Madison Square Garden Co. President Andrew Lustgarten disclosed cost projections Tuesday along with quarterly company earnings.
The 18,000-seat arena, called MSG Sphere, is a partnership between MSG and Las Vegas Sands, the owner of the adjacent Venetian and Palazzo resorts.
The Las Vegas Review-Journal reports the company and general contractor AECOM are negotiating a final cost.
It could be more than four times the $375 million it took to build T-Mobile Arena, which opened in 2016 about 4 miles (6.4 kilometers) down the Strip.
MSG Sphere is scheduled to open in 2021 with a huge interior wrap-around LED screen and immersive audience experience technology.
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