Cost Of The MSG Sphere In Las Vegas Is Rising — Again

Construction in Las Vegas is never ending, and one big project is costing even more money!

The MSG Sphere in Las Vegas, is set to open in September, but construction costs are on the rise - again -  for the entertainment venue .

Representatives of Sphere Entertainment Co. (a spinoff of Madison Square Garden Entertainment Inc.), announced this week that construction costs had climbed to $2.3 billion. Its prior estimate was $2.18 billion. The company said the increases reflect the “overall complexity of the project.”

Thus far, an estimated $2.08 billion has been spent on the project, which received $65 million from The Venetian. Installation of the interior screen at the Sphere is expected to be completed this month.

The MSG Sphere is located just east of The Venetian Expo. The 17,500-seat performance venue will open Sept. 29 with the start of a five-week, 17-performance run of U2.

On Oct. 6, the Sphere will debut “Postcard from Earth,” a one of a kind immersive film production that will run several times a day, year-round. It was designed to show off the venue’s next gen technologies. The Sphere will also be a main location for the first ever Formula One Las Vegas Grand Prix race in November. Grandstands will be built outside the building.

Earlier this year, the Sphere’s parent company started taking steps to try to reduce costs. The sale of Tao Group Hospitality was one of the initiatives to save money. In mid-April, Mohari Hospitality purchased MSG Entertainment’s 66.9 percent stake in Tao Group for $550 million. Tao Group oversees the Tao, Hakkasan, Omnia, Marquee and Lavo brands in Las Vegas, and has more than 80 branded locations in markets across four continents.

According to the Las Vegas Review Journal, Executive Chairman and CEO James Dolan said in a press release: “With the completion of the spinoff of our traditional live entertainment business and the sale of our interest in Tao Group Hospitality, our company has enhanced flexibility to execute its business strategy.  As we approach the opening of Sphere in Las Vegas, we remain confident that this next chapter for our company will drive long-term shareholder value.”

In a nutshell, Las Vegas continues to grow by leaps and bounds. It's very impressive - and expensive. I continue to wonder, and ask, how Las Vegas locals really feel about all of this?

The Las Vegas Convention and Visitors Authority construction list shows 581,000 square feet of new convention space and more than 4,700 new hotel rooms in Las Vegas, bringing the total inventory to more than 156,000 rooms. Here are some of the current building projects in Las Vegas.

The Fontainebleau will have 3,700 rooms and 550,000 square feet of convention space.

Carla Rea via BMG Las Vegas

New York New York rooms will have a brand new look as part of a $63 million renovation taking place.

Hulton Archive via Getty Images

New attractions, and a $30 million room renovation at Circus-Circus.

Kevin Winter via Getty Images

Interior and exterior renovation of the Miracle Mile Shops attached to the Planet Hollywood Resort.

Jacob Andrzejczak / Stringer via Getty Images

Station Casinos' Durango Hotel and Casino is a $750 million project will add more than 200 rooms and 21,000 square feet of meeting and convention space.

Carla Re via BMG Las Vegas

Toward the end of 2023, Golden Entertainment is expected to open its $70 million Atomic Range golf entertainment complex next door to the Strat.

Harry Engels / Stringer via Getty Images

Mandalay Bay is investing $100 million in a renovation of its meetings spaces. The renovation won’t be completed until 2024, which also includes news Stripsteak will get a renovation in 2023.