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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 hold a conference call on November 10, 2021, at 10:00 a.m. ET, to discuss its fiscal first quarter results ending September 30, 2021. This call is part of their ongoing effort to keep stakeholders informed amid the COVID-19 pandemic and will be preceded by a 10-Q filing on November 9, 2021. Interested participants can join via telephone or webcast. The company primarily operates the New York Knicks and New York Rangers, along with additional sports and esports assets.
Madison Square Garden Sports Corp. has announced that Jonathon McDaniel has been appointed as the general manager for its esports organization, CLG's League of Legends team. Previously the assistant general manager at Golden Guardians, McDaniel has a history of developing talented players. He aims to enhance CLG's program, focusing on continuous growth and championship aspirations. McDaniel has collaborated with Riot Games on various league initiatives, contributing to the esports community since 2011.
Madison Square Garden Sports Corp. (MSGS) and Madison Square Garden Entertainment Corp. (MSGE) have renewed their marketing partnership with JPMorgan Chase (JPM), continuing their role as Marquee Partner. The renewal includes the debut of a new Chase Lounge at Madison Square Garden, exclusively for Chase cardholders, starting with the Knicks home opener. Guests can enjoy complimentary food and beverages. This partnership extends across various MSG venues and includes initiatives like the Chase Sound Check series and community support programs.
Madison Square Garden Sports Corp. (NYSE: MSGS) and Madison Square Garden Entertainment Corp. (NYSE: MSGE) have renewed their marketing partnership with Lexus. This multi-year agreement solidifies Lexus's status as the Official Luxury Auto Partner for prestigious venues including Madison Square Garden and Radio City Music Hall. Lexus will continue to gain significant brand exposure through vehicle displays, signage at games, and integrations during broadcasts. This renewal underscores a strong relationship developed since Lexus first partnered in 2012, focusing on innovative experiences for guests.
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.
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