Just days after U2 kicked off its residency at the Las Vegas Sphere, Sphere Entertainment – the company behind the massive LED dome – stock soared 11% on Monday.
First conceived as the MSG Sphere in 2018 by Madison Square Garden owner James Dolan, the Sphere’s nearly five-year construction reportedly cost $2.3 billion.
The Sphere is expected to host additional concerts and sporting events following the U2 residency, with potential plans to build a second Sphere venue in London in the works pending permit approvals.
As of Monday, Sphere Entertainment’s market cap sat at $1.4 billion.
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