Boring Co. Vegas Loop expansion looms as LV monorail files for bankruptcy
The Boring Company, an entity owned by Elon Musk, is set to expand its loop from the Las Vegas Convention Center to other parts of Sin City after the area’s monorail filed for bankruptcy. The monorail is tasked with transporting residents and tourists around Las Vegas from various points of interest, but it has not been operational since March 18.
Since the start of the COVID-19 pandemic in early 2020, transit systems have experienced a large-scale decline in ridership. The organization is also facing an increase in the costs of disinfecting and cleaning its buses and trains. Since large gatherings are prohibited in many areas, some transit options are not available, which has hit the Las Vegas monorail hard financially.
The monorail is 3.9 miles long and first operated in 2004. It carries five million passengers a year, the LVCVA said. However, it lacks important points of interest, like McCarran Airport, which has attributed its poor success, said Monorail Society vice president Keith Walls.
LVCVA plans to continue operating the monorail if the deal goes through, but that could mean the Boring Company’s project is ready for major expansion.
LVCVA’s purchase of the monorail would remove restrictions on where the Boring Company loop could be operated. At the moment, there are restrictions as the monorail has non-compete rights, which limits the areas where the loop can operate.
At the moment, the Boring Company tunnel, known as the Las Vegas Convention Center Loop, is under construction and it is “only a few months away,” according to Musk. The loop should be operational in January 2021.
Elon Musk’s Las Vegas Boring Company tunnels “just months away” from operations
Interestingly, LVCVA was the entity that approved the contract and accepted the Boring Company’s $ 52.5 million offer for an underground loop that will move around 4,000 people per hour. It will also reduce a 15 minute walk to a two to three minute trip.
From now on, the LVCC loop will transport people from the Palais des congrès through its huge campus. However, there are plans to expand the loop on the Vegas Strip with other points of interest. These include a majority of notable Vegas hotels and McCarran Airport at the bottom of the Strip.
However, the Boring Company’s plans do not end there. According to the map of the potential extension, the tunnel could extend all the way to Los Angeles, and a Boring Company tent has been spotted at a location between the two cities, suggesting ongoing tests for the tunnel. massive.