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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.
Caesars Entertainment and Tao Group Hospitality are set to launch a new dining concept, Stanton Social Prime, at Caesars Palace Las Vegas, spearheaded by Chef Chris Santos. Positioned next to OMNIA Nightclub, the restaurant is slated to open this winter, featuring popular dishes from the original Stanton Social in New York. This partnership aims to enhance the culinary offerings at Caesars Palace, known for its renowned restaurants. The venue will contribute to a diverse dining experience within the resort.
evian Sparkling™ has launched in the U.S. with an exclusive Sparkling Water Residency at TAO Beach Dayclub, Las Vegas, from July 12 to August 12, 2022. This residency features a replica of the French Alps, Swarovski crystal bottles, and a unique dining experience. The brand's first non-flavored sparkling water is crafted through a 15-year filtration process through glacial rocks. evian aims to promote healthy hydration and elevate summer experiences while partnering with Tao Group Hospitality to enhance its brand presence in the hospitality sector.
Madison Square Garden Entertainment Corp. (NYSE: MSGE) reported strong fiscal Q3 2022 results, with revenues of $460.1 million, a 115% increase year-over-year. The Company saw significant momentum in its live entertainment sector, despite challenges posed by the Omicron variant. Operating income was $2.0 million, recovering from a $38.7 million loss in FY2021 Q3. Key segments showed varied performance: Entertainment revenues surged to $194.6 million, MSG Networks saw a 6% decline, while Tao Group Hospitality rebounded to $108.6 million in revenues. The Company is optimistic about future growth with MSG Sphere opening in Las Vegas.
Madison Square Garden Entertainment Corp. (NYSE: MSGE) plans to host a conference call on May 9, 2022, at 10:00 a.m. ET, to discuss its fiscal third-quarter results for the period ending March 31, 2022. A press release detailing the results will be issued prior to market opening. Investors can participate by calling 833-420-0364 using conference ID 4864015 or join via webcast at investor.msgentertainment.com. A replay will be accessible from 1:00 p.m. ET on the same day until 11:59 p.m. ET on May 16, 2022.
Katie Taylor and Amanda Serrano are set to make history as the first female fighters to headline a boxing event at Madison Square Garden on April 30. This epic match for Taylor’s undisputed Lightweight title highlights a significant milestone in women’s sports. With Taylor holding a perfect record of 20-0 and Serrano a renowned seven-weight champion, this fight will be a landmark event not only in boxing but for female athletes globally. Tickets are available via Ticketmaster.
Madison Square Garden Entertainment Corp. (MSGE) has appointed Lucas Watson as President of MSG Sphere, effective March 28. Watson, with over 25 years of experience, will oversee the strategy and execution of the company's new venues, which aim to deliver immersive experiences through technology and storytelling. The first venue, MSG Sphere at The Venetian in Las Vegas, is set to open in the second half of 2023. Watson previously held senior leadership roles at Cruise, Intuit, and Google, and holds an MBA from Boston College.
Madison Square Garden Entertainment Corp. (MSGE) reported robust fiscal second-quarter results for 2022, with revenues reaching $516.4 million, up $347.7 million year-over-year. The operating income improved to $35.4 million, compared to a loss of $46.8 million in the prior year. Notably, the Entertainment segment generated $247.6 million in revenues, driven by increased live events, while Tao Group Hospitality saw revenues of $117.1 million. However, the emergence of the Omicron variant affected operations, leading to the early conclusion of the Christmas Spectacular and event cancellations.
Madison Square Garden Entertainment Corp. (NYSE: MSGE) is set to host a conference call on February 9, 2022, at 10:00 a.m. Eastern Time to discuss its fiscal Q2 results ended December 31, 2021. A press release with the results will be issued prior to market opening. Participants can join by dialing 833-420-0364 or via webcast on the company's investor relations website. A recording will be available after the call until February 16, 2022.
Insomniac has acquired the former OMNIA San Diego venue, set to reopen as NOVA SD in February 2022, marking its first partnership with Tao Group Hospitality. This 22,000-square-foot nightclub aims to transform Downtown San Diego's nightlife, featuring an expanded dance floor and top-tier production. The grand opening, scheduled for February 25, will showcase performances by RL Grime and deadmau5. Insomniac plans to enhance its presence in San Diego after hosting a successful music festival in November 2021, drawing over 20,000 attendees.
Boston Calling is set to return on Memorial Day Weekend, May 27-29, 2022, featuring an exciting lineup of over 50 artists including Metallica, The Strokes, and Foo Fighters. Notably emphasizing local talent, the festival will showcase New England artists as well. Tickets are on sale, with prices ranging from
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