Spin-off - Madison Square Garden Entertainment Corp.

Form Type: 10-Q

Filing Date: 2025-02-06

Corporate Action: Spin-off

Type: New

Accession Number: 000195207325000008

Filing Summary: Madison Square Garden Entertainment Corp. reported its financial results for the quarter ended December 31, 2024, showing total revenues of $407.4 million, which is an increase from $402.7 million in the prior year period. Notably, revenues from entertainment offerings remained consistent at approximately $318.3 million while food, beverage, and merchandise revenues increased slightly. The company also reported operating income of $139.0 million and net income of $75.9 million for the quarter, demonstrating continued profitability despite rising operating expenses. The balance sheet shows total assets of approximately $1.59 billion and total liabilities of about $1.58 billion, indicating a stable financial position. The discussions include mentions of restructuring activities, and relevant related party transactions which may impact financial performance moving forward. Additionally, there are details regarding stockholder equity and common stock classes, indicating a clear corporate organization.