Ridership, revenue improve for Las Vegas Monorail
Bostered by improving convention traffic, the Las Vegas Monorail posted slightly improved ridership and fare revenue numbers during the first quarter.
The 1.3 million people who bought tickets during the quarter marked a 4.6 percent gain from one year ago, marking only the second increase since full operations began in late 2004. In 2008, the passenger count rose during a short-lived experiment with lower fares.
The $6.1 million in fare revenues during the this year's first quarter was 2.8 percent higher than in 2010. Advertising sales also picked up but still are about 80 percent lower than in 2007.
This year, several major conventions such as the International Consumer Electronics show drew higher attendance than in recent years, while the triennial Conexpo/Con-Agg construction industry convention drew nearly 120,000 people. Monorail executives have often said that conventioneers are a critical portion of the ridership.
According to documents filed in connection with the monorail's Chapter 11 bankruptcy, the closing of the Sahara hotel later this month is projected to reduce the number of people boarding at the adjacent station by about 1,000 per day. Fare revenues are projected to fall 7.2 percent, or about $800,000, during the second half of this year.
Contact reporter Tim O'Reiley at toreiley@reviewjournal.com or 702-387-5290.
