LVCVA approves Monorail, Boring contracts
The Las Vegas Convention and Visitors Authority approved agreements for the Las Vegas Monorail and the Boring Company to operate beginning next month.
The LVCVA will pay $45m to Western Management Group for the operations and management of the Las Vegas Monorail from 7 February 2021 through 30 June 2023. The LVCVA recently purchased the Las Vegas Monorail, which was facing bankruptcy.
Additionally, the LVCVA will pay Elon Musk’s Boring Co. a maximum $6.25m for operations and management of the Las Vegas Convention Center Loop from 1 February 2021 through 30 June 2022.
The board also granted Boring Co. access to dig tunnels connecting the Convention Center and Encore.
At its Tuesday meeting, LVCVA CEO Steve Hill expressed optimism that convention business will return by late spring.
“We hope that by the time we get to Memorial Day we’ll have a big, safe environment for all of our visitors to come back,” Hill said. “We know that World of Concrete will be here in the Convention Center which is one of the big, signature shows that we have every year in the second week of June. We think that both of those events will probably trigger the reopening of the monorail.”
Presently Las Vegas is attracting few conventions and none at the large scale the city is used to. CES, the biggest annual convention in town, is being held virtually this week.
The Las Vegas Convention Center is preparing to debut its $980m West Hall expansion when conventions return.
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