There are a few immediate catalysts in my view. The Vegas Sphere opening in 2023, the DTC product launch for the networks and buybacks starting just as the Dolans did prior to their spin-off engineering and then of course a full recovery of core business, which is a luxury product I expect to continue to do well. Risks: cost overshoot on the Sphere, RSN still bleeding,
b
If MSGEs primary assets were in Miami, e.g., the stock would be above 120$ even in this market. Since it’s Eric Adams territory where crime is rampant and anyone with a few bucks is on a waiting list out its tough imagining MSGE trading above 49$ for the foreseeable future.
P
Book value per share is 103.41.
b
Say hello to the 40’s. Not much here to like when most of their stuff is in Democrat led barns.
b
Will nibble a little bit on this in the low 40s and that’s providing Eric Adams is out as mayor.
'
down 27% with NO DIVIDEND!! BUY QUALITY AND NOT A STOCK WITH A minus roe!!
c
2.1bn for this set of unique assets? It's a joke. Looking to add more if it falls below 60.
P
Last report was for Q3 2021. Q4 and forward will be much better.
J
hard sell here !
Y
Madison Square Garden Entertainment is down 5.38% to 65.57
Y
Madison Square Garden Entertainment is down 5.18% to 69.13
J
John Rogers Ariel funds doubled down on MSGE in Q3. Now it’s largest holding. Also took a position in sports.
Y
Madison Square Garden Entertainment is down 5.23% to 77.69
R
Madison Square Garden alone is worth the market cap...and they have a billion in cash. It doesn't make sense. I thought this would be the top opening up play.
J
Looks like they are making a HUGE vegas play. Just acquired Hakkasan, Wet Republic and Omnia. They pretty much own the Vegas night scene now.
s
Can anyone tell me why the merger is bad for MSGE shareholders when MSGN appears to be highly profitable? To me, it looks bad for MSGN stockholders, but positive for MSGE stockholders. 900 million for MSGN seems like a favorable price for MSGN.
J
they used the fcf from msgn to refinance the 7% debt notes msge took out during the pandemic. wow. that's fantastic.
c
"New York, New York"
c
Sum of the parts analysis, conservatively calculated:
MSG Arena 1500m Radio City Music Hall/Xmas Spectacular 200m Beacon Theater, Hulu, Chicago Theater, Rockettes 200m Tao/Hakkasan 400m (way below purchase prices) Networks 800m Cash 1170m air rights 500m (probably triple due to Penn Station renovation and Vornado activities) Sphere 0m (may fail)
- 954m debt
= 3.616 bn USD enterprise value minimum. Equates to 50% upside minimum in the stock valuation.
R
This stock seems like one of the most undervalued when you consider the Garden alone is worth market cap...If they ever got rid of Dolan this thing probably doubles. Im buying, Im guessing most people dont know the stock
Since it’s Eric Adams territory where crime is rampant and anyone with a few bucks is on a waiting list out its tough imagining MSGE trading above 49$ for the foreseeable future.
Not much here to like when most of their stuff is in Democrat led barns.
MSG Arena 1500m
Radio City Music Hall/Xmas Spectacular 200m
Beacon Theater, Hulu, Chicago Theater, Rockettes 200m
Tao/Hakkasan 400m (way below purchase prices)
Networks 800m
Cash 1170m
air rights 500m (probably triple due to Penn Station renovation and Vornado activities)
Sphere 0m (may fail)
- 954m debt
= 3.616 bn USD enterprise value minimum. Equates to 50% upside minimum in the stock valuation.