";s:4:"text";s:4037:" Madison Square Garden Entertainment Corp. (NYSE: MSGE) today provided an update on its business operations and reported financial results for the … Investments and loans to nonconsolidated affiliates
As a result of the COVID-19 pandemic, in mid-March, the Company’s performance venues and Tao Group Hospitality’s entertainment dining and nightlife venues were closed, and, except for certain Tao Group Hospitality venues, remain closed today. In addition, the Company features the original production – the Christmas Spectacular Starring the Radio City Rockettes – and through Boston Calling Events, produces the Boston Calling Music Festival. The Company also ended financial support of event-level employees at its performance venues at the end of May.
As of June 30, 2020, the significant majority of deferred ticket revenue was related to events that have been or are expected to be rescheduled into calendar 2021. Madison Square Garden Entertainment Corp. MSG Entertainment is a world leader in live experiences with a portfolio of iconic venues and entertainment brands. The Boston Calling Music Festival, scheduled for Memorial Day weekend, was canceled. Debt outstanding consisted of a $33.8 million bank term loan at Tao Group Hospitality. The Entertainment business will be part of a new company that will be named Madison Square Garden Entertainment Corp. at separation, and its … You must click the activation link in order to complete your subscription. Madison Square Garden Entertainment Corp. (also known as MSG Entertainment) is an American entertainment holding company based in New York City.
For fiscal 2020, the Company generated $762.9 million in revenues, a 27% decrease as compared to fiscal 2019. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the ‘unsubscribe’ section below.
MSG Entertainment is also building a new state-of-the-art venue in Las Vegas, MSG Sphere at The Venetian, and has announced plans to build a second MSG Sphere in London, pending necessary approvals. This primarily reflects higher employee compensation and related benefits of $14.6 million, including the impact of severance-related costs attributable to separation agreements, partially offset by a decrease in professional fees of $3.7 million. Diluted weighted-average number of common shares outstanding Less: Net loss attributable to nonredeemable noncontrolling interests Total liabilities, redeemable noncontrolling interests and equity Gain on disposal of assets held for sale, including associated settlements
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