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 11% Monday following the successful opening weekend of the corporate’s latest Las Vegas venue.
The entertainment and media company, a pet project of Latest York Knicks owner James Dolan, paired its venue opening with a performance from rock band U2 on each Saturday and Sunday night. The Sphere plans to host live concert events and sporting events.
Fans took to social media to share their excitement at the performances, which appeared to have an enormous turnout.
Sphere calls itself a “next-generation entertainment medium” that goals 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 corporate’s first opening.
The corporate has also announced plans to construct one other Sphere in London, pending approvals.
The corporate’s market cap sits at about $1.4 billion.