Imagine if you will a city seeking to expand its transit options. A group of private business interest purpose building a privately-funded rail line designed to connect key attractions along the city’s main thoroughfare. In this case, the Las Vegas casino industry decided to build their own monorail to connect casinos with the city’s convention center.
The Las Vegas monorail is now bankrupt. In November, a U.S. Bankruptcy Judge rejected the Vegas monorail’s plan to exit Chapter 11 because he believed the system would still be “doomed to failure.” The best laid plans of mice and casino operators do often go awry. Apologies to mice.
March 6, 2011, Las Vegas Review-Journal: The once highly touted and anticipated rail system that was supposed to ferry millions of tourists and locals up and down the Strip filed for bankruptcy in 2010. Revenue was $23.3 million in 2010. Ridership hit 5.2 million people last year, far less than the 20-plus million annual riders monorail advocates envisioned during its early days. About 2 percent of riders are local.