The Sphere is seen during its opening night with the U2:UV Achtung Baby Live concert at the Venetian Resort in Las Vegas on Sept. 29, 2023.
Tayfun Coskun | Anadolu Agency | Getty Images
Sphere Entertainment shares soared more than 10% Monday following the successful opening weekend of the company’s new Las Vegas venue.
The entertainment and media company, a pet project of New York Knicks owner James Dolan, paired its venue opening with a performance from rock band U2 on both Saturday and Sunday night. The Sphere plans to host live concerts and sporting events.
Fans took to social media to share their excitement at the performances, which appeared to have a big turnout.
Sphere calls itself a “next-generation entertainment medium” that aims to bring a fresh take to live entertainment, fit with a futuristic dome-shaped arena and wall-to-wall video screens. The Las Vegas venue is the company’s first opening.
The company has also announced plans to build another Sphere in London, pending approvals.
The company’s market cap sits at about $1.4 billion.
Source: https://www.cnbc.com/2023/10/02/sphere-entertainment-stock-jumps-after-u2-performs-at-las-vegas-venue.html
Meet Jaydon Hermann, the driving force behind Business Press Daily. As our Editor-in-Chief, Jaydon is dedicated to delivering the latest and most insightful news in the business world. With a passion for uncovering stories that matter, Jaydon leads our team in providing you with the most up-to-date and informative newsroom experience.