It owns the Sphere event venue in Paradise, Nevada, in the Las Vegas Valley and New York-based regional sports network chain MSG Networks.

[3] In March 2023, MSG Entertainment's board approved a plan to spin off its "traditional" live entertainment business, leaving its regional sports networks and forthcoming Sphere venue in Las Vegas.

Executive chairman and CEO James L. Dolan stated that the spin-off would result in two companies "well positioned to generate long-term value for our shareholders.

[5][6] Sphere briefly included MSGE's nearly 67% stake in hospitality company Tao Group; on April 18, 2023, Mark Scheinberg's Mohari acquired the stake for $550 million.

[9] In June 2024, Sphere executive Jennifer Koester was promoted to president and chief operating officer.