{
  "report_rows": [
    {
      "kpi": "Consolidated Adjusted Property EBITDAR",
      "prediction": "BEAT",
      "answer": "pred ~$575M vs. cons ~$565M",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Macau Adjusted Property EBITDAR (Wynn Palace + Wynn Macau)",
      "prediction": "BEAT",
      "answer": "pred ~$272M vs. cons ~$258M",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Las Vegas Adjusted Property EBITDAR",
      "prediction": "MISS",
      "answer": "pred ~$226M vs. cons ~$234M",
      "confidence": "MEDIUM"
    }
  ],
  "guide_rows": [
    {
      "kpi": "Wynn Al Marjan Island (UAE) opening timeline",
      "prediction": "LOWER",
      "answer": "guide ~late-2027/early-2028 open vs. cons ~2027 (opening timeline)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Macau QTD/July EBITDAR run-rate",
      "prediction": "BETTER",
      "answer": "guide ~$3.5M/day vs. cons ~$3.3M/day (July QTD)",
      "confidence": "LOW"
    },
    {
      "kpi": "FY2026 expansionary capex (Enclave/Macau + Vegas remodel)",
      "prediction": "UNCHANGED",
      "answer": "guide ~$400-450M vs. cons ~$425M (FY2026)",
      "confidence": "LOW"
    }
  ],
  "day1_residual_pct": 1.8,
  "day1_confidence": "LOW",
  "day5_residual_pct": 0.5,
  "day5_path": "FADE",
  "day5_rationale": "Oversold positioning (~-20% YTD, near 52-week lows) plus a Macau-driven EBITDAR beat likely sparks a relief pop day 1, but the binding variable is the UAE timeline. A quantified Al Marjan slip toward late-2027/2028 pulls out-period (2027-28) EBITDAR contribution estimates down even as Q2 prints a beat, while tough Vegas/Boston comps and Encore Tower remodel disruption cap upside. Net: initial gain fades as sell-side trims the out-period, leaving a muted 5-day residual.",
  "day5_confidence": "LOW"
}