The Las Vegas Convention and Visitors Authority (LVCVA) plans to spend around $51 million on transportation infrastructure over the next three years to support its newly expanded and remodeled Las Vegas Convention Center.
The money encompasses a pair of two-year agreements involving the Las Vegas Monorail, which the authority purchased last year for $25 million, and Elon Musk’s Boring Co., which is building a mile-long people-mover below ground at the Convention Center and plans to add a 15-mile surface line called the Vegas Loop that eventually will link the Strip and Downtown resort corridors.
The LVCVA board authorized paying $45 million to Western Management Group to operate the Monorail through 2023 and up to $6.25 million to Boring.
Western will receive $7.5 million for the rest of the 2021 fiscal year and $18.75 million for each of the 2022 and 2023 fiscal years, according to news reports.
Boring will receive $1.25 million for the balance of fiscal 2021 and $5 million for 2022.
The board also granted Boring access for tunnel work connecting the Convention Center with Wynn Resorts’ Encore casino hotel on the Strip.
