Las Vegas monorail expansion project pushed back despite dip in ridership
The Las Vegas Monorail Co. is banking on future growth on a proposed extension to Mandalay Bay, even though recently released numbers show ridership fell for a second straight year on its existing 3.9-mile route.
The transit system reported more than 4.81 million passenger boardings in 2017, about 124,000 fewer than a year earlier, according to figures released this week on the organization’s website at non-profit.
The private company’s total revenue — including ticket sales, advertising and other revenue — was $21.85 million in 2017, virtually flat compared to the previous year.
According to a ridership study released in April 2016 by BuroHappold Engineering, the numbers fall short of forecasts that the monorail would generate $24.3 million in fare revenue for 2017.
In December, monorail spokeswoman Ingrid Reisman attributed the drop in ridership to increased competition from ride-sharing companies such as Uber and Lyft – which have also significantly reduced ridership on the city’s taxis and public buses. Las Vegas area operated by the Southern Regional Transportation Commission. Nevada.
The figures were released as Las Vegas Monorail Co. embarks on an effort to expand the 1.14-mile route from MGM Grand to Mandalay Bay. Proponents of the monorail expansion said a link to Mandalay Bay would allow pedestrians to cross a proposed bridge over Interstate 15 to the stadium.
Clark County Commission Chairman Steve Sisolak said Monday that “the monorail is an integral part of transporting these people back and forth” to the stadium, hotels and the expanding Las Vegas Convention Center. massive.
“We can’t do everything by taxi, Uber and private transportation,” Sisolak said at a press conference to promote the monorail’s new partnership with GooglePay. “The monorail needs to absorb a larger percentage of that.”
Although monorail executives did not release an estimate, a source with knowledge of the project told the Las Vegas Review-Journal in December that the expansion would likely cost around $110 million.
Curtis Myles, president and CEO of Las Vegas Monorail Co., said Monday he hopes to announce plans “in the next month or so” for how the expansion will be funded.
“We get it,” Myles said. “But we’re not ready to talk about it publicly yet.”