The Las Vegas Monorail Company operates the only privately funded public transportation system in the United States. Since opening, the Monorail has carried more than 50 million passengers and remains committed to its community as we continue to work towards improving mobility in one of the most congested corridors in the country. We are pleased to offer this page to investors, customers and others who are interested in learning more about our company.
A STATEMENT FROM THE LAS VEGAS MONORAIL COMPANY – 12/7/2012
The Las Vegas Monorail Company is pleased to announce it has completed the restructuring process, and emerged from Chapter 11 bankruptcy.
Moving forward, this allows the company to again focus completely on serving Las Vegas’s visitors, and maximizing the system’s mobility and air quality benefits. The Company maintains its ongoing commitment and a sustainable vision for the future of the Las Vegas Monorail as an integral part of transportation in Southern Nevada.
Curtis Myles, president and CEO said today, “This process has permitted the Monorail system to continue to provide a convenient alternative to visitors and residents alike to navigate the Las Vegas Strip.”
The Las Vegas Monorail Company filed for bankruptcy protection in January 2010 after the company had difficulty serving its debt load. The Company’s capital restructuring reduces its long-term debt from approximately $650 million to approximately $13 million present value.
Myles added “The energy and expertise of our new Board of Directors, and the commitment of our employees point to an extremely positive future for the Monorail – the system has carried over 50 million passengers, and we look forward to carrying many millions more as we improve and enhance our service.”
RIDERSHIP AND REVENUE DATA
*Includes gross ticket sales revenue only. Monthly ridership and revenue numbers are released quarterly. Upon the release of this data, this section will be updated and reported in a monthly format.
FRANCHISE AGREEMENT
- Clark County Monorail Franchise Agreement
- First Amendment to Franchise Agreement
- Second Amendment to Franchise Agreement
- Third Amendment to Franchise Agreement
- Fourth Amendment to Franchise Agreement
FINANCIAL DOCUMENTS
Tax Documents
- IRS Form 990 2011
- IRS Form 990 2010
- IRS Form 990 2009
- IRS Form 990 2008
- (Note: The above document includes references to Conway, Del Genio & Gries (CDG). At the request of Ambac, in May 2008 the Company hired CDG as financial advisor and Michael Monaco of CDG as chief restructuring officer. CDG and the Company ended their relationship October 2009. In November 2009, Ambac retained the services of CDG to advise it during discussions to restructure the Company's debt.)
- IRS Form 990 2007
- State of Nevada Tax Exemption Letter
*This section will be updated upon completion of the audit and with Board approval.
Audited Financial Statements
- 2011
- 2010
- 2009
- 2008
- (Note: The above document includes references to Conway, Del Genio & Gries (CDG). At the request of Ambac, in May 2008 the Company hired CDG as financial advisor and Michael Monaco of CDG as chief restructuring officer. CDG and the Company ended their relationship October 2009. In November 2009, Ambac retained the services of CDG to advise it during discussions to restructure the Company's debt.)
- 2007
- 2006
*This section will be updated upon completion of the independent auditors' report and with Board approval.
Annual Budgets
- 2013 Budget
- 2012 Budget
- 2011 Budget
- 2010 Budget
- 2009 Budget
- (Note: The above document includes references to Conway, Del Genio & Gries (CDG). At the request of Ambac, in May 2008 the Company hired CDG as financial advisor and Michael Monaco of CDG as chief restructuring officer. CDG and the Company ended their relationship October 2009. In November 2009, Ambac retained the services of CDG to advise it during discussions to restructure the Company's debt.)
- 2008 Budget
*This section will be updated upon completion of the next annual budget and with Board approval.
BOARD OF DIRECTORS
Curtis L. Myles, III
President and Chief Executive Officer
Las Vegas Monorail Company
NATIONAL TRANSIT COMPARISON STATISTICS
When compared to other light rail and automated guideway transit systems in the United States, the Las Vegas Monorail ranked first in 2010 in the amount of money collected from fares per mile, the amount of money collected from fares per rider and farebox recovery percentage. The 2010 statistics below are from the National Transit Database and include all other national light rail and automated guideway transit systems (commuter rail and heavy rail transit systems are excluded). The 2010 Las Vegas Monorail statistics below were calculated and self reported by the Las Vegas Monorail Company and are not included in the National Transit Database.
- 2010 System Length Ranking
- 2010 Ridership Ranking
- 2010 Fare Revenue Ranking
- 2010 Riders per Mile of System Ranking
- 2010 Fare Revenue per Mile Ranking
- 2010 Fare Revenue per Rider Ranking
- 2010 Farebox Recovery Ranking (percentage of system costs funded through rider fares)
- 2010 Percentage of Taxpayer Subsidy Ranking
*Data listed on the National Transit Database (NTD) is self reported by individual transit agencies. The NTD website is updated annually. The 2011 national transit comparison statistics will be available in late 2012.
For more information, call 866-4-MONORAIL or 702-699-8200,
or email contact@lvmonorail.com.