Lots of money to be made
Sphere Entertainment Co. has already opened conversations with Maryland, Prince George’s officials, and Peterson Cos., a property management company, to bring the popular entertainment attraction next to the MGM complex.
If approved, the new Sphere would only be the second of its kind. Prince George’s County Executive Aisha Braveboy said it would hold an estimated 6,000 people and could be ready to open in three to four years.
Braveboy also claimed the tax revenue generated by the Sphere would surpass that of the Washington Commanders, who are moving back to Washington D.C. in 2030, and Six Flags, which closed at the end of the 2025 season, combined.
“This will be one of the largest economic development projects in Prince George's County history -- proving once again our state is the best place in the country to bring dreams to life,” Maryland Gov. Wes Moore (D) wrote, per WUSA9. “We're excited for this means for our people.”
While the project has received support, the estimated $1.4 billion project still has a variety of hurdles it must clear before it is greenlit for construction.
Lots of competition
For the project to receive approval, the developers need to prove that the facility will create about 4,700 jobs as it has estimated. Maryland, Prince George’s County, and Peterson Cos. will also be required to provide more than $200 million toward its construction.
According to Gov. Moore’s office, Maryland would contribute $13.5 million toward the project, including a $10 million capital grant that is included in the proposed FY2027 budget. The Maryland Economic Corp. would provide $3 million in financial incentives, and the Department of Commerce would supply nearly half a million in advertising funds.
Prince George’s already promised to provide $170 million, including $130 million in increment financing and $40 million for the construction of a parking garage owned and operated by the county that would be paid for using public bonds.
The Peterson Cos. would provide a discounted lease or land sale worth about $15 million.
Prince George’s wasn’t the only location that was interested in housing the next Sphere, according to Braveboy.
“My team did an amazing job of putting together a deal that protected the people of Prince George’s County, but also incentivized a major company to move such an iconic venue here to Prince George’s County,” she said. “Let’s just say our neighbors were in the mix, and other states across the country.”
Adding the venue next to the MGM National Harbor would greatly influence casino foot traffic, making it a win-win for everyone involved.
The Sphere proposal is still under negotiation.