Sphere reports nearly $100M operating loss at Las Vegas venue in 1st quarter

LAS VEGAS, Nev. (FOX5) - The Sphere has been the talk of the town since opening, so how did the company lose nearly $100 million in revenue since opening?

In an earnings call last week, Sphere Entertainment Company revealed that the Las Vegas venue had an operating loss of $98.4 million over the months of July, August and September.

However, the company notes that Sphere opened in late September. In that short time since opening, the company says the venue it brought in nearly $8 million in revenue.

Officials said that $4 million of that came from shows and events, while the rest of the funds came from ads that were displayed on the Sphere’s Exosphere.