All articles tagged with #sphere entertainment
Maryland and Sphere Entertainment are planning a 6,000-seat “mini-Sphere” at National Harbor (Oxon Hill) featuring the Exosphere LED exterior and Sphere’s immersive tech. The roughly $200 million public-private project would create about 2,500 construction jobs and 4,750 permanent jobs, with an annual economic impact projected at over $1 billion, though approvals are still pending and a completion date hasn’t been announced.
Sphere Entertainment plans a smaller, 6,000-seat Sphere at National Harbor near Washington, D.C.—featuring its signature Exosphere exterior and the world’s highest‑resolution LED interior—financed by about $200 million in public and private incentives, marking the third Sphere project after Las Vegas and Abu Dhabi.
Sphere Entertainment Co., along with the State of Maryland, Prince George’s County, and Peterson Companies, announced plans to build a second Sphere in the United States—the first smaller-scale model—at National Harbor near Washington, D.C. The 6,000-seat venue would feature an Exosphere exterior LED display, a 16K x 16K interior display, Sphere Immersive Sound, haptic seating, and 4D effects, and would be funded by roughly $200 million in state, local, and private incentives. The project would create about 2,500 construction jobs and 4,750 permanent roles, with economic impact projected at over $1 billion annually, but remains contingent on definitive agreements and necessary governmental approvals.
Maryland officials plan a 6,000-seat immersive venue at National Harbor, modeled on Sphere in Las Vegas; it would be financed with about $200 million in public and private tax incentives and subsidies, making it Sphere Entertainment Cos.’ smaller “mini-Sphere,” and is expected to generate about $1 billion in annual economic activity for the DC region once built.
Sphere Entertainment Corp. reported a revenue of $314.2 million in its first full quarterly earnings report, with its Las Vegas attraction overtaking MSG Networks as the predominant breadwinner. While reporting an adjusted operating income of $51.4 million, the company also reported an operating loss of $159.7 million due to non-cash expenses. CEO James Dolan expressed confidence in the company's disruptive potential, citing positive adjusted operating income at the Sphere segment. The company's robust sponsorship business and upcoming residencies from artists like Dead & Co. and Phish indicate promising prospects, despite a decline in revenue at MSG Networks.
Sphere Entertainment's stock surged by 15% after the opening of its giant sphere-shaped concert venue in Las Vegas, which garnered rave reviews. The venue, known as the Sphere, aims to redefine live entertainment by immersing concertgoers in a 16,000 by 16,000 foot LED screen. Despite incurring an adjusted operating loss of $90 million in the most recent quarter, the company sees potential in franchising the successful concept, with plans for the Sphere to become a 365-day venue hosting multiple events per day.
Sphere Entertainment's stock surged over 10% after the successful opening weekend of its new Las Vegas venue, which featured performances by rock band U2. The company, founded by New York Knicks owner James Dolan, aims to revolutionize live entertainment with its futuristic dome-shaped arena and wall-to-wall video screens. Fans expressed excitement on social media, and Sphere plans to host live concerts and sporting events. The company also has plans to build a similar venue in London, pending approvals.
Rivian Automotive's shares rose 3.3% in premarket trading after being upgraded by Evercore ISI, which sees the electric truck maker as a potential rival to Tesla and BYD. Sphere Entertainment saw a 7% jump in its stock price after opening its Sphere venue in Las Vegas with a U2 concert. Insulet gained 3.4% after Jefferies upgraded the medical device maker, while Sunnova Energy International rose 1.5% as UBS initiated coverage with a buy rating. Clorox's stock rose 3.3% after being upgraded by D.A. Davidson, and AMC Entertainment's shares increased by 2% following the announcement of the distribution of "Renaissance: A Film by Beyoncé" in the U.S. in December.