MSG Entertainment Files 2024 10-K
Ticker: MSGE · Form: 10-K · Filed: Aug 16, 2024 · CIK: 1952073
| Field | Detail |
|---|---|
| Company | Madison Square Garden Entertainment CORP. (MSGE) |
| Form Type | 10-K |
| Filed Date | Aug 16, 2024 |
| Risk Level | medium |
| Pages | 15 |
| Reading Time | 18 min |
| Key Dollar Amounts | $0.01 |
| Sentiment | neutral |
Sentiment: neutral
Topics: 10-K, annual-report, financials
TL;DR
MSGE dropped its 2024 10-K. Full year financials are in.
AI Summary
Madison Square Garden Entertainment Corp. (MSGE) filed its 2024 10-K report, detailing its fiscal year ending June 30, 2024. The company, headquartered at Two Pennsylvania Plaza, New York, NY 10121, operates within the amusement and recreation sector. This filing covers the period from July 1, 2023, to June 30, 2024, and includes financial data and operational updates for the company and its subsidiaries.
Why It Matters
This 10-K filing provides investors and stakeholders with a comprehensive overview of Madison Square Garden Entertainment Corp.'s financial performance and business operations for the fiscal year 2024, crucial for understanding the company's current standing and future prospects.
Risk Assessment
Risk Level: medium — 10-K filings are standard annual reports, but the specific financial details and disclosures within this report could reveal material risks or opportunities.
Key Numbers
- 2024 — Fiscal Year End (The report covers the fiscal year ending June 30, 2024.)
- 0630 — Fiscal Year End Date (The specific end date for the reported fiscal year.)
- 20240816 — Filing Date (The date the 10-K was officially filed with the SEC.)
Key Players & Entities
- Madison Square Garden Entertainment Corp. (company) — Filer of the 10-K
- Two Pennsylvania Plaza, New York, NY 10121 (location) — Business and mailing address
- 0630 (date) — Fiscal year end
- 20240630 (date) — Conformed period of report
- 20240816 (date) — Filed as of date
FAQ
What is the primary business of Madison Square Garden Entertainment Corp.?
Madison Square Garden Entertainment Corp. operates in the Services-Miscellaneous Amusement & Recreation sector, with its principal office located at Two Pennsylvania Plaza, New York, NY.
What is the reporting period for this 10-K filing?
The conformed period of report for this 10-K filing is June 30, 2024, covering the fiscal year ending on that date.
When was this 10-K filed with the SEC?
This 10-K filing was filed as of August 16, 2024.
What was the company's former name?
The company's former name was MSGE Spinco, Inc., with a date of name change on October 25, 2022.
What is the company's IRS number?
The company's IRS number is 920318813.
Filing Stats: 4,580 words · 18 min read · ~15 pages · Grade level 15.1 · Accepted 2024-08-16 16:08:31
Key Financial Figures
- $0.01 — 2024: Class A Common Stock par value $0.01 per share — 41,190,264 Class B Common
Filing Documents
- msge-20240630.htm (10-K) — 2463KB
- ex191-msgeinsidertradingpo.htm (EX-19.1) — 53KB
- msgeexhibit2110630202410k.htm (EX-21.1) — 18KB
- msgeex231consentofdeloitte.htm (EX-23.1) — 3KB
- msgeexhibit3110630202410k.htm (EX-31.1) — 10KB
- msgeexhibit3120630202410k.htm (EX-31.2) — 10KB
- msgeexhibit3210630202410k.htm (EX-32.1) — 3KB
- msgeexhibit3220630202410k.htm (EX-32.2) — 4KB
- ex971-msgeclawbackpolicy.htm (EX-97.1) — 34KB
- image.jpg (GRAPHIC) — 58KB
- image1a.jpg (GRAPHIC) — 58KB
- msge-20240630_g1.jpg (GRAPHIC) — 43KB
- msge-20240630_g2.jpg (GRAPHIC) — 178KB
- 0001952073-24-000022.txt ( ) — 14801KB
- msge-20240630.xsd (EX-101.SCH) — 83KB
- msge-20240630_cal.xml (EX-101.CAL) — 135KB
- msge-20240630_def.xml (EX-101.DEF) — 587KB
- msge-20240630_lab.xml (EX-101.LAB) — 1055KB
- msge-20240630_pre.xml (EX-101.PRE) — 838KB
- msge-20240630_htm.xml (XML) — 2348KB
Risk Factors
Item 1A. Risk Factors 11
Unresolved Staff Comments
Item 1B. Unresolved Staff Comments 23
Cybersecurity
Item 1C. Cybersecurity 24
Properties
Item 2. Properties 25
Legal Proceedings
Item 3. Legal Proceedings 25
Mine Safety Disclosures
Item 4. Mine Safety Disclosures 25 PART II
Market for the Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities
Item 5. Market for the Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 26
[Reserved]
Item 6. [Reserved] 27
Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations 28
Quantitative and Qualitative Disclosures about Market Risk
Item 7A. Quantitative and Qualitative Disclosures about Market Risk 44
Financial Statements and Supplementary Data
Item 8. Financial Statements and Supplementary Data 44
Changes in and Disagreements with Accountants on Accounting and Financial Disclosure
Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 45
Controls and Procedures
Item 9A. Controls and Procedures 45
Other Information
Item 9B. Other Information 45
Disclosure Regarding Foreign Jurisdictions that Prevent Inspections
Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 45 PART III
Directors, Executive Officers and Corporate Governance
Item 10. Directors, Executive Officers and Corporate Governance 46
Executive Compensation
Item 11. Executive Compensation 46
Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters
Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 46
Certain Relationships and Related Transactions, and Director Independence
Item 13. Certain Relationships and Related Transactions, and Director Independence 46
Principal Accountant Fees and Services
Item 14. Principal Accountant Fees and Services 46 PART IV
Exhibits and Financial Statement Schedules
Item 15. Exhibits and Financial Statement Schedules 47
Form 10-K Summary
Item 16. Form 10-K Summary 51 PART I
Business
Item 1. Business Madison Square Garden Entertainment Corp. is a Delaware corporation with its principal executive offices at Two Pennsylvania Plaza, New York, NY, 10121. Unless the context otherwise requires, all references to "we," "us," "our," "MSG Entertainment" or the "Company" refer collectively to Madison Square Garden Entertainment Corp., a holding company, and its direct and indirect subsidiaries. We conduct substantially all of our business activities discussed in this Annual Report on Form 10-K through MSG Entertainment Holdings, LLC and its direct and indirect subsidiaries. The Company was incorporated on September 15, 2022 as a direct, wholly-owned subsidiary of Sphere Entertainment Co. ("Sphere Entertainment"), formerly known as Madison Square Garden Entertainment Corp. On March 29, 2023, Sphere Entertainment's board of directors approved the distribution of approximately 67% of the outstanding common stock of the Company to its stockholders (the "MSGE Distribution"), with Sphere Entertainment retaining approximately 33% of the outstanding common stock of the Company (in the form of our Class A common stock, $0.01 par value per share ("Class A common stock")) (the "MSGE Retained Interest") immediately following the Distribution, which occurred on April 20, 2023 (the "MSGE Distribution Date"). The Company owns the traditional live entertainment business previously owned and operated by Sphere Entertainment through its Entertainment business segment, excluding the Sphere business (which was retained by Sphere Entertainment after the MSGE Distribution Date). Following the completion of the secondary offering by Sphere Entertainment of the Company's Class A common stock on September 22, 2023, Sphere Entertainment no longer owns any of the Company's outstanding common stock. All financial statement amounts prior to April 21, 2023 are presented on a carve-out basis as the financial information prior to the MSGE Distribution Date was prepared on a standalon