County Approves Acquisition of Las Vegas Monorail; LVCVA discusses a transaction | Local


LAS VEGAS (FOX5) – The Clark County Commission unanimously approved the Las Vegas Convention and Visitors Authority’s request to acquire the Las Vegas monorail on Tuesday morning.

The agreement would allow LVCVA to manage the monorail and have exclusive rights to its route. Currently, the 3.9 mile monorail connects the MGM Grand on the Las Vegas Strip to the Sahara at the north end of the Strip. Included is a stop at the Las Vegas Convention Center, operated by LVCVA.

The transaction would transfer county rights and responsibilities to the convention authority, LVCVA CEO Steve Hill said in a meeting Tuesday afternoon.

Hill said the cost of the deal would be about 1% of LVCVA’s debt amount, which is few losses. He said the monorail, which carries around 5 million passengers a year, is worth it.

“The monorail is important,” Hill said. “(Visitors) want to see this transportation option continue.”

Hill said if LVCVA does not buy the monorail, it could be several years before another option emerges.

“We don’t think LVCVA will invest hundreds of millions of dollars in preserving or expanding this,” Hill said.

Las Vegas Mayor Carolyn Goodman opposed the deal but was not present at the meeting.

According to LVCVA, the $ 24.6 million acquisition “would preserve a key transportation solution for business and leisure travelers in Las Vegas.”

The monorail receives an average of 5 million passengers per year.

The transaction would also eliminate the non-compete zone around the system, allowing the introduction of additional transportation options throughout the resort corridor. The Convention Center Loop is already under construction, an innovative underground tunnel system designed by visionary Elon Musk, which will connect the West Hall expansion of the Las Vegas Convention Center (LVCC) to the existing facility, relocating thousands of attendees to the convention throughout the campus. Tesla electric vehicles.

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