LAS VEGAS (KLAS) — The Las Vegas Convention and Visitors Authority (LVCVA) officially owns the Las Vegas Monorail. A judge approved the sale of the transit system for more than $20 million.
According to court documents, the price is $22,035,000, plus interest at closing. This number was dependent on a closing no later than Nov. 30, but that was later extended to Dec. 10 with the payment of additional interest.
Earlier this month, World Buddhism Association Headquarters (WBAH) filed a lawsuit against the sale of the monorail to LVCVA. The organization cited three easements on property at the southwest corner of Sahara Avenue and Paradise Road, an area it had bought to build a temple.
Before WBAH’s lawsuit, the Las Vegas Monorail Company filed for bankruptcy in September after making little to no money because of the shutdown. It entered into a sale agreement with LVCVA, submitted to the bankruptcy court under an auction sale.
The monorail transports 5 million people every year on a route that extends from SAHARA Las Vegas to MGM Grand Las Vegas. The 3.9-mile route is heavily used by visitors who need to get to the Las Vegas Convention Center and other convention facilities along the Strip.
The transit service suspended service back in March when Gov. Steve Sisolak mandated the closure of non-essential businesses to stop the spread of COVID-19.