Las Vegas Sphere Generates USD 487M Revenue In First Nine Months

2024-08-18 09:33:18

(MENAFN- Bangladesh Monitor)

Dhaka: Sphere, an iconic music and entertainment arena in Las Vegas, Nevada of the US, in nine months since its establishment, generated USD 497 million in revenue for the fiscal year ending on June 30, 2024.

The revenue includes USD 268 million from“The Sphere Experience”-the venue's signature immersive shows such as a multi-sensory film. The arena also hosts concerts. It hosted the NHL Draft, activities related to the Super Bowl and a Formula One Grand Prix.

Reports cited Sphere's CEO James Dolan saying, the company is“focused on executing a global vision for Sphere expansion,” adding that his team is in discussion to build similar venues abroad. According to Dolan, Sphere's impressive exterior curved LED screen called the Exosphere is driving the revenue.

Overall, the group Sphere Entertainment Co's total revenue climbed to USD 273.4 million, a 112 per cent increase year-over-year. However, in the most recent quarter, the company posted an operating loss of USD 71.4 million, reports mentioned citing the Chief Financial Officer Dave Burns.

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