Sphere Entertainment Eyes National Harbor for Second U.S. Venue, Pioneering Smaller-Scale Design
Sphere Entertainment Co. (NYSE: SPHR) has announced its intention to develop a new Sphere venue at National Harbor, Maryland. This would mark the second U.S. location for the immersive entertainment giant and introduce a novel, smaller-scale design model. The project, a collaboration between Sphere Entertainment, the State of Maryland, Prince George’s County, and Peterson Companies, aims to leverage advanced technology to create unparalleled experiences and significant economic benefits for the region.
The proposed venue at National Harbor, situated within the vibrant Washington, D.C. metropolitan area, is poised to become a landmark attraction. It is expected to drive substantial economic, cultural, and community growth, while offering visitors unique, cutting-edge immersive experiences. This initiative underscores Sphere Entertainment’s strategic vision to expand its global network of venues in key global cities.
“Our focus has always been on creating a global network of Spheres across forward-looking cities,” stated James L. Dolan, Executive Chairman and Chief Executive Officer of Sphere Entertainment. “Sphere is a new experiential medium. With a commitment to bringing innovative opportunities to residents and visitors, Governor Moore, County Executive Braveboy, the State of Maryland, and Prince George’s County recognize the potential for a Sphere at National Harbor to elevate and advance immersive experiences across the area.”
The project has garnered strong support from state and local officials. Governor Wes Moore emphasized Maryland’s track record in entertainment and expressed enthusiasm for the transformative potential of this project, calling it one of the largest economic development initiatives in Prince George’s County history.
Prince George’s County Executive Aisha N. Braveboy highlighted the project as a “world-class win” and a testament to the robust partnerships forged with the state. She views this as a signal of the future of economic development in the county, attracting other world-class destinations and solidifying its competitive edge.
Jon Peterson, CEO of Peterson Companies, expressed excitement about the partnership, anticipating that the Sphere will further solidify National Harbor’s status as a premier destination for conventions, entertainment, retail, dining, and hospitality. He believes it will boost economic activity and job creation, positioning Maryland as a leading tourism and entertainment hub.
Financing for the project will include approximately $200 million in state, local, and private incentives. The development is projected to create approximately 2,500 construction jobs and support 4,750 operational jobs. The anticipated annual economic impact for the county and state is estimated to exceed $1 billion.
National Harbor, strategically located near Washington, D.C., is already a significant draw, attracting over 15 million visitors annually with its diverse offerings. A Sphere venue is expected to become a consistent year-round attraction, hosting original Sphere Experiences, concerts, and corporate events.
This new venture will introduce a smaller-scale Sphere design, with a capacity of 6,000 seats, a departure from the larger Las Vegas venue. However, it will retain the signature immersive technologies that define the Sphere experience. This includes the Exosphere, the venue’s exterior LED display, and a 16K x 16K interior LED screen—the world’s highest-resolution LED display. Patrons can also expect Sphere Immersive Sound, haptic seating, and 4D environmental effects.
The development is contingent upon the negotiation and execution of definitive agreements, along with the securing of necessary governmental incentives and approvals from Prince George’s County and the State of Maryland.
**About Sphere**
Sphere is an experiential medium that is redefining the future of immersive experiences. Powered by advanced technologies that ignite the senses, Sphere is a venue where the foremost artists, creators, and technologists create extraordinary experiences that bring storytelling to a new level and transport audiences to places both real and imagined. The venue hosts original Sphere Experiences from leading Hollywood creatives; concerts and residencies from the world’s biggest artists; and premier brand events. The first Sphere opened in Las Vegas, with a second venue planned for Abu Dhabi. More information is available at thesphere.com.
**About Sphere Entertainment Co.**
Sphere Entertainment Co. is a leader in immersive experiences, technology and media. The Company includes Sphere, an experiential medium powered by advanced technologies. The first Sphere opened in Las Vegas, with a second venue planned for Abu Dhabi. In addition, the Company includes MSG Networks, which operates two regional sports and entertainment networks, MSG Network and MSG Sportsnet, as well as a direct-to-consumer and authenticated streaming product, MSG+, delivering a wide range of live sports content and other programming. More information is available at www.sphereentertainmentco.com.
**About Peterson Companies**
Peterson Companies is one of the largest privately-owned real estate development companies in the Washington, D.C. region, with a diverse portfolio spanning mixed-use, retail, residential, office, industrial, and self-storage assets. For more than 60 years, the company has delivered prominent destinations such as National Harbor, Rio, Fairfax Corner, Tysons McLean Office Park, and Fair Lakes. Combining market expertise with a fully integrated development platform, Peterson Companies develops vibrant residential and business districts throughout the region. For more information, visit www.petersoncos.com.
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