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Las Vegas Monorail files for Ch. 11 bankruptcy
by Associated Press
Jan 14, 2010 | 1638 views | 0 0 comments | 18 18 recommendations | email to a friend | print
LAS VEGAS (AP) — The Las Vegas Monorail has filed for Chapter 11 bankruptcy protection in hopes of restructuring its debt.

Las Vegas Monorail CEO Curtis Myles said in a statement released late Wednesday that the transit system had enough revenue to pay its operating costs and some of its debt. He said the monorail's hours will not be affected.

Myles says the company needs to get through bankruptcy before it can expand its system to the airport and other points along the Las Vegas Strip.

Myles says the monorail has been hurt by a 30 percent drop in convention visitors to Las Vegas.

The Las Vegas Monorail is run without public funding.
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