Following the company’s new Las Vegas venue’s successful opening weekend, shares of Sphere Entertainment surged 11% on Monday.
The rock group U2 will perform on Saturday and Sunday night at the venue opening, which is being hosted by the entertainment and media company, which is a pet project of James Dolan, the owner of the New York Knicks. Live sporting events and concerts are planned at The Sphere.
Social media was used by fans to express their excitement about the shows, which seemed to draw a sizable crowd.
Sphere bills itself as a “next-generation entertainment medium,” complete with wall-to-wall video screens and a futuristic dome-shaped arena, that attempts to reinvent live entertainment. This is the company’s first opening in Las Vegas.
A second Sphere will be built in London, according to the company’s plans, subject to approvals.
The market capitalization of the company is 1.4 billion dollars.
