Tuesday, May 3, 2011

The monorail in Las Vegas is in trouble

If you've been to Las Vegas you've probably either rode on the monorail or at least seen it in action as you walked the strip.  But as cool as it it, it's in financial trouble.  Reports out of Las Vegas Review-Journal have the monorail filling a bankruptcy reorganization plan that would erase more than 90% of its huge $658.8 million debt.  

Rides cost $5 a pop or $12 for a day pass on the monorail but not a lot of people are using it like developers had once thought would.   It started up in 2004 as a quick way to get from the MGM to Bally's but then expanded it's route to include more stops.  They had wanted to extend it to the airport where then it could possibly turn a profit as it would ferry visitors directly to and from the airport.

Time will tell if the monorail will survive, I hope it does.

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