Lorenzo Fertitta: Probably isn’t blip – it just like a blip from the greatest point [ph] in the history of the company.
Stephen Cootey: Yes. It’s right.
Lorenzo Fertitta: It’s not a blip.
Scott Kreeger: And you did mention cannibalization. And look, we hope everybody wants to go and check out Durango. That’s our [indiscernible] and they will. But when you look at Red Rock and the dynamic growth that we’re seeing in Red Rock, and the surrounding residential development. Red Rock on its own broad trajectory relative to [Summerlin West] I mean and high net worth people moving into the valley. So any cannibalization that comes…
Lorenzo Fertitta: This will be short-term.
Scott Kreeger: Durango, will be short-term and backfill very quickly.
Dan Politzer: Got it. And then just for my follow-up. Obviously, there’s been some pretty extreme heat out West. I mean, has there been any impact in terms of the driving customer or alternatively more locals leaving town that would result in maybe pronounce seasonality?
Stephen Cootey: No. I think seasonality in Q2 is in line with what we’ve seen in the past.
Lorenzo Fertitta: Historically – maybe not in the past relative to ’21 to ’22, but historical seasonality, yes. I mean, typically, Las Vegas locals do tend to go on vacation in the summertime. It is very hot here, wherever they go to get out of the heat or just have their summer vacation. But as we mentioned, I don’t think it’s anything out of the norm of what we’ve seen outside of ’21 and ’22, which obviously, we didn’t see any seasonality in those years.
Dan Politzer: Thanks. Appreciate all the detail.
Lorenzo Fertitta: Appreciate it.
Operator: Our next question comes from Chad Beynon with Macquarie. Please go ahead.
Chad Beynon: Good afternoon. Thanks for taking my question. Just wanted to dig a little bit more into the gross gaming revenue. I know roughly 80% to 85% of your GGR comes from slots. And we’ve seen probably some stronger numbers on slots versus maybe some deteriorating numbers on tables, not sure if that is really just kind of highlighting how strong some of the table revenues were last year from a retail customer. But is that kind of what you guys were seeing in your business? Is the core slot business – did that hold up well in the months that you were talking about? Thanks.
Scott Kreeger: Hi. This is Scott. I think if we look at – look on absolute dollars, the slots were the largest environment. When you look at table and – actually, from a volume that – gains drop, we’re actually up. So, we had some hold [indiscernible] they were gains that contributed to the decline. And then when we look at sports, as we said, it’s really a function of the Golden Knights, we can try and angulate right against that and a whole percentage issue for sports.
Chad Beynon: Okay. Great. Thanks.
Stephen Cootey: It’s kind of concise to our core strategy – as cable is up. We’ve invested a lot of money in our table rooms.
Scott Kreeger: Yes. We have a new high-limit room for slots and a new high-limit room for tables coming on Green Valley Ranch towards the end of the year. And then, we also have a new high-limit room at Santa Fe coming online. So, this is all part of us investing in high net worth, high-profit customer segments.
Chad Beynon: Okay. Thank you. And then from a capital allocation and leverage standpoint, could you just kind of remind us when you would start moving forward on the next project or when you would start returning to share repurchases after Durango opens in the fourth quarter? Thank you.
Stephen Cootey: I think from a leverage standpoint, as we kind of walkthrough, we’re going to get Durango open. So leverage peak out Q4. And then as Durango loads up, as it ramps up, we will start to naturally delever down. The Board considers capital allocation every quarter, both from a dividend perspective and a share repurchase perspective. And we’ve made it very clear, we halted the share repurchase program in the past, because we’re in the throes of Durango. And once that launches, to your point, I think we’re going to return to a more balanced approach to returning capital to our shareholders.
Chad Beynon: Thanks Steve, looking forward to the opening. I appreciate it.
Operator: Our next question comes from David Katz with Jefferies. Please go ahead.
David Katz: Good afternoon, everyone. Thanks for taking my questions. You covered a lot of ground already. What I wanted to ask about is how you’re thinking about omnichannel strategy and technology, digital, et cetera, digital wallet was something you were working out, rolling out, et cetera. An update there would be helpful, too?
Scott Kreeger: Yes. So it’s a great time to ask that question. We’re rolling out a bunch of new tech. And it all revolves around transaction ease and less friction for the customer and the mobile device. And so, we have a complement of products starting with a new mobile app. And it will bring transactional features for the customer. This would include digital cash, digital wallet. Market tracks, which is retail credit lines up to $5,000.
