Ground Breaks On MSG Sphere Las Vegas

The Madison Square Garden Company and Las Vegas Sands Corp. have broken ground on the MSG Sphere at The Venetian Las Vegas, a new entertainment venue slated to open in fiscal year 2021. A price tag for the project remains under wraps.

Nevada Gov. Brian Sandoval attended the groundbreaking event. According to the MSG Company and Sands, the new venue will create an estimated 3,500 local jobs each year during construction and 4,400 jobs annually once the venue is open.

MSG Sphere is also expected to generate annual economic output of $730 million from venue operation and incremental visitation to Las Vegas. State and local coffers could benefit to the tune of $48 million in annual tax revenue.

“This truly is the next chapter in the history of the evolution of the entertainment capital of the world,” Gov. Sandoval said at the ceremonial groundbreaking. “When you’re in the middle of making history, you don’t realize that you’re making it. When you look at the Sphere, it is unlike anything on planet Earth. This will be the first of its kind, right here in Las Vegas, Nevada.”

The MSG Sphere will be located on a 63-acre site on Sands Avenue between Manhattan Street and Koval Lane. It will have a height of more than 360 feet and a width of more than 500 feet. The property has capacity for more than 18,000 seats, all which will face the stage. The Sphere will have the largest and highest resolution LED screen on Earth, according to a press release.

MSG Sphere’s construction joins the rising $1.8 billion Raiders Stadium as another major project soon set to further the evolution of America’s casino hub.

According to a Silver State report, a NFL team in Las Vegas could bring 400,000 additional people to the city annually and generate $620 million in annual economic activity. Some of that would come from increased sports betting volume at local casinos. The state estimates than an additional 700,000 hotel stays citywide will result from the stadium.

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