{
  "report_rows": [
    {
      "kpi": "Consolidated Adjusted Property EBITDAR",
      "prediction": "BEAT",
      "answer": "pred ~$576M vs. cons $568M",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Macau Adjusted Property EBITDAR",
      "prediction": "MISS",
      "answer": "pred ~$282M vs. cons $286M",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Las Vegas Adjusted Property EBITDAR",
      "prediction": "BEAT",
      "answer": "pred ~$239M vs. cons $235M",
      "confidence": "MEDIUM"
    }
  ],
  "guide_rows": [
    {
      "kpi": "Macau Adjusted Property EBITDAR run-rate",
      "prediction": "LOWER",
      "answer": "guide ~$292M vs. cons $298M (Q3 2026)",
      "confidence": "LOW"
    },
    {
      "kpi": "Las Vegas Adjusted Property EBITDAR",
      "prediction": "LOWER",
      "answer": "guide ~$220M vs. cons $223M (Q3 2026)",
      "confidence": "LOW"
    },
    {
      "kpi": "Wynn Al Marjan opening timing",
      "prediction": "UNCHANGED",
      "answer": "guide ~4Q27 vs. cons 4Q27 (opening period)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Wynn Al Marjan remaining equity requirement",
      "prediction": "UNCHANGED",
      "answer": "guide ~$400M vs. cons $400M (through project completion)",
      "confidence": "MEDIUM"
    },
    {
      "kpi": "Macau expansionary capital expenditure",
      "prediction": "UNCHANGED",
      "answer": "guide ~$425M vs. cons $425M (FY2026)",
      "confidence": "HIGH"
    }
  ],
  "day1_residual_pct": 2.2,
  "day1_confidence": "MEDIUM",
  "day5_residual_pct": 0.8,
  "day5_path": "FADE",
  "day5_rationale": "Day-5 residual ~+0.8% vs. day-1 residual +2.2%: an initial consolidated EBITDAR beat and unchanged 4Q27 Al Marjan timing should help, but softer normalized Macau and Q3 Las Vegas math should limit upward estimate revisions and partially reverse the first-day gain.",
  "day5_confidence": "MEDIUM"
}