A globe-shaped entertainment venue planned near Washington, D.C., is expected to help boost entertainment revenue in an area that’s anticipating a decline in tax dollars from the expected relocation of an NFL team and the shuttering of a nearby amusement park.
Sphere Entertainment Co. and Virginia-based developer Peterson Cos. said they plan to create the convex destination, known as the Sphere, in Maryland’s waterfront National Harbor district. The proposed venue, with a capacity of 6,000, would be a scaled-down version of the popular Las Vegas Sphere.
Featuring a massive high-resolution screen and other advanced technologies meant to create immersive concerts and films, the domed attraction just outside of D.C. would be the second Sphere in the United States and the only one on the East Coast. It’s the latest in a global network of experiential venues that Sphere Entertainment envisions erecting. The company also plans to build Sphere Abu Dhabi in the United Arab Emirates.
The upcoming Sphere in Maryland is expected to be one of the largest economic development projects and tax generators for Prince George’s County, local officials said, serving as a new source of tourism dollars as the NFL’s Washington Commanders prepare to leave Prince George’s and return to the nation’s capital in 2030. Moreover, the Six Flags America theme park recently closed its gates for good in the county.
“The revenue from the Sphere, expected to be more than $1 billion annually, will more than triple the taxes from Northwest Stadium and Six Flags combined,” Prince George’s County Executive Aisha Braveboy said in a statement.
The complex is expected to open in 2030 and cost more than $1 billion to build, the Washington Post reported. The project is seeking about $200 million in state, local and private incentives.
Construction, development, financing and operations are contingent upon, among other things, the negotiation and execution of definitive agreements, as well as receipt of certain governmental incentives and approvals from the county and state.
Based on a rendering from Sphere Entertainment and Peterson, the project appears to be slated for a site near the MGM National Harbor hotel and casino. The entertainment complex reported a roughly 7% year-over-year decrease in total gaming revenue during December, adding another possible motivation for local officials to find additional ways to draw crowds.
National Harbor counts about 15 million visitors annually and has evolved since the Gaylord National Resort & Convention Center, the largest non-gaming hotel and convention center on the East Coast, opened there in 2008.
The Las Vegas Sphere, which opened in fall 2023 and seats about 18,600 people, took five years and cost $2.3 billion to construct.
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‘ Some details of this article were extracted from the following source www.costar.com ’
