Chad Beynon: That is great. And can Venuetize in some of the non-traditional gaming pieces of that? Will that start to be a bigger contributor in 2024 or are you still kind of planting the seeds on some of the items that you talked about, Randy, with relationship to sports, retail hotel. Is that more of a multi-year opportunity or can we start to see that in 2024?
Randy Taylor: Well, I’m going to turn it over to Darren, but I will just say that on Monday we had a major league team in the office and I will say Venuetize continues to look and work into the sports area. So I think it is an area for growth, but Darren, I will let you kind of add on that one since you are a little closer to it.
Darren Simmons: Yes, look, I think, as I have said a few times now Venuetize really compliments our overall deep product roadmap that we have actually been executing on now for a number of years. So I think you need to look at it as complimenting, the mobile solutions that we have got that are really resonating with customers. Again, we have tremendous feedback at G2E, just around our whole mobile strategy as it relates to how we are thinking about sports venues, entertainment, and how our customers are seeing that convergence, that continues to trend with gaming, online sports and venues. And so, I think, as Randy said, I think, we continue to win new business, win new customers, because of the deep product set that we have and our ability to execute and deliver on the value that we have across our ecosystem of products and services. So, again, still feel good about where we are at and it is 2024 with the momentum that we have got here.
Operator: Thank you. Next question comes from the line of George Sutton with Craig Hallam. Please go ahead.
George Sutton: Mark, I wanted to ask you about cash flow and free cash flow into 2024. Understanding you are not giving guidance. But just generically, as we look at the cash flow you are generating this year versus what you will be positioned to do next year, can you just give us a sense of any large puts and takes that we should be aware of?
Mark Labay: I think we tried to, as you highlighted, we are not going to give guidance. I will be careful not to suggest I’m giving guidance right now. But, we expect growth next year from where we are this year, in terms of the EBITDA line of where we are. We all know it is happening with interest rates. Certainly, we are exiting the year higher than we entered the year. So that could be a little bit of a negative depending on your views for views and how interest rates and how quickly they start coming down. I think there is, I believe they will start coming down or at least holding from these levels. So that should be kind of consistent, I think. And from a CapEx perspective, I tried to highlight that, we really are investing in the business next year.
I think we have got a tremendous amount of new products specifically on the gaming side, available to us. So we think it is going to drive some nice compelling revenue growth for us as we move forward. So we will lean in a little bit more into the customer equipment side, as we have a lot of new products available to us to refresh that installed base and really drive revenue growth. But that growth in the customer equipment is probably offset by the declines in terms of what we are going to see in terms of those discrete items. We have completed the build out of our new Las Vegas assembly and warehouse facility, some of the discrete IT projects that we had mentioned at the beginning of the call. Those kind of things will be coming out of the number.
So I suspect our CapEx number will be probably when we come out with guidance somewhere in the neighborhood of where we are today for 2023. And we still believe from a cash tax perspective, we will still be in a pretty good spot from a cash tax perspective. I would suspect, we are probably not much different than what we are paying this year in terms of cash taxes unless rules change. So it feels like we are in a nice spot for growth on that line right now. But again, I will hold off and reserve the rest of that commentary until we kind of get the year-end and kind of share some more views of 2024.
George Sutton: Great. A question for Dean. Obviously, we have talked about this air pocket in terms of product availability, and generations. Can you just make it simple for us in terms of what maybe the Top 3 cabinet or content availability, you are really focused on when those are expected to be available? What should we be closely watching for?
Dean Ehrlich: So I will go down the list of new cabinets that are coming out in the timing. It is probably the easiest thing. So, Player Classic Reserve launched at the end of September. Dynasty Dynamic also launched at the end of September. So Randy talked about the 50 units that are currently out in the field and the 200 unit backlog. So those are the first two. Dynasty Soul, which is our new-for-sale portrait cabinet will launch in December but it will be a small amount of units towards the end of December and then really into 2024. And then our Soul Sync, which is our premium version of our new portrait cabinet will launch in early Q1. So that is the cadence of the four cabinets. Also to remind you that, we really just launched Vue at the end of Q1 this year.
And a plethora of content really is coming out, I would say, towards the end of the year into next year as well. So we will have two video cabinets, which is obviously the biggest category of opportunity to position out into the commercial market, not commercial, all markets. So that is the strategy George. I hope that answers that for you.
Operator: Next question comes from the line of John Davis with Raymond James. Please proceed.
John Davis: Just wanted to follow-up a little bit on the free cash flow commentary, but specifically mark on CapEx, that you would expect it to be kind of flat-ish next year. But if I recall, you had about 25 million of onetime-ish type products between 15 million for the new manufacturing facility and 10 million or so from – I think a transition ERP if I recall correctly, but just maybe talk about some of the puts and takes just specifically on CapEx as we enter 2024.
Mark Labay: Either way to just talk about guidance, John. I like it. I will dance a little bit. Look, John, I think again, we talked about having maybe a little bit more CapEx this year. I kind of framed that in my prepare to remarks. We think with what we have been spending so far this year that our CapEx in total is kind of coming down a little bit from where we had, uh, provided explicit guidance maybe, or explicit update last quarter of like 142 million to 144 million for the full-year. So, I think we will spend a little bit less just because Q3 was a little lighter in terms of customer equipment. We are getting new equipment in now we are starting to roll that out and we have probably been a little bit under some of the discrete items that we have spent on what we projected this year, which was kind of in that $25 million to $30 million kind of range, is what we kind of thought was there.
So you are getting a little bit of total CapEx decline overall. And where we are again as we move forward, I really want to make sure it is important that we keep investing in the infrastructure of the footprint. But I will also highlight that R&D expense where we think is adequate for what we need to spend. And it is still at that 8 million and half percent range compared to revenue. So we think we are investing enough in that. But from a CapEx perspective, I think, you should expect to see it kind of similar because the discrete items that we are saving this year into next year, I expect we will be made up for with the increased customer equipment spend as we refresh the install base.
