Created a one-of-a-kind immersive venue concept with massive wraparound screens that no other arena could replicate. Positioned as a destination experience in Vegas, attracting premium acts and audiences willing to pay hundreds to thousands per ticket.
COVID and inflation doubled the budget from $1.3B to $2.3B, destroying the economics before doors even opened. The massive AV setup required for the screens means only a handful of bands can do residencies here, giving those acts huge pricing power and limiting the venue to just a few profitable nights per week.
Generating massive revenue per show but losing over $100M annually. The return on investment math was broken when costs doubled. Tough to see a path to profitability with such limited tenant options and idle capacity.
