Madison Square Garden’s lavish Las Vegas project is getting even pricier than planned.
The construction price of the MSG Sphere entertainment venue has grown by $300 million in the four years since groundbreaking — and has now hit $2.2 billion.
- The 17,500-seat venue, slated to open in 2023, can host boxing, mixed martial arts, and other fighting events, in addition to a wide range of immersive entertainment.
- In May, MSG inked a deal with Formula 1 related to its Las Vegas race in November 2023. The track will pass through MSG Sphere’s 17-acre site, and the venue will erect temporary grandstands for the event.
- The Sphere will be Las Vegas’ most expensive sports venue, surpassing the Raiders’ Allegiant Stadium, which cost $1.9 billion and opened in 2020.
The owner of the New York Knicks and Rangers, and Madison Square Garden is looking to make good on the investment through events and corporate deals, including those related to advertising on its 580,000 square-foot, outdoor LED screen.
Las Vegas could add MLB and NBA teams in the coming years. The Oakland A’s have explored a move to Sin City, but even if they remain in Oakland, MLB will likely expand in the next decade.
Meanwhile, LeBron James has said he wants to own an NBA team in Las Vegas.
The city will host Super Bowl LVIII in February 2024.