|By Marketwire .||
|November 20, 2012 07:30 AM EST||
NEW YORK, NY -- (Marketwire) -- 11/20/12 -- Las Vegas Railway Express, Inc. (OTCQB: XTRN) announced the signing of a conditional agreement to provide luxury passenger train service between Las Vegas, Nevada and Los Angeles, California over Union Pacific Railroad (NYSE: UNP) lines. This agreement is contingent upon LVRE fulfilling a variety of conditions in a specified time.
Known as the "X Train," the service is currently scheduled for commencement in late 2013. Las Vegas Railway Express has signed a MOU with The Plaza Hotel & Casino on the Vegas strip for 3,100 square feet of space to be used for terminal operations with an additional 1,900 square feet for food preparation. (http://www.sec.gov/Archives/edgar/data/1405227/000109690612001796/ex10-4.htm)
In recent years, luxury train travel has made a reemergence, Amtrak began offering luxury rides on three of its trains, while several well-known European lines, Venice Simplon-Orient-Express and the Danube Express have been seeing increased ridership as many travelers turn to rail as an alternate means to air travel.
Other active railroad stocks are Providence & Worchester Railroad Company (NASDAQ: PWX) and CSX Corp (NYSE: CSX)
This report is for information purposes only, and is neither a solicitation to buy nor an offer to sell securities. Information, opinions and analysis contained herein are based on sources deemed to be reliable and are subject to change without notice. A third party has hired and paid IO Circuit one thousand two hundred and ninety five dollars for the publication and circulation of this news release. Accordingly, certain information included herein may be forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. However, no representation, expressed or implied, is made as to the accuracy, completeness or correctness. In light of the above, we accept no liability for any losses arising from an investor's reliance on or use of this report. We do not and have not had any ownership interest in said third party of any kind.
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