Welcome to our dedicated page for Madison Square Grdn Sprt news (Ticker: MSGS), a resource for investors and traders seeking the latest updates and insights on Madison Square Grdn Sprt stock.
Madison Square Garden Sports Corp. (NYSE: MSGS) is a preeminent professional sports company based in New York, New York, with a rich heritage dating back to its founding in 1879. The company's esteemed portfolio includes marquee sports teams such as the New York Knicks of the NBA, the New York Rangers of the NHL, as well as developmental league teams like the Westchester Knicks in the NBA G League and the Hartford Wolf Pack in the AHL. Additionally, MSG Sports is involved in the burgeoning esports sector, owning the Knicks Gaming franchise.
The company operates top-tier training facilities, including the Madison Square Garden Training Center in Greenburgh, New York, and the CLG Performance Center in Los Angeles, California. These state-of-the-art centers are pivotal in enhancing the performance of its athletes and teams.
MSG Sports is also heavily invested in live entertainment through its segment MSG Entertainment, which manages and produces a diverse array of events including concerts, family shows, and special events at iconic venues like Madison Square Garden.
Financially, the company reported revenues of $887.4 million for fiscal 2023, reflecting an 8% increase year-over-year, showcasing strong consumer and corporate demand. Despite a challenging final quarter due to fewer home games, MSG Sports remains robust with continued growth in key revenue categories such as tickets, media rights, suites, sponsorships, and merchandise.
In terms of recent developments, MSG Sports has entered into a notable partnership with Beyond Meat, Inc., introducing plant-based products at the Madison Square Garden, thus emphasizing its commitment to sustainability and diversified food offerings for fans.
Looking ahead, with the 2023-24 seasons underway for both the Knicks and Rangers, MSG Sports anticipates continued positive momentum. The company has seen impressive season ticket renewal rates and robust new sales activity. MSG Sports is poised to leverage these strong fundamentals to create long-term shareholder value.
Madison Square Garden Sports Corp. (NYSE: MSGS) has announced a new multi-year partnership with Nutrabolt, making C4 Energy the Official Energy Drink of the New York Knicks. The partnership includes prominent digital signage throughout Madison Square Garden, featuring courtside LED displays during non-nationally televised regular season home games and virtual advertisement placement during games televised on MSG Networks.
The partnership will extend to the Knicks website and the Seventh Avenue LED marquee sign outside The Garden. C4 Energy, recognized as one of the fastest-growing energy drink brands in the country, will leverage this partnership to connect with the Knicks' fanbase while highlighting their NSF Certified for Sport products.
Madison Square Garden Sports Corp. (NYSE: MSGS) reported its fiscal 2025 second quarter results, showing mixed performance. Revenues increased by 9% to $357.8 million compared to the prior year, driven by higher ticket-related revenues, suite revenues, and sponsorship. The growth was partially attributed to the Knicks and Rangers playing three more home games at Madison Square Garden Arena.
However, operating income decreased by 54% to $13.3 million, and adjusted operating income fell by 45% to $20.2 million. The decline was primarily due to increased direct operating expenses, including higher team personnel compensation ($15.2 million) and higher net provisions for league revenue sharing and NBA luxury tax ($14.9 million).
Key revenue improvements included pre/regular season ticket-related revenues (+$14.3 million), suite revenues (+$7.0 million), and sponsorship and signage revenues (+$3.1 million). Direct operating expenses increased by 19% to $275.8 million.
Madison Square Garden Sports Corp. (NYSE: MSGS) has announced it will host a conference call to discuss its fiscal 2025 second quarter results on Tuesday, February 4, 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 6996895, or watch the webcast at investor.msgsports.com under 'Events.' A replay will be available by phone at 800-770-2030 (same conference ID) from 1:00 p.m. ET on February 4 until 11:59 p.m. ET on February 11, 2025. The webcast replay will also be accessible until February 11, 2025.
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 Sports Corp. (NYSE: MSGS) reported financial results for Q1 FY2025. Revenue increased 24% to $53.3 million, primarily driven by a $9.7 million increase in league distributions. Operating loss improved 44% to $8.3 million, while adjusted operating loss improved 77% to $2.3 million. The company achieved a 97% season ticket renewal rate for Knicks and Rangers. Notable developments include new marketing partnerships with Abu Dhabi Tourism (Knicks patch sponsor), Lenovo/Motorola, and renewals with Verizon and Benjamin Moore. The suites business showed strong performance with successful renewals and expanded event-level club space.
Madison Square Garden Sports Corp. (NYSE: MSGS) announced it will release its fiscal 2025 first quarter financial results on Friday, November 1, 2024, before market opening. The results will cover the period ended September 30, 2024. The company noted it typically holds earnings conference calls only twice per year - during fiscal second and fourth quarters - to provide a mid-season update and full-season review, respectively. Therefore, no earnings call will be conducted for this quarter's results.
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 Sports Corp. (NYSE: MSGS) has renewed and expanded its partnership with Benjamin Moore, a Berkshire Hathaway company. The partnership includes:
1. Benjamin Moore remaining as the Rangers in-game helmet sponsor for all games except NHL-controlled ones.
2. Introduction of 'The Benjamin Moore Boardroom,' a private hospitality space at The Garden.
3. Continuation of community initiatives to renovate local hockey rinks.
4. Benjamin Moore receiving branding on digitally enhanced dasherboards during nationally televised Rangers home games.
5. Brand activations at the Rangers' annual 'Casino Night' benefiting the Garden of Dreams Foundation.
6. Presence on MSG Networks throughout the season and access to unique hospitality experiences.
Madison Square Garden Sports Corp. (NYSE: MSGS) reported record financial results for fiscal 2024, with revenues exceeding $1 billion, up 16% year-over-year. The company's operating income increased 71% to $146.0 million, while adjusted operating income rose 50% to $172.2 million. The strong performance was driven by robust demand for the New York Knicks and New York Rangers, both of which had successful regular seasons and playoff runs.
For the fiscal 2024 fourth quarter, MSGS reported revenues of $227.3 million, a 79% increase from the prior year quarter. Operating income for the quarter was $52.3 million, compared to a loss in the previous year. The impressive results were attributed to higher playoff-related revenues, increased regular season ticket sales, and growth in suite revenues and sponsorships.
Madison Square Garden Sports Corp. (NYSE: MSGS) has announced its upcoming fiscal 2024 fourth quarter and year-end conference call, scheduled for Tuesday, August 13, 2024, at 10:00 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 6996895, or through a webcast available at investor.msgsports.com under the 'Events' section.
For those unable to join the live call, a recording will be accessible by dialing 800-770-2030 (conference ID 6996895) from 1:00 p.m. Eastern Time on August 13 until 11:59 p.m. Eastern Time on August 20, 2024. Additionally, a webcast replay will be available on the company's website until August 20, 2024.
FAQ
What is the current stock price of Madison Square Grdn Sprt (MSGS)?
What is the market cap of Madison Square Grdn Sprt (MSGS)?
What teams are part of Madison Square Garden Sports Corp.?
What are some recent achievements of MSG Sports?
Where are MSG Sports' training facilities located?
What is the new partnership between MSG Sports and Beyond Meat?
How did MSG Sports perform financially in fiscal 2023?
What is the significance of MSG Sports' esports ventures?
What role does MSG Entertainment play in the company's operations?
What is the outlook for MSG Sports in the 2023-24 season?
Who is the executive chairman of Madison Square Garden Sports Corp.?
Where can more information about MSG Sports be found?
