Sphere Entertainment completes sale of interest in Tao Group Hospitality

Sphere Entertainment has completed the sale of its 66.9% majority interest in Tao Group Hospitality to Mohari Hospitality, a global investment company focused on the luxury lifestyle and hospitality sectors. The completion of the sale follows a successful bidding process with multiple parties, which reflects that since the Company acquired a majority interest in 2017, Tao Group Hospitality has transformed into a global powerhouse in entertainment dining and hospitality. As previously disclosed, in connection with the sale, Sphere Entertainment has also entered into a multi-year agreement with Tao Group Hospitality for ongoing consulting, marketing, and support services.