Las Vegas Sands Recommended to Break Up to Boost Value

Sept. 24 (Bloomberg) -- Las Vegas Sands would be worth $85/shr if it spun out shopping-mall, hotel properties as two real estate investment trusts, with rest of co. remaining pure casino owner, according to a report released by Jonathan Litt, founder and CEO of investment firm LandandBuildings.

* Co.’s shrs closed at $44.92 on Sept. 21 * “LVS is a growth company at a value price at half the

multiple of REITs despite twice the growth,” Litt, former

senior global real estate strategist at Citigroup writes * “LVS is a property company and when valued as such it can

be a double to current pricing.” Story

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