Sunday, September 13, 2015

Uber, Lyft Las Vegas Buy In: $500,000 Each

The shakedown terms have been set.

Las Vegas, one of the last major US cities where Uber has not been able to operate, is opening its doors to on-demand transportation companies after new ride-hailing rules were approved across Nevada on Friday, reports FT.

The state’s largest city is considered one of the most attractive ride-hailing markets in the country because it pulls in more than 40m visitors annually, many coming to gamble or attend conferences, says FT.
The approval is the culmination of a near year-long process that has been confrontational at times. ber tried to launch in Las Vegas last October, but several drivers were fined and had their cars impounded, and the company was forced to suspend operations after a few weeks because of a statewide ban.

The regulations approved by the transportation authority for ride-hailing companies allow them to operate in the state after receiving a permit, which can cost up to $500,000 per year, according to FT.

Permits could be issued to Uber and Lyft on Monday, when the authority will rule on the companies’ applications. Fares will be subject to a 3 per cent transportation tax that applies to all transportation in Nevada.


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