New operational budget approved for the operation of LVCVA monorail »

Ray Smith, Exhibition City News

To reduce future sticker shocks, Ed Finger paved approximately $12 million in maintenance and equipment costs for the Las Vegas Convention and Visitors Administration (LVCVA) to make the Las Vegas monorail website run over the next 10 years .

LVCVA’s chief strategy officer briefly detailed the history of monorail during a regular board meeting in February, dating back to the Tourism Board’s purchase of the mass transport system for $24 million during Covid Pandemic. He noted that the price of construction in 2004 was $650 million.

Western Management Group is a former operator and was hired to run the system.

The monorail generated $2.2 million in revenue in 2021, the first year of operation after the pandemic, offsetting $1.7 million in fees. Revenue jumped to $20.1 million in 2022, $25.1 million in 2023 and $31.2 million in 2024. During this period, annual revenue increased from $500,000 to $11.2 million.

Finger has listed some goals that could enhance the experience of nearly 6 million passengers riding on the monorail every year. Using ticketing equipment cashless, $6 million to $8 million in cashless to replace a monorail control system costs about $2 million, and $2.7 million to improve generator systems and overhaul HVAC.

These improved bonds will be paid by 2028, and Finger will notify the board that the monorail will be “cash neutral” or slightly positive under current operating conditions.

This is a rough time in Las Vegas. LVCVA CEO Steve Hill expressed “more concern” about the economic headwind as the Tourism Bureau entered its fiscal 2025 budget.

Room tax revenue, the main source of funding for LVCVA, fell slightly in the fourth quarter, with relatively flat visitors.

“We have seen some weaknesses over the past few months,” Hill admits. “We are looking for ways to overcome obstacles to our path.”

Hill said the congressional authorities sold monorail tickets with partners from major trade shows such as CES, CON/AGG and NAB, while North Strip Development continued to push passengers. According to LVCVA, the monorail transports an average of 67,000 passengers during the city-wide trade fair. Free parking is available at the Las Vegas Convention Center and $1 monorail ride during the Las Vegas Formula 1 Grand Prix.

From MGM Hotel to Sahara Avenue, Sahara Avenue is located in Sahara Avenue and the neighborhoods of Sahara Avenue and the Sahara Hotel and Festival Grounds. Six stations, including the Convention Center, are located at Sahara Avenue (including the Convention Center).

The fully electric zero-emission monorail will eliminate more than 27 tons of emissions per year, about 462 tons since its opening. Additionally, the system eliminates 2.1 million miles of vehicles from Las Vegas Roads each year.