Madison Square Garden Entertainment Corp. released dism…

Madison Square Garden Entertainment Corp. released dismal Q2 earnings for its fiscal year 2021. MSG Entertainment’s prized possession, Madison Square Garden, closed to guests in March 2020. As a result, the company reported revenue of $23.1 million during the quarter – a 94% decrease from last year’s Q2. MSG also took an operating loss of $112.5 million during the quarter, and operating income was only $69.6 million. New York Gov. Andrew Cuomo’s recent approval of a plan to reopen stadiums and arenas provides opportunity for MSG to bounce back. Cuomo announced that stadiums and arenas can reopen beginning Feb. 23.
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