Madison Square Garden Sports Q1 revenue $18.8M down 67% YoY; operating loss widens

Madison Square Garden Sports Corp.

2022-Q1 EPS reported -$0.68 revenue$18,794,000

Revenue of $18.8M, down 67% from $57.0M in prior-year quarter.
Operating loss of $34.9M, vs $27.4M loss; adjusted operating loss $28.1M vs $17.8M loss.
Knicks and Rangers began full 82-game seasons with no capacity restrictions at Madison Square Garden.
New marketing partnerships include BetMGM for mobile sports gaming in NY, plus Infosys and Benjamin Moore.
Both teams experiencing strong season ticket renewal rates and increased corporate sponsorship demand.

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