LAS VEGAS — The Las Vegas Convention and Visitors Authority has acquired the assets of the Las Vegas Monorail Company, ensuring that visitors and convention attendees can continue to use this convenient transportation for years to come. The 3.9-mile monorail, which typically carries 5 million people a year, has been shuttered since March.
The transaction, which was approved in November by the U.S. Bankruptcy Court, eliminated what was a noncompete area around the monorail system, paving the way for the construction of an underground tunnel, The Vegas Loop, by The Boring Company.
Just a week after the acquisition, The Boring Company submitted a pair of land-use proposals outlining its new plan for the tunnel, which includes two routes, according to the Las Vegas Review-Journal. One line would transport people to dozens of casino hotels on the Strip, Allegiant Stadium, McCarran International Airport and downtown Las Vegas, and the other line would connect every Caesars–owned resort in the city, including Caesars Palace, Paris Las Vegas, the LINQ, Bally’s, The Cromwell, Harrah’s and Planet Hollywood Resort.
“The groundbreaking Vegas Loop project will become an attraction in and of itself,” said John Schreiber, Vice President of Business Sales for the Las Vegas Convention and Visitors Authority. “As Las Vegas continues to grow and add more resorts, venues and attractions, the Vegas Loop is key to overall destination plans for innovative and convenient transportation throughout the resort corridor.”
Reach John Schreiber at (702) 892-0711 or jschreiber@lvcva.com.
