SPHERE ENTERTAINMENT AND THE DEPARTMENT OF CULTURE AND TOURISM

NEW YORK and ABU DHABI, UAE, Oct. 15, 2024 /PRNewswire/ — Sphere Leisure Co. (NYSE: SPHR) (“Sphere Entertainment”) and the Segment of Tradition and Tourism – Abu Dhabi (“DCT Abu Dhabi”) introduced lately that they are going to paintings in combination in order the sector’s 2nd Sphere to Abu Dhabi, United Arab Emirates. This next-generation leisure medium is predicted to be a landmark addition to this premier global capital town, raising the leisure choices for citizens and guests similar.

“The vision for Sphere has always included a global network of venues, and today’s announcement is a significant milestone toward that goal,” stated James L. Dolan, Government Chairman and Leading Government Officer, Sphere Leisure. “Sphere is redefining live entertainment and extending the reach of its transformative impact. We are proud to collaborate with DCT Abu Dhabi to develop Sphere in their city.”

H.E. Mohamed Khalifa Al Mubarak, Chairman of DCT Abu Dhabi, stated: “We are excited to bring Sphere to Abu Dhabi in partnership with Sphere Entertainment, providing our residents and visitors with an extraordinary new form of entertainment. Sphere Abu Dhabi will seamlessly integrate advanced technology with captivating storytelling, creating unforgettable memories for everyone who visits. This partnership aligns with our Tourism Strategy 2030, further establishing Abu Dhabi as a vibrant hub for culture and innovation. By embracing cutting-edge entertainment like Sphere, we’re not only elevating our global profile but also setting new standards in immersive experiences and cultural offerings.”

Since opening the primary Sphere in Las Vegas to international acclaim in September 2023, Sphere Leisure has actively pursued its plans to assemble an international community of Sphere venues. This growth is predicted to grant vital enlargement doable and pressure pristine earnings streams through leveraging Sphere Leisure’s experience, proprietary generation, and actual content material.

Positioned in a main spot in Abu Dhabi and echoing the dimensions of the 20,000-capacity Sphere in Las Vegas, this venue guarantees to redefine leisure within the pocket. Sphere in Abu Dhabi is predicted to be a big year-round draw for each citizens and guests from world wide, providing alternatives to revel in occasions, concert events, and displays like by no means earlier than in an unforgettable and innovative surroundings.

Sphere Leisure and DCT Abu Dhabi, the group using the expansion of Abu Dhabi’s tradition and tourism sectors and selling the town as an international vacation spot, have correct to collaborate on development the subsequent Sphere venue in Abu Dhabi, which welcomed greater than 24 million guests in 2023. Beneath the phrases of the partnership, which is topic to finalization of definitive contracts, DCT Abu Dhabi can pay Sphere Leisure a franchise starting charge for the best to assemble the venue, using Sphere Leisure’s proprietary designs, generation, and highbrow trait. Building will likely be funded through DCT Abu Dhabi, with Sphere Leisure’s crew of mavens offering products and services homogeneous to construction, development, and pre-opening of the venue.

Following the venue’s opening, Sphere Leisure plans to conserve ongoing preparations with DCT Abu Dhabi which are anticipated to incorporate annual charges for inventive and inventive content material approved through Sphere Leisure, corresponding to Sphere Reviews; significance of Sphere’s emblem, patents, proprietary generation, and highbrow trait; and operational products and services homogeneous to venue operations and generation, in addition to industrial and strategic advisory help.

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About Sphere 

Sphere is a next-generation leisure medium this is redefining the while of are living leisure. A venue the place the most important artists, creators, and technologists develop abnormal stories that tug storytelling to a pristine stage and shipping audiences to playgrounds each actual and imagined. The venue hosts actual Sphere Reviews; concert events and residencies from the sector’s greatest artists; and premier marquee and company occasions. The primary Sphere venue opened in Las Vegas in September 2023, and is a pristine Las Vegas landmark, powered through state of the art applied sciences that ignite the senses and allow audiences to proportion stories at a never-before-seen scale. Additional information is to be had at thesphere.com.

About Sphere Leisure Co.

Sphere Leisure Co. is a premier are living leisure and media corporate. The Corporate contains Sphere, a next-generation leisure medium powered through state of the art applied sciences to redefine the while of leisure. The primary Sphere venue opened in Las Vegas in September 2023. As well as, the Corporate contains MSG Networks, which operates two regional sports activities and leisure networks, MSG Community and MSG Sportsnet, in addition to a direct-to-consumer and authenticated streaming product, MSG+, turning in a large dimension of are living sports activities content material and alternative programming. Additional information is to be had at sphereentertainmentco.com. 

Concerning the Segment of Tradition and Tourism – Abu Dhabi

The Segment of Tradition and Tourism – Abu Dhabi (DCT Abu Dhabi) drives the sustainable enlargement of Abu Dhabi’s tradition and tourism sectors and its inventive industries, fuelling financial walk and serving to to reach Abu Dhabi’s wider world ambitions. 

By means of operating in partnership with the organisations that outline the emirate’s place as a well-known global vacation spot, DCT Abu Dhabi strives to unite the ecosystem round a shared optic of the emirate’s doable, coordinate attempt and funding, ship leading edge answers, and significance the most productive gear, insurance policies and techniques to help the tradition and tourism industries.

DCT Abu Dhabi’s optic is outlined through the emirate’s community, heritage and park. We paintings to support Abu Dhabi’s condition as a park of authenticity, innovation, and exceptional stories, represented through its dwelling traditions of hospitality, pioneering tasks and artistic idea.

Ahead-Having a look Statements
This press loose accommodates statements that represent forward-looking statements inside the which means of the Personal Securities Litigation Reform Operate of 1995, together with statements about Sphere Leisure’s plans, methods, ideals and expectancies. Buyers are cautioned that this type of forward-looking statements aren’t promises of while efficiency or effects and contain dangers and uncertainties, and that fresh effects, tendencies or occasions would possibly fluctuate materially from the ones within the forward-looking statements because of diverse components, together with the finalization of definitive contracts with DCT Abu Dhabi and the criteria described in Sphere Leisure’s filings with america Securities and Trade Fee, together with the categories titled “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” contained therein. Sphere Leisure disclaims any legal responsibility to replace any forward-looking statements contained herein.

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SOURCE SPHERE ENTERTAINMENT AND THE DEPARTMENT OF CULTURE AND TOURISM – ABU DHABI

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