Vegas Sphere Faces Revenue Challenges Amid High Demand and Expansion Plans
Sphere Entertainment's Las Vegas venue reported a decline in quarterly revenue to $127.1 million, down from previous quarters, despite high artist demand and successful events like The Eagles' residency and UFC 306. The venue is facing challenges in managing logistics for multiple events and securing advertising. Sphere's operating loss improved after adjustments, and plans for a new venue in Abu Dhabi were announced, funded by the local government. Sphere shares fell 8.7% following the earnings report.