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Mar 31, 2023
MSG Spinco Q3 2023 Earnings Report
Sphere Entertainment Co. reported an increase in revenue and an operating loss for the fiscal third quarter.
Key Takeaways
Sphere Entertainment Co. reported a 3% increase in revenues to $363.3 million for the fiscal third quarter ended March 31, 2023. The company also reported an operating loss of $70.3 million and adjusted operating income of $19.4 million.
Completed the spin-off of its traditional live entertainment business in April.
Completed the sale of its 66.9% majority interest in Tao Group Hospitality earlier this month.
Sphere in Las Vegas is on track to open in September 2023.
Adjusted construction cost estimate for Sphere in Las Vegas is approximately $2.3 billion.