O'Keeffe Stevens Advisory highlighted Sphere Entertainment's continued strong performance in its second-quarter 2026 investor letter, citing robust underlying unit economics despite weaker Las Vegas Strip attendance. The firm noted that ongoing success in Las Vegas makes selling future Sphere venues easier, and that Sphere Abu Dhabi remains on track despite regional conflict concerns. Sphere also announced a new immersive experience, 'Rocky Horror Picture,' which is expected to add incremental high-margin shows and increase utilization. The advisory expressed willingness to let the position grow large given the quality of the asset and management, even at a higher valuation, while pointing to positive year-over-year visitation trends in Las Vegas and the exosphere as an emerging high-margin revenue driver.
Sphere Entertainment Co.Strong unit economics, new immersive show 'Rocky Horror Picture' expected to add high-margin shows and increase utilization
Madison Square Garden Sports Corp