{"id":150482,"date":"2020-09-29T13:11:38","date_gmt":"2020-09-29T20:11:38","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=150482"},"modified":"2020-09-29T14:30:39","modified_gmt":"2020-09-29T21:30:39","slug":"brightline-west-offers-3b-bonds-build-las-vegas-california-train","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/brightline-west-offers-3b-bonds-build-las-vegas-california-train\/","title":{"rendered":"Brightline West Offers $3.2B in Bonds to Build Las Vegas to California High-Speed Train"},"content":{"rendered":"

Brightline West, formerly known as XpressWest, the high-speed rail project that seeks to connect Las Vegas with Southern California, is turning to investors to raise capital through the issuance of $3.2 billion in bonds.<\/p>\n

\"Brightline
Traffic is common on I-15 in and out of Las Vegas to Southern California, but Brightline West believes it has a solution. (Image: RTC Southern Nevada)<\/figcaption><\/figure>\n

High-speed rail operator Brightline has announced it will sell $3.2 billion worth of bonds to help fund the $8 billion project. The company did not specify what sort of interest investors will receive, nor the maturity date.<\/p>\n

“A bond is a fixed income instrument that represents a loan made by an investor to a borrower,” Investopedia <\/i>explains. “Bonds are used by companies, municipalities, states, and sovereign governments to finance projects and operations.”<\/p>\n

\n

First conceptualized in 2005 as DesertXpress, then XpressWest, then Virgin Trains USA<\/a>, and now Brightline West, the infrastructure project has been long imagined. The current version of the development would build 170 miles of high-speed rail connecting Las Vegas with Victor Valley, California, with further expansion to Los Angeles to follow.<\/p>\n<\/div>\n

Travel time would be approximately 85 minutes or roughly two times faster than driving. Brightline is a privately-run company that presently operates train service in Florida from Orlando to Miami.<\/strong><\/p>\n

Las Vegas Economic Boost\u00a0<\/b><\/h2>\n

Economic analysts in Southern Nevada believe connecting California with America’s gambling capital via high-speed rail would be a major boost for the region. The Las Vegas Convention and Visitors Authority (LVCVA) reports that 18 percent of all visitors to Las Vegas in 2019 arrived from Southern California.<\/p>\n

Visitors from Southern California to Las Vegas visit primarily to gamble at a higher rate (21 percent) than any other feeder market. Twenty-six percent of Southern California visitors to Las Vegas receive a comped casino hotel room, also the highest rate of any metered origin.<\/p>\n

\n

Southern California visitors on average spent $323 on food and drink, $105 on shopping, and $658 gambling. SoCal visitors additionally are significantly more likely to have an annual income of $80,000 or more (48 percent compared with 37 percent for all other domestic visitors). They’re also younger, 29 percent being under the age of 30.<\/p>\n<\/div>\n

The market is crucial to Las Vegas, and Brightline West would connect Californians with Sin City faster.<\/p>\n

\n

It could be enormous for Vegas,”<\/strong> Andy Kunz, president and CEO of the US High Speed Rail Association, told Casino.org<\/i> this year. “It could double the number of people coming to Vegas.”<\/strong><\/p>\n<\/blockquote>\n

Brightline says 50 million one-way trips are made annually between Southern California and Southern Nevada, 85 percent by car or bus. Brightline trains are zero-emission, electric people-movers that can travel up to speeds of 200 mph.<\/p>\n

Virgin Ltd. Out<\/b><\/h2>\n

Shortly after acquiring the rights to XpressWest in late 2018, Brightline signed a partnership deal with Virgin Trains<\/a> to operate the rail service under the Virgin brand. But in August, Brightline announced Virgin had derailed the arrangement.<\/p>\n

\n

We will no longer use the Virgin brand following our parent’s (company) termination of its licensing agreement with Virgin Enterprises Limited,” a Brightline filing read.<\/p>\n<\/blockquote>\n

Should the $3.2 billion bond offering be completed, Brightline plans to break ground later this year. Station construction is slated to begin in 2023.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Brightline West, formerly known as XpressWest, the high-speed rail project that seeks to connect Las Vegas with Southern California, is turning to investors to raise capital through the issuance of $3.2 billion in bonds. High-speed rail operator Brightline has announced it will sell $3.2 billion worth of bonds to help fund the $8 billion project. […]<\/p>\n","protected":false},"author":25,"featured_media":150495,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,10],"tags":[],"acf":[],"yoast_head":"\nBrightline West Offers $3.2B in Bonds to Build Las Vegas to CA Train<\/title>\n<meta name=\"description\" content=\"Brightline West, the high-speed rail project that seeks to connect Las Vegas and Southern California, is turning to investors to raise funds.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.casino.org\/news\/brightline-west-offers-3b-bonds-build-las-vegas-california-train\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Brightline West Offers $3.2B in Bonds to Build Las Vegas to CA Train\" \/>\n<meta property=\"og:description\" content=\"Brightline West, the high-speed rail project that seeks to connect Las Vegas and Southern California, is turning to investors to raise funds.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/brightline-west-offers-3b-bonds-build-las-vegas-california-train\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2020-09-29T20:11:38+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-09-29T21:30:39+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2020\/09\/11448142_web1_primmbackup.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"805\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Devin O'Connor\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@CasinoorgDevinO\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Devin O'Connor\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/brightline-west-offers-3b-bonds-build-las-vegas-california-train\/\",\"url\":\"https:\/\/www.casino.org\/news\/brightline-west-offers-3b-bonds-build-las-vegas-california-train\/\",\"name\":\"Brightline West Offers $3.2B in Bonds to Build Las Vegas to CA Train\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/brightline-west-offers-3b-bonds-build-las-vegas-california-train\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/brightline-west-offers-3b-bonds-build-las-vegas-california-train\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2020\/09\/11448142_web1_primmbackup.jpg\",\"datePublished\":\"2020-09-29T20:11:38+00:00\",\"dateModified\":\"2020-09-29T21:30:39+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/02b4fee8814a4003903b0021bffb4ebf\"},\"description\":\"Brightline West, the high-speed rail project that seeks to connect Las Vegas and Southern California, is turning to investors to raise funds.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/brightline-west-offers-3b-bonds-build-las-vegas-california-train\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/brightline-west-offers-3b-bonds-build-las-vegas-california-train\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/brightline-west-offers-3b-bonds-build-las-vegas-california-train\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2020\/09\/11448142_web1_primmbackup.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2020\/09\/11448142_web1_primmbackup.jpg\",\"width\":1200,\"height\":805,\"caption\":\"Traffic is common on I-15 in and out of Las Vegas to Southern California, but Brightline West believes it has a solution. 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