New York, February 6, 2023–(Business Wire)–Madison Square Garden Entertainment Corp. (NYSE: MSGE ) (“MSG Entertainment”) announced today that it is exploring the possibility of selling its majority interest in Tao Group Hospitality. Since MSG Entertainment acquired its interest in 2017, Tao Group Hospitality has transformed into a global entertainment dining and nightlife powerhouse with more than 70 branded locations in more than 20 markets on four continents.
MSG Entertainment regularly evaluates ways to maximize shareholder value and believes that now is an opportune time to explore the potential sale of its interest in Tao Group Hospitality. There is no guarantee that this prospecting process will result in a transaction.
About Madison Square Garden Entertainment
Madison Square Garden Entertainment Corp. (MSG Entertainment) is the leader in live entertainment. The company hosts or presents a variety of events at its diverse venues: Madison Square Garden in New York, the Hulu Theater at Madison Square Garden, Radio City Music Hall and the Beacon Theater; and the Chicago Theatre. MSG Entertainment also built a new state-of-the-art venue at The Venetian MSG Sphere Las Vegas. In addition, the company features original productions, Christmas spectacle starring the Radio City Rockettes, and offers a wide range of live sports content and other programming through two regional sports and entertainment networks, MSG Network and MSG Sportsnet. MSG Entertainment also owns Tao Group Hospitality, whose entertainment, dining and nightlife brands include: Tao, Hakkasan, Omnia, Marquee, Lavo, Beauty & Essex and Cathédrale.For more information visit www.msgentertainment.com.
forward-looking statement
This press release may contain statements that constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that any such forward-looking statements are not guarantees of future performance or results and involve risks and uncertainties, and as a result of various factors, including the financial community’s views on the Company and its business, operations, financial condition and its perceptions of the operating industry, the impact of the COVID-19 pandemic, and factors described in the company’s filings with the Securities and Exchange Commission, including those contained therein under the headings “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” “part. The company disclaims any obligation to update any forward-looking statements contained herein.
View source releases on businesswire.com: https://www.businesswire.com/news/home/20230206005616/en/
contact person
Ali Dennis, CFA
Senior Vice President, Investor Relations, Financial Communications and Treasury
Madison Square Garden Entertainment
(212) 465-6072
justin braber
Vice President, Financial Communications
Madison Square Garden Entertainment
(212) 465-6109
Grace Kaminer
Senior Director, Investor Relations and Finance
Madison Square Garden Entertainment
(212) 631-5076