Sphere Entertainment Co. (NYSE: SPHR), the company behind the Sphere venue in Las Vegas, has teamed with the State of Maryland, Prince George’s County, and Peterson Companies to announce the development of a new venue at National Harbor, a popular entertainment and tourism development outside of Washington, DC.
The new venue will be the second of its kind in the US and the first to utilize a smaller-scale design model featuring a 6,000-seat structure; the Las Vegas Sphere seats 17,600. According to the company, this project will be funded with a combination of public and private money, including approximately $200 million in state, local, and private incentives. Sphere claims the project will support approximately 2,500 jobs during the construction phase, and 4,750 jobs once operational, with the goal of generating more than $1 billion annually.
The Las Vegas Sphere offers concerts, immersive shows, and special events. Most recently, it has gained wide attention for a new 4D version of the film classic “The Wizard of Oz.”
“Our focus has always been on creating a global network of Spheres across forward-looking cities,” said James L. Dolan, executive chairman and CEO of Sphere Entertainment. “Sphere is a new experiential medium. With a commitment to bringing innovative opportunities to residents and visitors, Governor Moore, County Executive Braveboy, the State of Maryland, and Prince George’s County recognize the potential for a Sphere at National Harbor to elevate and advance immersive experiences across the area.”
Photo: Y2kcrazyjoker4 / Wikimedia Commons
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