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Madison Square Garden Entertainment Corp. (MSG Entertainment) (NYSE: MSGE) is a premier leader in live entertainment, delivering memorable experiences and cultivating profound connections with a broad spectrum of enthusiastic audiences. The company's distinguished portfolio comprises iconic venues such as New York's Madison Square Garden, The Theater at Madison Square Garden, Radio City Music Hall, Beacon Theatre, and The Chicago Theatre. These venues host a diverse range of events, including sports, concerts, family shows, and special events, attracting millions of guests annually.
One of MSG Entertainment's hallmark productions is the Christmas Spectacular Starring the Radio City Rockettes, a cherished holiday tradition for 90 years, captivating over one million attendees with its stunning performances and intricate choreography. MSG Entertainment continuously evolves, recently announcing a new partnership with Beyond Meat to introduce plant-based meat products at Madison Square Garden, enhancing the fan experience with sustainable and nutritious food options.
Financially, MSG Entertainment has been proactive, showcased by its recent underwritten secondary offering and strategic share repurchase, aimed at optimizing capital allocation and enhancing shareholder value. The company reported a robust fiscal 2024 second quarter, marked by a record-setting Christmas Spectacular season and a significant increase in bookings, underpinning its strong market position and growth trajectory.
Looking ahead, MSG Entertainment remains committed to expanding its live entertainment offerings, leveraging its iconic venues and innovative partnerships to deliver unparalleled experiences. The company's focus on strategic initiatives and operational excellence positions it well for sustained growth and long-term shareholder value.
Madison Square Garden Entertainment (MSGE) reported fiscal Q2 2025 results with revenues of $407.4 million, up 1% year-over-year. Operating income reached $139.0 million, increasing 1%, while adjusted operating income grew 2% to $164.0 million.
The quarter was highlighted by the Christmas Spectacular's record-setting 91st season, selling approximately 1.1 million tickets across 200 shows, compared to over 1 million tickets across 193 shows last season. Entertainment offerings revenue remained stable at $318.3 million, with decreased concert revenues offset by increased Christmas Spectacular and suite license fee revenues.
The company repurchased approximately $25 million of MSGE Class A shares during the quarter at an average price of $36.68 per share. MSGE also fully paid down its $55 million revolving credit facility balance.
Madison Square Garden Entertainment (NYSE: MSGE) has announced it will host a conference call to discuss its fiscal 2025 second quarter results on Thursday, February 6, 2025, at 10:00 a.m. Eastern Time. The financial results, covering the period ended December 31, 2024, will be released before the market opens.
Participants can join via telephone by dialing 888-660-6386 with conference ID 8020251, or watch the webcast at investor.msgentertainment.com under 'Events.' A replay will be available by phone at 800-770-2030 until February 13, 2025, and the webcast recording will remain accessible on the website through the same date.
Madison Square Garden Sports Corp. (NYSE: MSGS) and Madison Square Garden Entertainment Corp. (NYSE: MSGE) have announced a partnership with Waterloo Sparkling Water, making it an official partner of the New York Rangers and Madison Square Garden.
The partnership includes the availability of Waterloo products at concession stands throughout MSG, featuring a dedicated concession stand on the sixth floor Infosys Level concourse. The brand will receive premier integration during Rangers games through digitally enhanced dasherboards and in-arena LED signage. Additionally, Waterloo will be integrated across Rangers digital platforms and featured in team emails to fans throughout the year.
This marks Waterloo's largest multi-year venue sponsorship to date, aiming to enhance the fan experience at The Garden through expanded beverage options.
Madison Square Garden Entertainment (NYSE: MSGE) has repurchased 681,593 shares of Class A common stock at an average price of $36.68 per share, totaling approximately $25 million from November 20 through December 2, 2024. The repurchase was funded with cash on hand. Since its spinoff from Sphere Entertainment in April 2023, MSGE has repurchased over 5 million shares for approximately $165 million. The company has $85 million remaining under its current share repurchase authorization.
Madison Square Garden Entertainment (NYSE: MSGE) reported fiscal Q1 2025 results with revenues of $138.7 million, down 2% year-over-year. The company posted an operating loss of $18.5 million, improving 45% from the prior year, and adjusted operating income of $1.9 million. The Garden hosted a record number of Q1 concerts, while entertainment offerings revenue decreased 1% to $115.1 million. Food, beverage, and merchandise revenues declined 18% to $19.0 million. The company announced new multi-year sponsorship deals with Lenovo, Motorola Mobility, and the Department of Culture and Tourism – Abu Dhabi, plus extended its Verizon partnership.
Madison Square Garden Entertainment (NYSE: MSGE) has announced it will host a conference call on November 8, 2024, at 8:30 a.m. Eastern Time to discuss its fiscal 2025 first quarter results for the period ended September 30, 2024. The company will release its financial results before the market opens. The call will be accessible via telephone (888-660-6386, conference ID: 8020251) and webcast through the investor relations website. A replay will be available until November 15, 2024, via phone (800-770-2030) and website.
Madison Square Garden Sports Corp. (NYSE: MSGS) and the Department of Culture and Tourism – Abu Dhabi (DCT Abu Dhabi) have announced a multi-year marketing partnership. 'Experience Abu Dhabi' will become the Official Patch Partner of the New York Knicks, featuring their logo on all Knicks game jerseys, warm-up jackets, and shooting shirts starting from the 2024-2025 season.
The partnership extends to Madison Square Garden Entertainment Corp. (NYSE: MSGE) and Sphere Entertainment Co. (NYSE: SPHR), collectively known as the MSG Family of Companies. DCT Abu Dhabi will have global rights to use Madison Square Garden marks and will be featured as an Official Partner of Madison Square Garden in New York and Sphere in Las Vegas.
This collaboration aims to boost Abu Dhabi's global visibility as part of its Tourism Strategy 2030 and solidify its position as a premier sports destination and the home of basketball in the Middle East.
Madison Square Garden Entertainment Corp. (NYSE: MSGE) reported strong financial results for fiscal 2024, exceeding guidance. Revenues increased 13% to $959.3 million, while operating income rose 7% to $111.9 million. The company hosted 6.3 million guests at over 960 events, including a record-setting Christmas Spectacular. For Q4, revenues grew 26% to $186.1 million, with operating loss improving by $12.9 million to $8.9 million. Key drivers included increased event-related revenues, higher arena license fees, and growth in food, beverage, and merchandise sales. The company's unique portfolio of live entertainment offerings positions it for robust adjusted operating income growth in fiscal 2025.
Madison Square Garden Entertainment Corp. (NYSE: MSGE) has announced its upcoming fiscal 2024 fourth quarter and year-end conference call, scheduled for Friday, August 16, 2024, at 8:30 a.m. Eastern Time. The company will release its financial results before the market opens on the same day. Interested parties can participate via telephone by dialing 888-660-6386 with the conference ID 8020251, or through a webcast available on the company's investor relations website.
For those unable to join the live call, a recording will be accessible by dialing 800-770-2030 (conference ID 8020251) from 12:00 p.m. Eastern Time on August 16 until 11:59 p.m. Eastern Time on August 23, 2024. The webcast replay will also be available on the website until August 23, 2024.
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