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Las Vegas Sphere reports $98.4M loss; CFO quits

lasvegassun.com

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Re: Las Vegas Sphere reports $98.4M loss; CFO quits

#41

Post by Retric »

falcolas wrote: post #26

Meta: Someone please correct me. The outside of the Sphere is pretty damned awesome, with its interactive elements and novelty. I'd visit Vegas just to watch it, not that they'd make any money off me for that. The inside looks like an IMAX theater combined with a few planetarium features (lazors?). And, well, I have a really nice IMAX theater only an hour away from me. Why would I pay a premium to see the one in Vega…

People go to Vegas for other things. The question is if you would go there when you’re already in Vegas.

Re: Las Vegas Sphere reports $98.4M loss; CFO quits

#42

Post by jaredwiener »

falcolas wrote: post #26

Meta: Someone please correct me. The outside of the Sphere is pretty damned awesome, with its interactive elements and novelty. I'd visit Vegas just to watch it, not that they'd make any money off me for that. The inside looks like an IMAX theater combined with a few planetarium features (lazors?). And, well, I have a really nice IMAX theater only an hour away from me. Why would I pay a premium to see the one in Vega…

It's not really IMAX -- it's more immersive.

I saw the Postcard from Planet Earth in there -- it isn't a full 360 screen, but it does go way up and down around you.

Re: Las Vegas Sphere reports $98.4M loss; CFO quits

#43

Post by joezydeco »

nightski wrote: post #16
schaefer wrote: post #11

I'm local, and curious. If I go to the official website[1] to view all shows, they redirect me to the hellscape that is ticketmaster. That is literally only friction it takes before I'm out. The scalpers are squatting your 2 billion dollar venue. [1]: https://www.thespherevegas.com/shows

From what I understand you can't scalp, they scan ID. There are many tik toks of people buying tickets from either 3rd parties online or just scalpers and they are rejected at check in.

Ticketmaster runs their own scalping business (sorry, I meant "Verified Reseller")

Re: Las Vegas Sphere reports $98.4M loss; CFO quits

#44

Post by lacksconfidence »

alexstore06 wrote: post #40
extraduder_ire wrote: post #9

Earlier quoted context omitted.

The loss seems surprisingly low, considering the cost of building the thing. I don't expect this to end up like Brand-Briesen Airfield, or other massive buildings built and quickly sold at bankruptcy, anytime soon.

I would assume that operating loss wouldn't include the initial cost of building. Could be wrong though.

Could be loan repayments are rolled into the loss? Not that I have any particular knowledge.

Re: Las Vegas Sphere reports $98.4M loss; CFO quits

#46

Post by bluedino »

goatforce5 wrote: post #39
lvspiff wrote: post #8

How is this thing not filling nightly with $1000 tickets to Laser Floyd? Vegas has dispensaries - this seems like a no brainer.

I visited Vegas for the first time this year and I enjoyed it way more than I thought I would. I was surprised to learn that, despite its reputation as a party city, it isn't technically legal to consume cannabis on the Strip. I guess it's in the interests of MGM and Caesars to keep the alcohol flowing, and all of the profit that comes from that.

Technically? It's all you can smell when you're in that stretch between Linq and Flamingo

Re: Las Vegas Sphere reports $98.4M loss; CFO quits

#47

Post by jzb »

Havoc wrote: post #37

Initially thought it would be a useless gimmick but judging by social media reaction it seems that was wrong. It’s popular and I suspect on track to become a unique attraction

I have a friend who went to see the U2 show there and they had lots of praise for it as a venue. U2 isn't quite interesting enough to me for me to pay for the tickets and travel, but if a band I'm really into were playing there... I'd probably find the money.

(If any booking agents or whatever are reading this... get The Cure to do a residency and I'm there. If you can get the Talking Heads to do a reunion show there, you'll be printing money...)

Re: Las Vegas Sphere reports $98.4M loss; CFO quits

#48

Post by 725686 »

If you think The Sphere is cool from the outside, wait until you see the inside. The humongous spherical screen in the inside is amazing (16K resolution according to Wikipedia). U2 is sold out, and the tickets are not cheap (I payed $500 for a partially obstructed view of the screen, others run at $1,500), plus the "Sphere experience" so I think it will pay out. There is also "The Sphere Experience" movie at $50 a pop. A Capacity of about 19,000 people.

Re: Las Vegas Sphere reports $98.4M loss; CFO quits

#50

Post by fullshark »

falcolas wrote: post #26

Meta: Someone please correct me. The outside of the Sphere is pretty damned awesome, with its interactive elements and novelty. I'd visit Vegas just to watch it, not that they'd make any money off me for that. The inside looks like an IMAX theater combined with a few planetarium features (lazors?). And, well, I have a really nice IMAX theater only an hour away from me. Why would I pay a premium to see the one in Vega…

Look on youtube for some shots from inside, it's bigger and more immersive.
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