Our team of event managers will work with you every step of the way, learning your company culture, brand, and event goals to produce an event experience attendees will never forget. As a Las Vegas event management company, On The Scene has experience producing corporate events at TAO Las Vegas. Located in another one of our preferred venues, The Venetian Las Vegas, it is conveniently located and offers something for every type of event. TAO Las Vegas is one of our favorite Las Vegas event venues. With a versatile layout that can be used in a variety of way to bring your vision to life, TAO Las Vegas can accommodate lavish corporate dinners, cocktail parties, receptions, and corporate parties. Featuring 7 full-service bars, 4 different DJ booths, and high-tech audio and LED equipment, the club is perfect for your next corporate event. With 60,000 square feet of event space, TAO can accommodate groups ranging from 15 to 4,000. Much more than simply a nightclub, TAO is also one of the top restaurants in Vegas, incorporating food from China, Japan, and Thailand to create fresh contemporary Pan-Asian cuisine. Located inside the Venetian Las Vegas, TAO is a versatile Las Vegas event venue that is perfect for a wide variety of corporate events. The operators have not said much about specific entertainment at the venue.A sister venue of the original TAO in New York City, TAO Las Vegas is an Award-winning Las Vegas nightclub and restaurant. MSG Sphere will also include 23 luxury suites and a 5.7-million-cubic-foot grand entry in the central atrium. The building will include 17,500 permanent seats rising five levels, with a standing-room capacity of 20,000 for entertainment performances, concert residencies, and sporting events such as boxing. The screen, which is larger than three football fields, will be accompanied by more than 164,000 individual speakers. In addition to the outdoor LED screen, the interior of the 366-foot-tall spherical structure will have a 160,000-foot LED screen that will surround the audience. The Sphere has an outdoor high-resolution LED screen that will encompass 580,000 square feet and surround the circular structure.
MSG is funding the remaining construction expenses from cash on hand and cash flow from the company’s operations, which include Tao, New York City’s Madison Square Garden and Radio City Music Hall.
Madison Square Garden said MSG Sphere’s price, which was first revealed in 2021 at more than $1.8 billion, has risen because of inflation, issues with the global supply chain and the project’s complexity. The Sphere now has a price tag larger than the $1.9 billion Allegiant Stadium, even though the venue’s capacity is one-third the size of the 65,000-seat home of the Las Vegas Raiders.Īccording to the Post story, a sale of Tao could help MSGE close a $600 million gap in the construction budget for the MSG Sphere. The cost to build the entertainment attraction behind The Venetian has grown by more than $300 million in the four years since its groundbreaking. He added that if a Tao sale takes place, directing those funds toward the completion of MSG Sphere “puts a lot of pressure on the project to deliver on. “If the company is considering selling Tao, this could factor into the timing of the proposed spin as not only would this create an additional transaction workstream, but it could have implications around proceeds and tax treatment,” Golding wrote.
MSGE would then retain the operation of MSG Networks, MSG Sphere and Tao Group. He said the sale would be separate from a spin-off plan being explored by the MSGE board that would move the company’s traditional live entertainment business into a separate public entity. In a research note, Macquarie Securities entertainment industry analyst Paul Golding said he “tends to agree with The Post that if Tao is up for sale, this may be motivated by capital needs to complete the Sphere,” which is expected to open later this year on Koval Lane behind The Venetian. A spokesman for MSGE told the newspaper the company’s policy is to not comment on rumor or speculation. The New York Post reported the potential sale on Wednesday, estimating that MSGE’s 67 percent stake in the Tao Group could be worth $274 million. Tao, which has venues in London, Singapore and Dubai, operates 32 New York City restaurants.
Madison Square Garden Entertainment (MSGE) has reportedly hired Goldman Sachs to explore a sale of Tao Group, a worldwide company whose operations encompass 17 restaurants, nightclubs, day clubs and pool lounges in Las Vegas, including Tao Nightclub and Tao Asian Bistro at The Venetian, Hakkasan at MGM Grand, and Beauty & Essex at The Cosmopolitan of Las Vegas. Developers of the $2.17 billion MSG Sphere are considering a sale of their upscale Tao restaurant and nightclub chain to help fund the project’s rising construction costs, which have now surpassed the budget for Allegiant Stadium.
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