Las Vegas tourism board OKs transit system talks with Musk firm The Boring Company

A company backed by tech billionaire Elon Musk moved a step closer Tuesday to building tunnels for an express transit system at a massive Las Vegas convention center despite some local opposition.

The board of directors of the Las Vegas Convention and Visitors Authority voted to authorize contract negotiations with the Musk-backed enterprise The Boring Company.

Authority staff and the company will now develop a detailed design and negotiate the terms of a contract. The project is expected to cost between $35 million and $55 million. The company would pay the cost up front and be reimbursed once the project is completed.