The world’s second Sphere is coming to the Middle East
The announcement offered no financing information, nor did it say where the Sphere would be built in Abu Dhabi.
The world’s second Sphere is planned to be built in the capital of the United Arab Emirates after the opening of the first giant dome entertainment complex in Las Vegas.
Abu Dhabi’s Department of Culture and Tourism and Sphere Entertainment Co. announced the plan late Tuesday to bring a Sphere to the Middle East.
Under the deal, Abu Dhabi will pay a franchise fee to Sphere Entertainment to build the second location using its designs. Abu Dhabi’s government will pay to build the structure, as well as annual fees to Sphere Entertainment “for creative and artistic content.”
The announcement offered no financing information, nor did it say where the Sphere would be built in the Emirati capital. Abu Dhabi’s government did not immediately respond to questions about the project Wednesday. Sphere declined to comment beyond the initial announcement.
The massive $2.3 billion Las Vegas Sphere opened in 2023 as the gambling capital’s most expensive entertainment venue. A high-resolution LED screen wraps halfway around the 17,500-seat audience. It has hosted concerts and sporting events inside the world’s largest spherical structure standing at 366 feet (111 meters) tall and 516 feet (157 meters) wide.
However, efforts to build a second Sphere abroad have been choppy. London Mayor Sadiq Khan rejected a plan to build one in the city’s east over multiple concerns last year, including light pollution.
Abu Dhabi has been trying to differentiate itself as a travel destination from neighboring Dubai in the UAE, an energy-rich federation of seven sheikhdoms on the Arabian Peninsula.
The UAE is also preparing to open the first casino in the country. While the only one currently under construction is in the emirate of Ras al-Khaimah, other sheikhdoms in the country are believed to be actively considering having their own.
Sphere is the brainchild of James Dolan, the executive chair of Madison Square Garden and the owner of the New York Knicks and Rangers.
Stock in Sphere closed more than 6% higher Tuesday on the New York Stock Exchange to $48.91 a share. That’s a major boost after Benchmark last month downgraded Sphere Entertainment to “sell” over “concerns over the Sphere’s “scalability, high production costs and a potentially underwhelming profitability outlook.”
Meanwhile, some projects in the UAE have failed to be built or been delayed for years after being announced in economic downturns.
Trademark filings show Sphere Entertainment Co. trademark filings made as well in Japan, Oman and Qatar, though there’s no announced plans for similar venues. Companies often protectively trademark their names in other markets without necessarily having business there.