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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.
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.
CLG, a leading North American esports organization, has partnered with Samsung Electronics America as the Official Computer Memory Hardware Devices Partner for its teams. This collaboration includes a digital content series and promotional integration across CLG's social media platforms. Samsung will also support CLG's Amateur Competition Platform, the Samsung Open Tournament Series, starting April 24, with events alternating between League of Legends and other fan-voted games. Additionally, Samsung's NVMe memory products will be utilized at the CLG Performance Center.
Madison Square Garden Sports and Madison Square Garden Entertainment announced a multi-year marketing partnership with The Clorox Company. Clorox will serve as the Official Cleaning & Disinfection Products Partner for the Knicks, Rangers, and Madison Square Garden Arena, providing products like electrostatic sprayers. This partnership includes significant brand integration at games and community support initiatives, including the Knicks’ Sweetwater Clifton ‘City Spirit’ Award.
CLG, a leading North American esports organization, has partnered with Bud Light, naming it an Official Partner. This partnership introduces the "Bud Light Streaming Studio" at CLG's Performance Center in Los Angeles, aimed at enhancing livestream content. Bud Light will sponsor virtual viewing parties for CLG's League of Legends matches and promote its ecommerce services. Additionally, a new Twitter feature, "Bud Light Cooldown," will provide match breakdowns, and CLG players will appear on Bud Light's Twitch channel.
CLG, a leading esports organization, has partnered with Logitech G, naming it the Official Peripherals Partner for CLG Red, which includes teams in CS:GO and female players in Valorant and Chess. This multi-year partnership will enhance marketing efforts, feature Logitech branding on jerseys, and promote diversity and inclusion in esports. CLG Red competitions will be broadcasted live on CLG’s Twitch channel, with Logitech G playing a pivotal role in brand integration and original content creation. This collaboration aims to support and elevate professional women’s esports.
Madison Square Garden Sports is excited to welcome fans back after nearly a year, with both the Knicks and Rangers set to host around 2,000 fans starting February 23 and February 26, respectively. Tickets will be available first to season ticket members and suite holders, with prices starting at $50. The teams are committed to ensuring safe experiences for fans and will honor essential workers during the games. This reopening signifies a positive step for New York amid the pandemic, highlighting the importance of fans in sports.
The New York Knicks and Squarespace launched the fourth annual 'Make It Awards' to support local businesses in the tri-state area. Four winners will receive a $30,000 grant, a one-year Squarespace subscription, marketing support, and mentorship. Applications are open until March 12, 2021. Since 2018, $360,000 has been awarded to local entrepreneurs. The judging panel includes prominent figures from various industries. This initiative underscores their commitment to fostering community and supporting small businesses during challenging times.
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