Kevin, Jimmy, Joey and Neal plan on seeing the Devil in Miss Jones, a movie released in 1973 when this takes place in 1972.
After Wayne has the initial encounter with Maniac, the intimidating student who never speaks, the focus is shifted back to Kevin and his friends. You can see Wayne and Maniac having an animated conversation in the background.
Wayne is seen handing out cash to his friends after having lost a bet that he can find out Maniac's real name, even though he technically won. Due to the fact that Maniac threatened to kill Wayne if he ever told anybody his real name, Wayne's successful bet backfired. However, he could have easily led his friends to Maniac and say, "Tell these guys that you told me your name," therefore putting more money in Wayne's pocket and excluding any risks of his life in danger.