Posted on 11/09/2023 11:30:53 AM PST by NohSpinZone
The Sphere in Las Vegas reported an operating loss of $98.4 million for the fiscal quarter ending Sept. 30, Sphere Entertainment Co. said this morning on an earnings call.
Additionally, the company lost its chief financial officer, as Gautam Ranji has resigned, according to a Securities and Exchange Commission filing.
Ranji’s exit was “not a result of any disagreement with the company’s independent auditors or any member of management on any matter of accounting principles or practices, financial statement disclosure or internal controls,” the company said in the filing.
The New York Post reported Tuesday that Ranji suddenly quit after a bout of yelling and screaming from CEO James Dolan.
Ranji, who had been on the job for 11 months, will be replaced on an interim basis by Greg Brunner, the company’s senior vice president, according to the filing.
Sphere, the $2.3 billion venue near the Strip that opened Sept. 29 with the start of U2’s multimonth residency, “represented a significant milestone, generating worldwide attention and marking the beginning of a new chapter for our company,” Dolan said in a statement.
(Excerpt) Read more at lasvegassun.com ...
Everything in Vegas is just a tourist attraction gimmick.......................
It just opened. Did they check the CFO’s pockets on his way out?
🙏🇺🇸🇮🇱👍
>> a bout of yelling and screaming from CEO James Dolan
The same Cablevision Dolan?
Yelling and screaming is always the sign of high skill management...lol.
Reminds me of the “Thunder Dome”.
Hey... I have an idea on how they could make big money....
Not an admired family if it’s who I think it is.
The Dolan’s had a cable monopoly on Long Island.
Can you imagine if someone hacked into that thing and broadcasted porn?
So it goes in the private sector. Sometimes you win, sometimes you lose.
Over in the public sector, it’s different. All the times you win, and all the times the taxpayer loses.
As to the gimmick: If you’re sitting INSIDE the ball, what’s the thrill of the display to the outside world?
Ditto the Luxor hotel and certain other Vegas properties. Grabbing attention is good, but there’s a limit to how much money you want to invest in that. And, you’ve got to deliver on the expectation.
It’s called Sin City for a reason. Nuking that town would be an upgrade. And you wonder why Iran calls the USA, The Great Satan.
I've seen videos of it, outside and inside. Nothing that would pull me inside. I understand the parking is really expensive, and inside vendors and attractions are interesting but tickets for the video stuff is expensive. I'd rather watch the outside sphere for free - for 15 minutes at most... while guarding my wallet.
the $2.3 billion venue near the Strip that opened Sept. 29
Wow--they lost $98.5 million in only 1 day.
Pretty impressive.
“a bout of yelling and screaming from CEO James Dolan. “
I’m Shocked, Shocked I tell you...
“The Dolan’s had a cable monopoly on Long Island.”
There is a cable monopoly just about everywhere.
Dolan is a psycho lunatic egomaniac. The CFO walked out in the middle of one of his signature tirades.
But he had to know what he was getting in to when he took the job.
It’s a nice venue. I saw U2 there October 25th.
Might start making money.
Friggan Vegas is a mess. Its become so expensive that they have lost the common folks who used to keep that place going.
It has become a fantasy land like Disney.
The mob ran Vegas like it should be run. To get people to spend money you treat them like royalty. Now, go into the majority of the places and they act like you owe them a living. Aside from that, you need to watch out walking the strip at night since the tunnel rats come out and do their thing.
Yes, impressive. But you haven't met my wife.
I'm amazed they got it up and running so quickly from that point. I hear it's amazing to see inside, and the sound quality is fantastic.
But I'm with 21Twelve. Time to see what Tina Turner is up to...
Everyone who has wanted to see U2, has probably already seen U2.
I have not.
Now... Let’s let the kids from FFPD, Sleep Token, or one of those other bands with actual talent in there to play with the Sphere and see what kind of mind bending entertainment they can draw in...
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