Sphere's high production costs, scalability challenges trigger Sell rating [Seeking Alpha]
Sphere Entertainment Co. Class A (SPHR)
Company Research
Source: Seeking Alpha
After a celebrated launch last year with a sold-out performance by U2, The Sphere has been plagued by the need to consistently produce high-quality, engaging content to ensure the venue's “economic viability,” with the added risk that not all events will resonate with audiences. “With only one screen to recoup these significant investments, the financial risk is substantial,” said Benchmark analyst Mike Hickey. The pressure is amplified by a weakening consumer environment that could negatively impact non-gaming entertainment in Las Vegas, while a global economic downturn and the high capital required may delay approval for new Sphere locations. The scalability issue is exacerbated by the challenge of getting communities to approve the construction of a massive, glowing, and sound-emitting dome in their communities. “Given that the original Sphere took five years and $2.3B to construct, rapid expansion seems impractical,” Hickey says, adding that smaller venues are “unlikely to
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News
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- Morgan Stanley Raises Las Vegas Sphere Stake Nearly 300% [Yahoo! Finance]Yahoo! Finance