Monorail acquisition could come by Sept. 1, official says
Las Vegas Convention and Visitors Authority President and CEO Steve Hill hinted Tuesday that a deal for the LVCVA to acquire the Las Vegas Monorail Co. could come as early as Sept. 1.
In a report updating LVCVA board members of ongoing issues, Hill asked members to block out 3-5 p.m., Sept. 1, for a potential special board meeting, replacing the regularly scheduled Sept. 8 session.
“Our conversations with the Monorail continue and there are several steps in that process that have to take place, including agreements with (Clark) County,” Hill told the board. “We are trying to line up those steps to both make sense and to be done expeditiously so we may need to call a board meeting at 3 p.m., on Sept. 1.”
Hill didn’t elaborate on what steps need to be taken and the status of negotiations with the Monorail company.
A representative of the Las Vegas Monorail Co. did not immediately respond to a request for comment on Hill’s remarks.
At the board’s July 14 meeting, Hill disclosed that he had begun talks with Monorail Company President and CEO Curtis Myles about acquiring and operating the 3.9-mile transit system. Hill said he believed the LVCVA could operate the system profitably, but one of the key factors in acquiring the system is to enable the elimination of a Monorail non-compete agreement that has the potential of slowing development of a citywide underground transportation system envisioned by The Boring Company.
Elon Musk’s Boring Company already has contemplated expanding a Convention Center loop system citywide with stops up and down the Strip. Agreements already have been reached for underground links to the Convention Center from Encore Las Vegas and from the under-construction Resorts World Las Vegas project.
Contact Richard N. Velotta at rvelotta@reviewjournal.com or 702-477-3893. Follow @RickVelotta on Twitter.
