Enlarge / A view of the exit of The Boring Company’s test tunnel in Hawthorne. (credit: The Boring Company)

LVCVA officials recommended The Boring Company’s proposal to the board back in March, saying that it had the most competitive price among the transportation companies that submitted proposals. At the time, Boring Company officials said they could build the Convention Center’s transportation system for between $33 million and $55 million. According to the Las Vegas Sun, the final cost for the project is expected to be $52.5 million.

The concept behind Elon Musk’s Boring Company is to ameliorate traffic by significantly reducing the cost of tunneling, and moving people through those tunnels on electric cars or electric skates at speeds up to 155 miles per hour. Musk has said that more tunnels will be able to be built because his tunnels will have cost advantages that come from technical improvements of boring machines, re-using dirt to create concrete reinforcement, continuous tunneling and reinforcing operations, and from digging smaller tunnels that don’t need to accommodate internal combustion engines.