Madison Square Garden (MSG) Sports recorded income of US$382.7 million for the fiscal third quarter of 2023, a rise of 13 per cent year-over-year (YoY).

Confirmed:

• Revenue was up US$45 million on final yr’s third quarter
• Q3 working revenue was US$81.8 million, a 33 per cent YoY soar
• Adjusted working revenue was US$98.1 million, up 20 per cent 
• Pre/common season ticket-related income rose by US$21.9 million
• Food, beverage and merchandise gross sales had been up US$3.2 million
• Suite income climbed by US$8.9 million 
• Local media rights charges elevated US$6.9 million 
• Sponsorship and signage income rose US$4.8 million

Context:

Revenue throughout numerous segments elevated partly because of a better variety of common season house video games at MSG for the National Basketball Association’s (NBA) New York Knicks and the National Hockey League’s (NHL) New York Rangers in comparison with the prior yr interval.

Comment:

“Robust demand for the Knicks and Rangers led to solid third quarter results and has put our company on track to achieve another year of strong operating and financial performance,” mentioned James L Dolan, MSG Sports government chairman. 

Coming subsequent:

The Knicks are in motion for a vital recreation 5 of their second spherical playoff collection in opposition to the Miami Heat on tenth May.