This has been a rumor for months but it looks like the Las Vegas Convention and Visitors Authority might be about to purchase the Las Vegas Monorail.
Today the decision will be made by their board of directors to purchase the Las Vegas Monorail for approximately $24 million. I would be very surprised if this deal doesn’t go though as it makes sense for both parties.
The Las Vegas Monorail has not been a big moneymaker to say the least and a lot of it’s traffic goes to the Las Vegas Convention Center anyways.
The monorail filed for bankruptcy protection in 2010 and $6.76 million was set aside if the monorail had to be removed. The monorail has averaged 4.8 annual riders a year the last few years but is still pilling up debt.
The Las Vegas Monorail runs for 3.9 miles along the Eastern side of the Las Vegas Strip between the MGM Grand and the Sahara. The monorail has nine driverless trains that are climate controlled and can accommodate 224 passengers.
The main issues with the monorail is that it only serves one side of the Strip and it’s stations are way at the back of the properties; Apart from those issues the monorail also doesn’t serve Downtown or the airport.
For the Las Vegas Monorail to be useful in you stay you need to be staying on the Eastern side of the Strip and visiting other resorts on that side or attending a convention at the Las Vegas Convention Center.
The last reason is why this purchase makes sense for the Las Vegas Convention and Visitors Authority as they can cross promote the monorail and also use tickets as part of the convention package. The LVCVA also has the financial power to make the talked about extensions to the Mandalay Bay or Downtown which make the monorail more viable.
Today we will find out the future of the Las Vegas Monorail and hopefully it does get purchased.