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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) has entered a multi-year marketing partnership with Benjamin Moore, making it the Official Paint Partner of the New York Rangers. As part of this deal, Benjamin Moore will be the in-game helmet sponsor and will feature in-ice logos during all Rangers games at Madison Square Garden. The partnership will kick off with a mural unveiling on October 6. This collaboration aims to enhance community engagement and brand exposure for Benjamin Moore.
Madison Square Garden Sports Corp. (MSGS) reported its financial results for the fourth quarter and fiscal year ended June 30, 2021, highlighting a revenue of $415.7 million, down 31% from the previous year. The fourth quarter revenue reached $146.9 million, a significant recovery from negative revenues of $7.0 million a year prior. The operating loss improved to $20.8 million from $44.9 million. The company maintains a liquidity of $309.9 million with total debt at $385 million. Future growth is expected as fan engagement rebounds with capacity crowds and a full season.
Madison Square Garden Sports Corp. (NYSE: MSGS) will hold a conference call on August 19, 2021, at 10:00 a.m. ET to discuss its fourth quarter and fiscal year results, ending June 30, 2021. A press release will precede the call, detailing the financial performance. Investors can join the call by dialing 877-347-9170 using conference ID 1098034 or access it via webcast at investor.msgsports.com. A replay will be available until August 26, 2021.
Madison Square Garden Sports Corp. (NYSE: MSGS) has appointed Greg Kim as the new Head of CLG, effective immediately. Kim, an established figure in the esports industry, will oversee all business operations and work closely with key staff to enhance CLG's performance and fan engagement. He previously served as Director of Esports for Evil Geniuses and has a strong background in gaming strategy and data management. This leadership change is seen as a positive step toward advancing CLG's legacy and market position in the competitive esports arena.
The New York Rangers have partnered with Esports Entertainment Group Inc. (EEG) to serve as their Official esports tournament provider starting July 1. This collaboration will feature three Rangers-themed esports tournaments managed by EEG under its Esports Gaming League brand. EEG will produce promotional videos for these tournaments, which will offer prizes including Rangers merchandise. The deal aims to engage audiences interested in both hockey and gaming, signaling a strategic expansion into the esports market.
The New York Knicks announced that Game 5 of their playoff series against the Atlanta Hawks, scheduled for June 2, has sold out, following successful sellouts for earlier games. Attendance indicates a strong return of fans, with over 90% being fully vaccinated. With no social distancing or mask requirements in vaccinated sections, the team's policy supports vaccination efforts and aims to enhance game day experiences. The Knicks' first-round series is currently tied at one game each, escalating excitement and engagement among fans.
The New York Knicks reported the sale of all tickets for their first two playoff games against the Atlanta Hawks, set at a 15,000 capacity under Covid-19 guidelines. Nearly 90% of attendees are expected to be fully vaccinated, making these events the largest indoor gatherings in New York State since the pandemic began. Tickets went on sale on May 18 for Season Ticket Members and were sold out by May 20. The playoff series begins on May 23, with safety measures in place for vaccinated and unvaccinated attendees.
Madison Square Garden Sports Corp. (MSGS) reported $183.0 million in revenue for Q3 FY2021, a 32% decline compared to $267.6 million in Q3 FY2020, largely due to COVID-19 capacity restrictions. Operating income fell to $8.1 million, a decrease of $2.5 million year-over-year. Adjusted operating income saw a rise of 8% to $30.0 million. The company has $289.1 million in liquidity but carries a total debt of $410 million. Fan attendance is expected to increase to 30% from May 19, 2021, and opportunities in mobile sports gaming in New York could enhance engagement.
Madison Square Garden Sports Corp. (NYSE: MSGS) will release its fiscal third quarter results for the period ended March 31, 2021, on May 5, 2021, prior to market opening. The Company will not conduct an earnings conference call. MSGS has announced it will hold two annual earnings calls, focusing on the second and fourth fiscal quarters.
MSG Sports is recognized for its prominent sports assets, including the New York Knicks and New York Rangers, alongside development league teams and esports ventures.
The New York Knicks and Squarespace announced the winners of the fourth annual “Make It Awards,” awarding four businesses with $30,000 grants, a one-year Squarespace subscription, and mentorship. The winners include It’s From The Sole, a sneaker donation nonprofit; First Tech Fund, supporting underprivileged NYC students with tech access; IV Comfort Solutions, improving pediatric healthcare through innovative IV bag covers; and Popcorn for the People, creating employment for adults with Autism. This year saw a record increase in applications by over 100% since 2017.
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