Launching into $tratoSphere
Achtung baby, indeed! The grand opening of James Dolan’s Las Vegas Sphere, featuring rock legends U2, over the weekend proved to be a big hit on stage and for the entertainment mogul’s bottom line.
Shares of Sphere Entertainment, the holding company formed in April to combine Sphere and Madison Square Garden Networks, soared 15% at Monday’s opening bell before closing the day at $41.29, up 11% from $37.32 Friday.
Sphere Entertainment didn’t respond to a request for comment.
It was a welcome bit of financial relief for Dolan, who owns the NBA Knicks and NHL Rangers, and Sphere shareholders after the massive $2.3 billion it cost to build the state-of-the-art venue.
The grand opening finally arrived after construction costs nearly doubled over the past three years.
Starry crowd
But a packed house of roughly 18,000 fans, including Oprah Winfrey, Paul McCartney, Jeff Bezos, LeBron James, Jon Hamm, Aaron Paul and Bryan Cranston, filed into the venue near the Venetian Resort on Friday to take in “U2:UV Achtung Baby Live At Sphere.”
The Sphere boasts a 160,000-square-foot, domed-wraparound interior and exterior LED display and has roughly 1,600 loudspeakers to create a one-of-a-kind immersive experience.
In February, The Post was the first to report that Dolan agreed to pay U2 $10 million to open the Sphere. The Irish rockers also stand to pocket more than 90% of ticket sales, sources told The Post.
Lead singer Bono, guitarist The Edge, bassist Adam Clayton and temporary drummer, Bram van den Berg — subbing for injured Larry Mullen Jr. — have another 24 shows planned for the Sphere as part of the residency.
Dolan is reportedly banking on booking between four and six residency headliners a year.
The MSG boss is said to be seeking around $40 million per year for the naming rights to the Sphere, people in the know told The Post.