MADISON SQUARE GRDN ENTERTNMNT - MSGE STOCK NEWS

Madison Square Garden Entertainment Corp. (MSGE) reported a 36% increase in fiscal Q1 2023 revenues, totaling $401.2 million, boosted by strong event activity and hospitality performance. The company incurred an operating loss of $44.8 million but showed a 46% improvement year-over-year. MSGE plans a spin-off of its live entertainment and MSG Networks businesses, aiming to enhance shareholder value. Notably, MSG Networks saw a 13% revenue decline, countered by 11% growth in Tao Group Hospitality. MSG Sphere in Las Vegas remains on track for a late 2023 opening, with revised construction costs of $2.175 billion.

Madison Square Garden Entertainment Corp. (NYSE: MSGE) will host a conference call on November 9, 2022 at 10:00 a.m. ET to discuss its fiscal Q1 results for the period ending September 30, 2022. The results will be announced prior to market opening. Participants can join via telephone by calling 888-660-6386 and entering conference ID 8020251. A replay will be available from 1:00 p.m. ET on the same day until November 16, 2022.

Madison Square Garden Entertainment is known for its live entertainment across multiple venues, including Madison Square Garden, Radio City Music Hall, and more.

Madison Square Garden Sports Corp. (NYSE: MSGS) and Madison Square Garden Entertainment Corp. (NYSE: MSGE) have announced a marketing partnership with Monster Energy. As the Official Energy Drink Partner of the New York Rangers, Monster Energy will have branding exposure at Madison Square Garden. A co-branded concession stand, the 'Monster Energy Bodega', will open inside the venue, supporting local bodegas recovering from the COVID-19 pandemic. Monster Energy will also engage fans with unique experiences at The Garden.

Madison Square Garden Entertainment Corp. (NYSE: MSGE) has confidentially submitted an initial Form 10 Registration Statement to the SEC for the proposed spin-off of its live entertainment and MSG Networks businesses. This tax-free spin-off will grant shareholders approximately two-thirds economic interest in the new live entertainment enterprise, which will retain the MSGE name. The remaining one-third will be kept by the parent company, which will become MSG Sphere Corp. The transaction is subject to various conditions, including SEC approval.

Madison Square Garden Sports Corp. (NYSE: MSGS) and HUB International Limited have entered a significant marketing partnership. HUB becomes an official partner of the New York Knicks and New York Rangers, alongside other events at Madison Square Garden. This partnership includes exclusive branding opportunities like the new 'HUB Loft' hospitality suite and extensive brand exposure through digital and in-arena signage. HUB's CMO, Ellina Shinnick, emphasized their growth aspirations through this collaboration.

Madison Square Garden Entertainment Corp. (MSGE) announced its financial results for the fourth quarter and fiscal year ending June 30, 2022. Revenues soared to $1.7 billion, up from $814.2 million last year. The fourth quarter saw revenues of $453.5 million, a 74% increase year-over-year. However, the company reported an operating loss of $102.7 million for the year and $56.8 million for the fourth quarter. MSGE is exploring a potential separation of its live entertainment and MSG Networks businesses from MSG Sphere and Tao Group Hospitality to enhance shareholder value.

Madison Square Garden Entertainment (NYSE: MSGE) announced its board's approval to explore a potential spin-off of its live entertainment and MSG Networks businesses, separating them from MSG Sphere and Tao Group Hospitality. This restructuring aims to enhance shareholder value by providing clearer investment options. If realized, shareholders would receive a tax-free distribution, amounting to about two-thirds economic interest in the new live entertainment entity. The split would allow both companies to focus on unique growth strategies, though completion of the transaction is not guaranteed and depends on various conditions.

Madison Square Garden Entertainment Corp. (NYSE:MSGE) will host a conference call on August 19, 2022, at 10:00 a.m. ET to discuss its fourth quarter and fiscal year results ending June 30, 2022. A press release detailing these results will be issued prior to market opening.

Participants can join via telephone at 888-660-6386 using conference ID 8020251 or through a webcast available on the company's investor relations site.

Madison Square Garden Entertainment Corp. (NYSE: MSGE) has partnered with chargeFUZE, launching ten autonomous phone charging stations at Madison Square Garden. Available starting tonight, these stations will allow guests to rent portable chargers easily via a QR code. This initiative aims to enhance the guest experience during events. chargeFUZE will also gain visibility through in-arena branding and messaging. The partnership aligns with MSGE's focus on innovative guest services across its venues, reflecting its commitment to enhancing visitor experiences.