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Madison Square Garden Entertainment Corp. operates a live entertainment business built around major venues including New York's Madison Square Garden, Infosys Theater at Madison Square Garden, Radio City Music Hall, Beacon Theatre and The Chicago Theatre. Company news commonly covers fiscal results, event calendars, venue bookings, concerts, sporting events, family shows and special events across that portfolio.
Recurring updates also include the Christmas Spectacular Starring the Radio City Rockettes, venue partnerships and entitlement arrangements, concession and fan-experience agreements, community or benefit events, and leadership or legal-governance appointments tied to MSG Entertainment.
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Madison Square Garden Entertainment Corp. (NYSE: MSGE) announced an agreement to sell its 66.9% majority interest in Tao Group Hospitality to Mohari Hospitality for a total valuation of $550 million. The transaction is expected to close in May and will provide the company with net cash proceeds of approximately $300 million. Since its acquisition in 2017, Tao Group has expanded significantly, generating about $485 million in revenue and $67 million in adjusted operating income in fiscal 2022. Post-sale, MSG Entertainment will engage in multi-year consulting agreements with Tao Group, ensuring continued operational support at major venues including Madison Square Garden and Sphere in Las Vegas.