Vegas Monorail survives bankruptcy transaction
On December 9, the Las Vegas Convention and Visitors Authority formally acquired the assets of the Las Vegas Monorail Company, an effort to preserve a popular transportation option for convention and trade show attendees at the Las Vegas Convention Center and various hotels in the band. The US bankruptcy court approved the sale at the end of November.
Interestingly, the deal now allows other transportation options to emerge on the east side of Las Vegas Boulevard by eliminating the non-compete perimeter around the monorail system. In particular, it paves the way for further progress on the Boring Company’s underground tunnel, named Vegas Loop.
The first incarnation of Project Loop is designed to move visitors from various parts of the convention center to the new West Hall extension, a distance of up to three kilometers. The new 1.4 million square foot venue is slated to open in January. But if the initial three-station travel system is successful, it will expand beyond the convention center to McCarron International Airport and downtown Las Vegas / Fremont Street District.
Since 2004, the Las Vegas Monorail Company has linked the convention center with six stops next to major hotels: MGM Grand, Bally’s / Paris Las Vegas, Flamingo / Caesars Palace, Harrah’s / The LINQ, Westgate Las Vegas and Sahara Las Vegas. The fully electric monorail removes 27 tonnes of carbon monoxide from the city’s air each year.
The LVCC hosts about 20 percent of the 42.1 million meeting and event attendees that come to Las Vegas each year.