Sphere Entertainment is planning to continue its global expansion in the coming year after posting significant revenue gains generated largely by its globe-shaped venue in Las Vegas.
The New York-based company is eyeing Middle East development in addition to its previously announced plans for a similar yet smaller high-tech arena in National Harbor in the Washington, D.C., area.
“As we begin 2026, we remain focused on expanding Sphere’s global footprint, including advancing our plans to bring Sphere to Abu Dhabi and National Harbor, and believe the Company is well-positioned for long-term growth,” Sphere Executive Chairman and CEO James Dolan said in a statement Thursday.
Sphere Entertainment reported fourth-quarter revenue reached $394.3 million, rising 28% from a year earlier, fueled largely by a 62% jump in revenue for its Las Vegas venue located next to the Venetian Resort. The company reported net income of $28.9 million for the quarter, improving on its year-earlier net loss of $142.9 million, and the first profit for the Sphere venue since it opened in Vegas in 2023. The company's share price was up about 22% when markets closed Thursday.
The company also operates MSG Networks, a system of regional sports cable and streaming networks primarily serving New York and neighboring Northeast states.
Prior to its opening, the Sphere generated more expenses than revenue for the entertainment company, totaling about $2.3 billion in development costs over the course of its seven years of construction, according to previous company reports.
Sphere Entertainment this week said its “Wizard of Oz” show, which opened in August at the Las Vegas venue, had sold more than 2 million tickets as of mid-January. The venue also recently debuted a live interactive game experience on the Exosphere, its programmable exterior screen spanning nearly 580,000 square feet and consisting of more than 1 million LED lights. That venture is being operated in collaboration with Lego Group and "Star Wars" producer Lucasfilm.
Sphere Entertainment last month announced plans with the state of Maryland, Prince George’s County and Peterson Cos. to develop its second U.S. Sphere venue at National Harbor near Washington, D.C. Company officials said the venue would deploy a “smaller-scale design model” compared with the Las Vegas original, which seats nearly 20,000.
Regional officials said the planned D.C.-area venue, with a capacity around 6,000, is expected to be one of the largest economic development projects and tax generators for Prince George’s County. Officials said it could offset some tourism losses to be created by the pending relocation of the NFL’s Washington Commanders and the closing of the Six Flags America theme park.