MADISON SQUARE GRDN ENTERTNMNT - MSGE STOCK NEWS

Madison Square Garden Entertainment Corp. (MSGE) is set to announce its financial results for the fiscal third quarter ending March 31, 2021, on May 7, 2021. Concurrently, MSG Networks (MSGN) will also release its results for the same period. Both companies will file a registration statement and a joint investor presentation regarding MSG Networks' proposed acquisition by MSG Entertainment. A joint webcast will be held on May 10, 2021, to discuss the acquisition details, providing further insights into the transaction's implications for stakeholders.

Tao Group Hospitality has acquired Hakkasan Group, forming a robust hospitality enterprise with 61 venues across 22 markets worldwide. This merger enhances Tao Group's U.S. and global presence, particularly in key cities like Las Vegas and London. Co-CEOs Noah Tepperberg and Jason Strauss will lead the new entity, leveraging combined strengths to capitalize on pent-up demand in the hospitality sector post-pandemic. The partnership aims for growth through expanded brand portfolios and enhanced operational efficiencies.

MSG Entertainment has agreed to acquire MSG Networks in an all-stock transaction aimed at enhancing financial flexibility and creating a diversified entertainment powerhouse. MSG Networks' shareholders will receive 0.172 shares of MSG Entertainment per share owned, a 4% premium over pre-announcement prices. This merger, expected to close in Q3 2021, will allow MSG Entertainment to leverage MSG Networks’ revenue opportunities, especially in sports gaming. The combined entity anticipates significant tax efficiencies and aims to utilize MSG Entertainment's net operating losses to offset taxable income, fostering growth across entertainment and media sectors.

Madison Square Garden Entertainment Corp. (MSGE) reported significantly impacted financials for the fiscal second quarter ended December 31, 2020, due to COVID-19. Revenue plummeted by 94% to $23.1 million, while operating loss reached $112.5 million, compared to a profit of $69.6 million in the previous year. Despite these challenges, CEO James L. Dolan expressed optimism following New York's decision to allow limited indoor dining and venue reopenings, highlighting pent-up demand for live entertainment as a positive sign for future recovery.

Madison Square Garden Entertainment Corp. (NYSE:MSGE) will host a conference call to discuss its fiscal second quarter results, ending December 31, 2020, on February 12, 2021, at 10:00 a.m. ET. A press release summarizing the results will be issued before the market opens. Participants can join the call by dialing 888-421-7163 (conference ID: 2326248) or via webcast on the company’s investor website. For those unable to attend, a recording will be available from February 12 to February 19, 2021. MSG Entertainment is known for its diverse venues and live entertainment offerings.

Madison Square Garden Entertainment Corp. (NYSE: MSGE) has announced it will manage the construction of MSG Sphere at The Venetian, Las Vegas, taking over from AECOM, which will now provide support through a new services agreement. Jayne McGivern has been appointed as President of Development and Construction, overseeing a team responsible for completing the venue. Significant progress includes the completion of the venue's sixth-level concrete ring beam and the placement of heavy steel girders, with an expected opening in 2023.

NBC is set to air the "Christmas Spectacular Starring the Radio City Rockettes – At Home Holiday Special" on Dec. 2 from 10-11 p.m. ET/PT, following the telecast of NBC’s "Christmas in Rockefeller Center." This special, previously recorded at Radio City Music Hall, features performances by the Rockettes and appearances by stars including Jenna Dewan and Whoopi Goldberg. The event marks the first absence of a live performance for the Rockettes since their debut in 1932, emphasizing the ongoing impact of COVID-19 on traditional holiday celebrations.

Madison Square Garden Entertainment Corp. (MSGE) reported fiscal Q1 2021 results, revealing a sharp revenue decline of 92%, totaling $14.4 million, primarily due to COVID-19 venue closures. The company recorded an operating loss of $126.6 million and an adjusted operating loss of $67.7 million, both significantly worse than the previous year. However, MSGE bolstered its liquidity by completing a $650 million debt financing and eliminating near-term obligations with MSG Sports. CEO James Dolan expressed confidence in navigating these challenges and highlighted plans for MSG Sphere.

Madison Square Garden Entertainment Corp. (NYSE: MSGE) will hold a conference call on November 16, 2020, at 4:30 p.m. ET to discuss its fiscal Q1 results for the period ending September 30, 2020. A press release with the financial results will be issued after market close. Participants can join by dialing 888-421-7163 and using conference ID 8046795. A replay of the call will be available until November 22, 2020. MSG Entertainment is known for live events at venues like Madison Square Garden and Radio City Music Hall, and is developing the new MSG Sphere in Las Vegas.