Madison Square Garden Entertainment Corp. - MSGE STOCK NEWS

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.

MSG Entertainment partners with Earth Brands to promote sustainability at Madison Square Garden by replacing single-use plastics with eco-conscious products like Earth Cups and Earth Lids.

Madison Square Garden Entertainment Corp. and the Garden of Dreams Foundation announce the return of Garden of Laughs, a comedy benefit event featuring top comedians like Bill Burr and Jon Stewart. The event will take place on March 27, 2024, at The Theater at Madison Square Garden, with ticket sales starting on February 16, 2024, at 10:00 AM. All proceeds will benefit the Garden of Dreams Foundation.

Madison Square Garden Entertainment Corp. (NYSE: MSGE) reported a 10% increase in FY24 revenue to $930-950 million and a 13% increase in revenues for the fiscal 2024 second quarter. The Christmas Spectacular production saw record-setting revenues, with over one million tickets sold. The company is on track for a low double-digit percentage increase in events in FY2024.

MSG Entertainment announced the appointment of Michael Grau as Executive Vice President, Finance, and future Chief Financial Officer. Grau brings nearly 40 years of experience to the role, previously serving as CFO at Altice USA and in various leadership roles at Cablevision Systems Corporation. He will provide strategic financial insight and oversee the Company's financial matters, reporting to MSG Entertainment's Executive Chairman and CEO. Grau's appointment is expected to support the long-term direction of the company and drive business priorities.