The most valuable property resides outside the USA and profits on that are not taxed in the USA until the funds are brought back here. If the funds stay outside the USA and are invested in new projects, there is no tax advantage to a REIT from the viewpoint of the non-USA properties.
I really don't have a clue what you are talking about, but it has nothing to do whatever as regards a REIT. You need to look up what they are and how they are taxed. Most of the revenue from a REIT is returned to the investors. The purpose is to reduce or eliminate corporate tax. In return, REITs are required to distribute at least 90% of their taxable income into the hands of investors. A REIT is a company that owns, and in most cases, operates income-producing real estate. REITs own many types of commercial real estate, ranging from office anapartment buildings to warehouses, hospitals, shopping centers, hotels and even timberlands. Some REITs also engage in financing real estate. The REIT structure was designed to provide a real estate investment structure similar to the structure mutual funds provide for investment in stocks.
I can't remember the guy's name that was in the interviews. He said in the interview I listened to that LVS management was spectacle about meeting their expansion finance plans under a REIT structure. His town sounded like it would be done, but not while they were expanding so quickly. maybe after Eurovegas. Maybe they will set up a structure for mature properties???
An added note, SA was very clear they would not sell their properties because he didn't want anyone to learn how their business plan worked. He said in the CC that he didn't want anyone to learn how to "make a key". Nobody asked about PA after that comment, but It sounded to me like they didn't want to sell anything. That must mean a future REIT is probably going to happen.
The transcript that I read of the conference call indicated that they might consider selling property at some point but not until current plans are complete. They also said those properties could fetch as much as 10 billion. So based on that what you can infer is a REIT option is not on the near term table.