SEC Comment Letter 0000000000-24-003546 to Madison Square Garden Entertainment Corp. (MSGE)
Madison Square Garden Entertainment Corp.
Date: April 2, 2024 · CIK: 0001952073 · Accession: 0000000000-24-003546
AI Filing Summary & Sentiment
File numbers found in text: 001-41627
Letter
United States securities and exchange commission logo April 2, 2024 Philip D'Ambrosio Executive Vice President and Treasurer Madison Square Garden Entertainment Corp. Two Penn Plaza New York, NY 10121 Re:Madison Square Garden Entertainment Corp. Form 10-K for Fiscal Year Ended June 30, 2023 Response dated March 21, 2024 File No. 001-41627 Dear Philip D'Ambrosio: We have reviewed your March 21, 2024 response to our comment letter and have the following comment(s). Please respond to this letter within ten business days by providing the requested information or advise us as soon as possible when you will respond. If you do not believe a comment applies to your facts and circumstances, please tell us why in your response. After reviewing your response to this letter, we may have additional comments. Unless we note otherwise, any references to prior comments are to comments in our March 12, 2024 letter. Form 10-K for Fiscal Year Ended June 30, 2023 Consolidated and Combined Financial Statements Consolidated and Combined Statements of Operations, page F-4 1.We read your response to prior comment 2. As noted on page 34, food and beverage revenues are recognized on a gross basis and appear to constitute sales of tangible products, rather than revenue from services. Please present revenues and direct operating expenses associated with tangible products, services and leasing activities separately, if they represent more than 10% of total revenues in any period presented. Revenues for items that represent less than 10% of total revenues may be aggregated with revenues for other items that also represent less than 10% of total revenues. Direct operating expenses should be combined in the same manner as the related revenues. Refer to Rules 5-03.1 and 5-03.2 of Regulation S-X.
FirstName LastNamePhilip D'Ambrosio Comapany NameMadison Square Garden Entertainment Corp. April 2, 2024 Page 2 FirstName LastName Philip D'Ambrosio Madison Square Garden Entertainment Corp. April 2, 2024 Page 2 Please contact Suying Li at 202-551-3335 or Rufus Decker at 202-551-3769 if you have questions. Sincerely, Division of Corporation Finance Office of Trade & Services
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United States securities and exchange commission logo
April 2, 2024
Philip D'Ambrosio
Executive Vice President and Treasurer
Madison Square Garden Entertainment Corp.
Two Penn Plaza
New York, NY 10121
Re:Madison Square Garden Entertainment Corp.
Form 10-K for Fiscal Year Ended June 30, 2023
Response dated March 21, 2024
File No. 001-41627
Dear Philip D'Ambrosio:
We have reviewed your March 21, 2024 response to our comment letter and have the
following comment(s).
Please respond to this letter within ten business days by providing the requested
information or advise us as soon as possible when you will respond. If you do not believe a
comment applies to your facts and circumstances, please tell us why in your response.
After reviewing your response to this letter, we may have additional comments. Unless
we note otherwise, any references to prior comments are to comments in our March 12,
2024 letter.
Form 10-K for Fiscal Year Ended June 30, 2023
Consolidated and Combined Financial Statements
Consolidated and Combined Statements of Operations, page F-4
1.We read your response to prior comment 2. As noted on page 34, food and beverage
revenues are recognized on a gross basis and appear to constitute sales of tangible
products, rather than revenue from services. Please present revenues and direct operating
expenses associated with tangible products, services and leasing activities separately, if
they represent more than 10% of total revenues in any period presented. Revenues for
items that represent less than 10% of total revenues may be aggregated with revenues for
other items that also represent less than 10% of total revenues. Direct operating expenses
should be combined in the same manner as the related revenues. Refer to Rules 5-03.1 and
5-03.2 of Regulation S-X.
FirstName LastNamePhilip D'Ambrosio
Comapany NameMadison Square Garden Entertainment Corp.
April 2, 2024 Page 2
FirstName LastName
Philip D'Ambrosio
Madison Square Garden Entertainment Corp.
April 2, 2024
Page 2
Please contact Suying Li at 202-551-3335 or Rufus Decker at 202-551-3769 if you have
questions.
Sincerely,
Division of Corporation Finance
Office of Trade & Services