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Sydnee Gatewood
Sydnee Gatewood
Articles (2594) 

John Rogers Comments on Madison Square Garden Entertainment

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July 28, 2020 | About:
We also added Madison Square Garden EntertainmentCorporation (NYSE:MSGE), which owns scarce and well positioned venue assets in New York City and Las Vegas. MSGE was spun out from Madison Square Garden Company on April 17. Given current restrictions on large gatherings, we entered the name at a meaningful discount to our estimate of private market value. With $1.4 billion in cash and investments, we believe the company has enough liquidity to withstand the current cash burn until event attendance normalizes – at which point, we think MSGE is positioned to see a more rapid return to higher usage than peers.

From John Rogers (Trades, Portfolio)' Ariel Fund second-quarter 2020 commentary.

About the author:

Sydnee Gatewood
I am the editorial director at GuruFocus. I have a BA in journalism and a MA in mass communications from Texas Tech University. I have lived in Texas most of my life, but also have roots in New Mexico and Colorado. Follow me on Twitter! @gurusydneerg

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