Judge approves sale of Las Vegas Monorail to LVCVA for over $20 million

LAS VEGAS (KLAS) — The Las Vegas Convention and Visitors Authority (LVCVA) is the official owner of the Las Vegas Monorail. A judge has approved the sale of the transit system for more than $20 million.

According to court documents, the price is $22,035,000, plus interest at closing. This number was dependent on a closing no later than November 30, but this was later extended to December 10 with the payment of additional interest.

Earlier this month, the headquarters of the World Buddhist Association (WBAH) filed a complaint against the sale of the monorail to LVCVA. The organization cited three easements on property at the southwest corner of Sahara Avenue and Paradise Road, an area it had purchased to build a temple.

Prior to WBAH’s lawsuit, the Las Vegas Monorail Company filed for bankruptcy in September after making little to no money from the shutdown. It concluded a sales agreement with LVCVA, submitted to the commercial court in the context of an auction.

The monorail transports 5 million people each year on a route that stretches from SAHARA Las Vegas to MGM Grand Las Vegas. The 3.9-mile route is heavily used by visitors who need to travel to the Las Vegas Convention Center and other convention facilities along the Strip.

Transit service suspended service in March when Governor Steve Sisolak ordered non-essential businesses to close to stop the spread of COVID-19.

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