The Las Vegas Monorail Company has secured long-term financing needed to help fund construction of a new station at Sands Avenue and to replace a short-term loan facility.
The new station will provide a direct connection to the Sands Expo Center, The Venetian and The Palazzo Resorts, and to the MSG Sphere, the 18,000-seat entertainment venue currently under construction. The transaction is part of the company’s expansion program, which will also include a later expansion to the Mandalay Bay Resort with proximity to Allegiant Stadium.
“The completion of this initial financing is an important and necessary step in our expansion strategy for this system, which already provides substantial mobility benefits along our busy resort corridor,” said Las Vegas Monorail Company president Curtis Myles. “With two new stations, we will multiply those benefits for our customers, resort partners, sponsors, and our community.”
The Sands Avenue station is projected to be completed and open in conjunction with the Sphere project opening.
The Las Vegas Monorail system has carried more than 87 million riders since opening, providing additional mobility and capacity in one of the most popular and congested visitor corridors in the world. Its fully electric, zero emissions vehicles eliminate over 27 tons of emissions annually, and approximately 462 tons since opening.