MGM National Harbor appoints new president and chief operating officer. November 10, 2026 Key Points * MGM Veteran Chris Gumiela, who joined MGM in 2006 as a management trainee, has been named president and COO of MGM National Harbor * Gumiela takes charge of MGM's second-most profitable non-Las Vegas property, which generated over $823.2 million in revenue in 2025 * His appointment coincides with the upcoming 6,000-seat, $1.4-billion Sphere National Harbor project built adjacent to the property to boost entertainment and hotel demand MGM National Harbor has announced that it is bringing Chris Gumiela on as its new president and chief operating officer of one of the group's most profitable properties. Gumiela is no chance hire, as he has spent his entire professional life working his way up in the company. Trusted MGM Veteran to lead MGM National Harbor. Gumiela started his corporate ladder scaling in 2006 when he joined the company's Management Associate Program as a fresh college graduate. He will now lead the property, which clocked in more than $823.2 million in revenue in 2025 alone, and is the second most profitable casino property off the Las Vegas Strip. Gumiela has more than 20 years of experience serving in various positions for the company, including across its land-based and online operations, hailing MGM National Harbor as an entertainment capital for the region encompassing the District of Columbia, Maryland and Virginia. His appointment comes at a transformative time, with the property hosting a $1.4-billion Las Vegas Sphere-inspired lookalike, part of a deal with Sphere Entertainment. Gumiela's appointment coincides with incoming Sphere project. The Sphere National Harbor will be built on 14 acres located north of MGM National Harbor and will feature a 6,000-seat immersive entertainment venue, which connects to the casino offering thousands of games to players. The Sphere National Harbor is also expected to boost demand for the property's 308 hotel rooms. Gumiela will seek to help the company boost its entertainment revenue and continue to draw crowds for various events, with the new entertainment project seeking to strongly contribute to this end. While building a Sphere is an ambitious undertaking, monetizing it is a significant challenge, with the Las Vegas project operating at a significant loss at first. However, Sphere Entertainment may have turned a corner, with the company reporting $151.8 million in net income ending on June 30, 2026.

What Sphere Entertainment (SPHR) said on its Q3 earnings call. November 8, 2026 Key points. * Sphere's results improved while MSG Networks weakened: Sphere revenue rose 14% to $198.9 million and adjusted operating income increased to $32.4 million, while MSG Networks revenue fell to $75.4 million amid a 15.5% subscriber decline. * New Sphere content is in development: The Wizard of Oz has sold more than 4.3 million tickets, generating about $540 million in ticket sales. The Rocky Horror Picture Show is expected to debut by the end of March, while the company is reworking its plans for From the Edge. * Expansion plans are advancing: Sphere expects to announce another U.S. project this quarter, and the Abu Dhabi venue remains on track for completion by the end of 2029. Management also sees potential for Las Vegas business growth in 2027 and beyond. * Five stocks to consider instead of Sphere Entertainment. Sphere Entertainment NYSE: SPHR reported higher revenue and adjusted operating income in its Sphere segment for the September quarter, as additional showings of The Wizard of Oz helped offset a decline at MSG Networks. The company also said it expects to announce another U.S. Sphere project, likely in the current quarter. Total company revenue was $274.3 million, and adjusted operating income was $39.2 million. Sphere segment revenue rose 14% from a year earlier to $198.9 million, while its adjusted operating income increased to $32.4 million from $17.1 million, Chief Financial Officer Robert Langer said. The Sphere Experience hosted 241 performances of The Wizard of Oz during the quarter, compared with a combined 220 performances of three productions in the year-earlier period. Langer said growth also came from Exosphere advertising, sponsorships, suite license fees and concert residencies. New content and a changed plan. Executive Chairman and CEO Jim Dolan said production of The Rocky Horror Picture Show is well underway and is expected to debut by the end of March. He said it would be the fastest a Sphere Experience has gone from concept to market, reflecting production technology advances and lessons from The Wizard of Oz. Dolan said the company expects to continue showing The Wizard of Oz alongside Rocky Horror, potentially scheduling the more adult-oriented production later in the day. He also reaffirmed the expectation that three to four Sphere Experiences would be playing by the end of 2027. Since its debut last year, The Wizard of Oz has sold more than 4.3 million tickets, generating approximately $540 million in ticket sales, Dolan said. An enhanced version has been showing since late September. The company has changed course on another production, From the Edge. Dolan said its original concept was not strong enough or executed well enough to warrant occupying slots at the venue. Sphere has completed a substantial portion of production and is exploring ways to repurpose the footage into an immersive experience, he said. Discover more MarketBeat All Access MarketBeat Portfolio Tracker MarketBeat Research Tools Dolan added that Sphere remains in discussions with Hollywood studios about using existing intellectual property. He said the company evaluates content based on the experience it can create, rather than relying primarily on the popularity of the underlying property. Expansion plans advance. Construction of the Abu Dhabi Sphere remains on track for completion by the end of 2029, Dolan said. Underground infrastructure is being installed, and the general contractor has begun awarding key contracts. At National Harbor, a local county government passed a public incentive package last week, although another county vote is expected no later than February. Dolan said the company is working through other open items before returning to financing for the balance of the project. Asked about the timing of an expansion announcement, Dolan said it was likely to come this quarter rather than next quarter. He said in prepared remarks that the next Sphere project is anticipated to be in the U.S. Executive Vice President Digger Granville-Smith said interest rates had not slowed or paused the company's expansion discussions. Dolan said the company considers factors including market size, the governmental environment, construction time and cost when assessing potential locations. MSG Networks weighs on results. MSG Networks revenue fell to $75.4 million from $88.4 million a year earlier, while adjusted operating income declined to $6.8 million from $19.3 million. Langer attributed the year-over-year results primarily to an approximately 15.5% decrease in subscribers. The company also recorded a non-cash goodwill impairment charge after reassessing the fair market value of MSG Networks during its annual impairment test, Langer said. He cited ongoing challenges facing the business but did not state the amount of the charge on the call. As of September 30, the Sphere business had approximately $501 million in unrestricted cash and cash equivalents, $259 million in convertible debt and a $275 million term loan related to the Las Vegas venue. MSG Networks had approximately $80 million in net debt, including $106 million outstanding on a term loan that is recourse only to MSG Networks, Langer said. Outlook for Las Vegas. Dolan said Sphere's performance is sensitive to the Las Vegas market, which he described as having had a weaker-than-expected summer. He said the company's models point to a strong fourth and first quarter, while noting that it continues to refine its forecasts and scheduling. Asked whether the Las Vegas Sphere business could grow in calendar 2027, Dolan said he expects growth as the company works to improve utilization and ticket sales. Chief Operating Officer Jen Koester also cited a strong sponsorship pipeline and substantial growth opportunity for that business in 2027 and beyond. About Sphere Entertainment (NYSE:SPHR). Sphere Entertainment Co is a live entertainment and media company whose businesses include Sphere and MSG Networks. Sphere is a large-scale venue in Las Vegas designed for concerts, films and other events, featuring immersive visuals and sound. The company also operates Sphere Studios, which develops content and technology for the venue and other applications. MSG Networks operates regional sports and entertainment networks serving viewers in the New York metropolitan area. Its programming includes live coverage of professional sports, as well as news and other original content, with related streaming services also available to consumers. Sphere Entertainment was formed in 2023 through the separation of businesses from Madison Square Garden Entertainment Corp. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. Before you consider Sphere Entertainment, you'll want to hear this. MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Sphere Entertainment wasn't on the list. 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