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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) will host a conference call to discuss its fiscal second quarter results for the period ending December 31, 2022, on February 7, 2023, at 10:00 a.m. ET. Prior to the market opening on the same day, the company will release its financial results. Interested participants can join the call by dialing 888-660-6386, using conference ID 6996895, or via webcast on the company's investor relations site. A replay of the call will be available after the event until February 14, 2023. MSGS operates notable professional sports franchises, including the New York Knicks and New York Rangers.
Madison Square Garden Sports Corp. (NYSE: MSGS) has entered a multi-year partnership with MSC Cruises, designating it as the Official Cruise Line Partner of the New York Knicks. This partnership includes brand promotion during Knicks games through LED signage and virtual promotions, as well as special in-game events like the T-Shirt Toss. Additionally, both organizations will collaborate on a sustainability initiative, contributing to ocean conservation linked to three-pointers made in the season. The partnership aims to enhance brand presence in international markets such as Italy, Germany, and Brazil while providing unique fan experiences.
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 Sports Corp. (NYSE: MSGS) reported strong fiscal first-quarter results for the period ending September 30, 2022. Revenues surged by 28%, reaching $24.1 million, driven by increased suite license fees, preseason ticket revenues, and league distributions. The company announced a special dividend of $7.00 per share and a $75 million accelerated share repurchase program, returning about $250 million to shareholders. Operating loss slightly increased to $35.9 million amidst higher administrative costs, while adjusted operating loss improved to $27.3 million, reflecting solid revenue growth.
Brand Velocity Group (BVG) has launched a sports-focused vertical named Brand Velocity Group Sports (BVGS), led by sports pioneer Joseph Cohen as chairman. BVGS aims to invest in sports-adjacent companies and potentially professional sports teams, enhancing growth and financial flexibility for stakeholders. The BVGS team features experienced partners including Drew Sheinman and Eli Manning, along with a diverse advisory group with significant industry influence. BVGS will leverage BVG’s operational expertise and the Share the Gains initiative, which allocates 10% of carried interest earnings to employees, fostering a culture of shared success.
Madison Square Garden Sports Corp. (NYSE: MSGS) will release its fiscal first-quarter results for the period ending September 30, 2022, on October 27, 2022, before market opening. The company is returning to a bi-annual earnings call schedule, foregoing an earnings conference call this quarter. MSGS owns prominent sports assets including the New York Knicks and New York Rangers, and operates professional sports training facilities. The new earnings schedule allows for better mid-season and full-season financial updates.
Madison Square Garden Sports Corp. (NYSE: MSGS) has announced a multi-year marketing partnership with Piece of Cake Moving & Storage, making it the first Official Moving and Storage Partner of the New York Knicks. The partnership includes brand promotion during Knicks games, featuring LED signage and on-court contests. Piece of Cake, recognized as New York’s fastest-growing moving company, aims to enhance its brand visibility through various promotional activities at Madison Square Garden.
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 Sports Corp. (NYSE: MSGS) has announced a multi-year marketing partnership with Manhattan West, a new destination in New York City known for food, culture, and retail. This collaboration names Manhattan West as the Official Partner of the New York Knicks, enhancing brand exposure during Knicks games through various promotional activities. Located just a block from Madison Square Garden, the partnership aims to connect the vibrant neighborhood with Knicks’ fans, leveraging digital platforms and in-game promotions to attract visitors.
Madison Square Garden Sports Corp. (NYSE: MSGS) announced a special one-time cash dividend of approximately
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