Las Vegas Monorail sees ridership, revenue drop
Due in part to a thinner convention lineup, the Las Vegas Monorail reverted to its long-standing pattern of declining revenues and ridership in the latest reporting period.
During the second quarter, the 1.3 million riders marked a 1.3 percent drop compared to the same period last year; fare revenues fell 3.5 percent to $5.8 million.
By contrast, both benchmarks rose during the first quarter for one of the few times in the monorail's existence when convention attendance in Las Vegas surged and chose to ride the rail. The meeting traffic helped boost April results as well, but that tapered off as the second quarter wore on and the convention lineup grew shorter.
More riders were lost when the Sahara closed in May.
The monorail, which runs roughly parallel to the Strip a few hundred yards to the east, will try to persuade a U.S. Bankruptcy Court judge to approve its financial reorganization plan at hearings scheduled to start next month.
There have been hints of creditors settling debt issues for weeks, but nothing officially has been filed.
Contact reporter Tim O'Reiley at
toreiley@reviewjournal.com or 702-387-5290.
