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Wednesday, 16 September 2020 17:55

Boring Co. Vegas Loop Expansion Looms as LV Monorail Files for Bankruptcy

Written by Joey Klender, Teslarati

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The Boring Company, an entity owned by Elon Musk, is poised to have its Las Vegas Convention Center loop expanded to more portions of the Sin City, after the area’s monorail filed for bankruptcy.

The monorail is responsible for transporting residents and tourists around Las Vegas from different points of interest, but it has not been operational since March 18.

 

Ever since the COVID-19 pandemic began in early 2020, public transit systems have experienced a large-scale dropoff in ridership. The organization is also facing increased costs in sanitizing and cleaning its buses and trains. Since large gatherings are prohibited in many areas, some public transit options are not available, which has hit the Las Vegas monorail hard in a financial sense.

 

As a part of the bankruptcy filing, the Las Vegas Convention and Visitors Authority has agreed to purchase the monorail for $24.3 million, according to KTVS News.

 

The monorail is 3.9 miles long and operated for the first time in 2004. It carries 5 million riders a year, the LVCVA said. However, it is missing significant points of interest, like McCarran Airport, which has attributed to its mediocre success, said Monorail Society Vice President Keith Walls.

 

The LVCVA plans to continue to operate the monorail if the deal goes through, but it could mean the Boring Company project is set for a major expansion.

 

The purchase of the monorail by the LVCVA would remove restrictions on where the Boring Company loop could operate. As of right now, there are restrictions as the monorail has non-compete rights, which limit the areas where the Loop can operate.


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