Steve Cohen Acquires 5.5% Stake in Las Vegas Sphere

The Mets owner aligns with Knicks and Rangers owner James Dolan through a significant investment in the $2.3 billion entertainment venue.

Cohen's Point72 Capital now holds over 1.5 million shares in Sphere Entertainment Co., valued at over $50 million.
This investment follows Cohen's previous stakes in Fox Corp. and Range Media Partners, emphasizing his interest in media and sports.
The Sphere, known for its advanced technology, has hosted major concerts and will feature its first sporting event, the NHL Draft, this week.
James Dolan, who controls Sphere Entertainment, also owns the New York Knicks and Rangers through Madison Square Garden Sports.
Cohen's investment strategy focuses on identifying undervalued opportunities and making large, concentrated bets.