Shares of Sphere Entertainment surged by 11% on Monday following the highly successful debut weekend of the company’s new Las Vegas venue.

Founded as a passion project by James Dolan, the owner of the New York Knicks, Sphere Entertainment marked the opening of its venue with electrifying performances by the iconic rock band U2 on both Saturday and Sunday evenings.

The Sphere is set to become a hub for live concerts and sporting events, CNBC reported.

Enthusiastic fans took to social media platforms to express their excitement about the performances, which appeared to draw substantial crowds.

Sphere Entertainment bills itself as a “next-generation entertainment medium,” aiming to revolutionize live entertainment experiences with its cutting-edge dome-shaped arena and immersive wall-to-wall video screens.

The Las Vegas venue represents the company’s inaugural venture in this innovative direction.

Furthermore, Sphere Entertainment has disclosed its intentions to construct another Sphere venue in London, pending necessary approvals.

As of now, the company boasts a market capitalization of approximately $1.4 billion.

Written by staff