NEW YORK, NY--(Marketwire - Nov 20, 2012) - 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)
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