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Takeaway: LVS could generate significantly more revenues if it could match the market average VIP revenue per table

  • Despite the big VIP push starting last year, LVS trails the market average in table productivity by a wide margin
  • Mass revenue per table is also below the market average but only by a small margin
  • Assuming market average revenue per table, LVS could be generating approximately $200 million more in EBITDA annually.  We expect the company to continue to improve its productivity in Mass and especially VIP throughout 2013.

CHART DU JOUR: NARROWING THE GAP - gf