Skift Take

The Sphere, headlined by iconic Irish rock band U2, is quite the spectacle. But whether it will be a profitable spectacle isn't in the cards yet.

Selene Brophy

Las Vegas likes to gamble, and the opening of The Sphere arena in September was certainly a gamble for its operator. Fresh data shared on Wednesday highlighted the risks and potential rewards.

Five years in the making, the $2.3 billion marvel stands 366 feet tall and opened with Irish rock band U2 bringing the world's largest 16K high-resolution LED screen to life.

The Sphere Entertainment Company said the arena's opening brought in event-related revenues of $4.1 million, supplemented by $2.6 million from sponsorship and advertising.

https://www.instagram.com/p/CyHpE_eJBBw/ Eyeing The Sphere's Costs

The revenue was a fraction of its first quarter's direct operating expenses, which totaled $7.8 million.

The breakdown of these expenses reveals $2.8 millio