ahead.
Shaun Kelley: Hi. Good afternoon, everyone. Craig, maybe just starting and building off the answer to the last question on sort of the way the recovery has played out across the properties. Just specifically at Wynn Macau, is that the bigger beneficiary in the portfolio today as it relates to, let’s call it, as we start to see visitation maybe outpace or balance out now relative to the spend per visit we saw, again, earlier in the recovery. Is that sort of the implication of the answer to the last question? Or could you just elaborate a little bit on where you expect to see some of the still very strong visitation numbers and that kind of catch up in the base mass business. Where should we see that most in your portfolio?
Craig Billings: Well, I think you’re going to see it across the portfolio, but you’re going to see it disproportionately at Wynn Macau just based on the geographic location of the property. You tend to have that more transient customer in downtown and we’re going to be a beneficiary of that there. But it affects Palace as well. I mean there’s a lot of reasons to visit Palace and to make Palace a destination for a base mass customer. You should see the queue just to get on the gondola out in front of the lake every day. And now as we add incremental amenities like we did with Illuminarium, there’s a lot of reasons to visit our property more so than they probably ever have been. So I would say it affects both properties to some extent, but I would expect it to disproportionately affect the property downtown.
Shaun Kelley: Thank you for that. And then maybe as a Las Vegas, question. Obviously, some significant benefit on the event side from F1, which we know disproportionately seems like it accrued to win. You’re going to have another big one, it seems like with Super Bowl. Wondering if you could comment a little bit on maybe as you look year-over-year, the broader events business in calendar, you talked about group. So how does the just broader event calendar post Super Bowl feel on a year-over-year basis? And then specifically, because we’ve got some tracking data that looks pretty good for you. Just any thoughts or comments on the impact of the sphere? And how that has played out, especially on some of the bigger concert nights and what you might see in terms of impact there? Thanks.
Craig Billings: Sure. On the first portion of your question, the event calendar looks pretty good because we spend a whole bunch of time creating our own events. So it’s not just the city wides. We’ve been programming the heck out of this joint for several years now, and we’ve built a lot of momentum on doing that. And that not only helps us from a brand and marketing perspective, but clearly from a room night and a pricing on rooms perspective. So I feel great about the remainder of 2024 from an events perspective. With respect to the sphere, it’s been, I’d tell you, it’s been pretty amazing. I mean it probably doesn’t affect our rate, but we sure do get a whole bunch of requests to reside on that side of the building in order to see the sphere itself.
And certainly, on the U2 weekends, we see an uptick in terms of very high-quality occupancy. So you’re talking about kind of the best of the best customers that want to stay with us because we’re actually the closest property to the sphere as the crow flies. So it’s definitely been additive to us on the margin. And I got to tell you, I admire and respect what they’ve done by doing that. I think it’s incredibly novel. It’s incredibly unique, and it’s yet another kind of only in Vegas experience that you can have and we’re delighted that they’re next door.
Shaun Kelley: Thank you very much.
Operator: Thank you. [Operator Instructions] Our next caller is Dan Politzer with Wells Fargo. You may go ahead, sir.
Daniel Politzer: Hey, good afternoon. Thanks for taking my questions. Look, Vegas is obviously performing at an extremely high level, no real impact from new supply. How do you think about the parcel — the property parcel Wynn West that you have? And obviously, this is a longer-term focused question, but how did your thought process there maybe expand as it relates to your CapEx projects in the UAE as well as New York? Thanks.
