I am completely comfortable to remind the board that I've been calling out the MMs and hedge funds for really transparent manipulation, to drive down the SP, this being aided by media that are all-too-pleased to give wide exposure to the myths of a weak early Feb GGR comparison, due to alleged VIP no-show phenomenon. That, I submit, is total bull, and Feb 2013 should be a classic, when compared to Feb 2012 . . . even without any market growth, etc., Feb 2013 would HAVE to be much stronger than the year-ago month, due to this year having the Lunar New Year period in Feb.
Knowing the above, it's been very frustrating to see LVS pushed down, on the basis of obviously false information about early Feb results. And even more frustrating to see usually-knowledgable board members like Spok seeming to "buy in" to the weak Feb results fiction.
Unfortunately we are at the mercy of so many things when it comes to LVS PPS and it is never very cut and dry with us.
I realize there are always headwinds that we must fight against and the battle here is won very slowly. I think the combination of too many shares outstanding and continued difficulty improving our EPS do continue to keep us mired in the current trading range.
We definitely need to double or EPS if we want to ever realistically double our PPS as our P/E ratio is viewed by the public at large as high for the industry and LVS more or less fully valued regardless of the 20% + annual growth we experience in regard to Revenue expansion.