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Posted on: April 5, 20,24 at 12:52h.
The last update was on April 5, 2024 at 2:10h.
In late 2020, the Las Vegas Convention and Visitors Authority was dissolved. Purchased the Las Vegas Monorail Co. from bankruptcy. fans of once futuristic tram systems saw it as lifeline.
The death sentence was actually issued.
Most people are unaware that LVCVA plans include an 11 million dollar fee. Dismantling monorail By 2030, if not earlier than 2028.
Last Stop Coming Soon
It’s like trying to drive a 1961 Ferrari 250 GT California SWB Spider. It will eventually break down, and need a part which is no longer manufactured.
eBay doesn’t list old monorail components.
Nine Mark VI trams each have four cars. Their four-mile track is custom-made to fit the monorail. Bombardier in Quebec is the only company that manufactures those trams. After racking up debts worth billions, the company no longer manufactures trams. Bombardier’s rail division was sold to Alstom, a French rival in 2021 for $6.7 billion.
Monorail executives were reportedly waiting for Disney World’s Mark VI trams to be upgraded so that they could purchase the retiring stock. Two Disney World Mark IVs were used to build the first monorail tracks in Vegas that connected MGM Grand with Bally’s between 1995 and 2002.
Las Vegas is not able to win. It could buy a new monorail system, but it would have to create all-new tracks. It isn’t It is not possible to do this. It would be great if a company could develop a monorail that fits the tracks of an existing monorail, but no one is willing to take on this niche.
“Off the Rails”
In 2003, the Las Vegas Monorail was born when the MGM Grand to Bally’s System expanded to seven additional stops on the resort corridor.
It has never made a profit — but it was never designed to — since it was considered a public service. Nevada invested the most state bonds, worth more than $1.12billion today.
Another clue that something was wrong was that the LVCVA paid a relatively small amount of money, only $24.3 million for the system which cost tens of millions to construct.
Thirdly, the utter silence that surrounds the plans of the monorail for a Mandalay Bay/Allegiant Stadium Extension and a MSG Sphere Stop is a hint. Clark County approved both in 2018, and they are expected to be open by 2021.
In October 2019 the monorail announced that Preston Hollow Capital, a Dallas-based company, had provided $33.5 Million in funding for its expansion.
In a press release at that time, Las Vegas Monorail Co.’s CEO Curtis Myles stated: “The completion of this first financing is an essential and important step in our expansion strategies for this system. It already offers substantial mobility benefits in the busy resort corridor.”
Two new stations will increase the value of our services to customers, resort partners and sponsors.
LVCVA has stopped mentioning either of the stations.
Crazy Train
Why would LVCVA buy an outdated transportation system they already knew was doomed?
The monorail was protected by a clause of non-competition that prevented any company from building a second off-street transport system on the Strip.
The LVCVA already had a contract signed in 2019 for $48 Million with Elon Musk’s The Boring Company, to build the Vegas Loop. This would have likely violated the non-compete clause of the monorail.
Tickets for the monorail cost $5.50 per one-way trip, $13.45 if you want a 24-hour unlimited pass and $57.50 if you need a 7-day pass. The system can be accessed via its website. The monorail train arrives every 4 to 8 minutes.
Last chance to ride!
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