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.
