Madison Square Garden Entertainment Corp. Provides Update on Tao Group Hospitality

Key Facts

NEW YORK--(BUSINESS WIRE)--Madison Square Garden Entertainment Corp. (NYSE: MSGE) (“MSG Entertainment”) today announced the Company is exploring a potential sale of 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 over 20 markets across four continents.
MSG Entertainment regularly evaluates ways to maximize shareholder value and believes that now is the appropriate time to explore a potential sale of its interest in Tao Group Hospitality.
Investors are cautioned that any such forward-looking statements are not guarantees of future performance or results and involve risks and uncertainties, and that actual results, developments or events may differ materially from those in the forward-looking statements as a result of various factors, including financial community perceptions of the Company and its business, operations, financial condition and the industries in which it operates, the impact of the COVID-19 pandemic and the factors described in the Company’s filings with the Securities and Exchange Commission, including the sections titled “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” contained therein.