• About Us
  • Activity
  • Advertising
  • Books
  • Business
  • Contact
  • Dashboard
  • EB5
  • Entertainment
  • feedback
  • Forgot Your Password?
  • Government
  • Home
  • Interviews
  • Login
  • Members
  • Meme generator
  • National
  • Nevada
  • Nevada News and Views
  • Newsmax
  • NN&V Ads
  • Opinion
  • Pick a New Password
  • Politics
  • Polls
  • Privacy Policy
  • Profile
  • Recent comments by me
  • Recent comments on my posts
  • Register
  • Submit post
  • Subscribe
  • Subscription Confirmation
  • Survey
  • Survey
  • Terms of Service
  • Today’s Top 10
  • Travel
  • Travel
  • Travel
  • Welcome!
  • Yop Poll Archive
Nevada News and Views
  • About Us
  • Advertising
  • Contact
  • More
    • Nevada
    • Opinion
    • Business
    • Travel
    • News
    • Sports
  • Facebook

  • Twitter

  • Pinterest

  • RSS

Featured Article

Las Vegas Monorail Co. files for Chapter 11 bankruptcy, citing hit from COVID-19 pandemic

Las Vegas Monorail Co. files for Chapter 11 bankruptcy, citing hit from COVID-19 pandemic
The Center Square
September 14, 2020

In this May 18, 2016, file photo, The Las Vegas monorail leaves a station in Las Vegas. The idled Las Vegas Monorail is being bought by the local tourism authority with plans to arrange the system’s second Chapter 11 bankruptcy after 16 years of operation by a not-for-profit corporation.
AP Photo/John Locher, File

(Michael McGrady) – The Las Vegas Monorail Co. filed for bankruptcy this week amid the damage done by the COVID-19 pandemic.

President and CEO Curtis Myles said that the decision to file Chapter 11 bankruptcy is in the company’s “best interest,” according to the Las Vegas Review-Journal.

“As a result, it is in the Las Vegas Monorail Company’s best interest to file for bankruptcy and effectuate a sale of the system assets to a party who intends to keep the system in operation and help ensure that the mobility benefits the Monorail provides continue during conventions, events and throughout the year,” Myles said on Monday, the Review-Journal reported.

The company is a not-for-profit, privately held company that offers alternative monorail transportation options for tourists and workers on the Las Vegas Strip. Key terminals run between some of the most popular hotels on the strip.

Due to the ongoing COVID-19 pandemic, the entire state of Nevada—like much of the United States—shut down most segments of the economy. Las Vegas and the outlying communities were hit particularly hard by the mandatory closures. The monorail system has seen a noticeable decline in passenger traffic after hotels were closed.

The monorail operator previously filed for bankruptcy in 2010 after ridership expectations fell short.

Earlier this month, the Las Vegas Convention and Visitors Authority Board of Directors approved a $24.26 million acquisition deal for the monorail operator.


By

Michael McGrady | The Center Square

Prev postNext post

Related ItemsFeatured Article
Featured Article
September 14, 2020
The Center Square

Related ItemsFeatured Article

More in Featured Article

Last-Minute Election Eve Observations

N&V StaffNovember 8, 2022
Read More

Election ’22: Game Day!

N&V StaffNovember 8, 2022
Read More

Nevada Democrats outpace Republicans in spending and fundraising for top state races

The Center SquareNovember 8, 2022
Read More

Nevada’s new abortion information page includes complaint form for reporting crisis pregnancy centers

The Center SquareNovember 7, 2022
Read More

Nevada library spends over $4,000 on ‘Family Pride Day’ featuring ‘drag queen storytime’

The Center SquareNovember 5, 2022
Read More

Lombardo: My Promise to Nevadans

N&V StaffNovember 4, 2022
Read More
Scroll for more
Tap

Subscribe Free By Email

Looking for the best in breaking news and conservative views? Let Chuck do all the work for you! Subscribe to his FREE "Muth's Truths" e-newsletter.

* indicates required
Nevada News and Views
Nevada News & Views is an educational project of Citizen Outreach Foundation, a non-partisan IRS-approved 501(c)(3) organization. It is not associated or affiliated with any political party or group. Nevada News & Views is accessible by the public at no cost. It funds its operations through tax-deductible contributions from donors and supporters and does not accept government money or grants.

TAGS

Featured Article Nevada Politics business Muth's Truths government Opinion Government Muth’s Truths Obama Ron Knecht News Donald Trump GOP Republicans

Copyright © 2022 Citizen Outreach | Maintained by VirtualAlly

Nevada’s July gaming numbers show positive trend
More Nevadans face layoffs as pandemic continues