Madison Square Garden is synonymous with New York City and often brought up when discussing iconic arenas such as MSG Entertainment (owner of Madison Square Garden Arena and many others such as Forum in Los Angeles and Chicago Theatre) along with hosting various sporting and musical events as well as having its own sports television network.
MSGS has been operating for more than 100 years and are best-known for hosting professional sports franchises like the New York Knicks and Rangers. MSGS is publicly-traded company; most of its shares are held by shareholders who invested their money with MSGS; they receive a portion of profits in return. James L. Dolan, who owns both franchises, is its largest shareholder with his shareholding accounting for 30% of profits generated.
Though losing money, Madison Square Garden still holds immense promise. Making major investments for future growth may help turn things around over time; one major project slated by them includes renovation of Madison Square Garden that is projected to cost over $1 billion with upgrades including seating upgrades, video board modernization and upgrade of concession areas.
Another project under development by the company is a state-of-the-art venue called MSG Sphere in Las Vegas, set to open by 2023 and serve as home of both Knicks team as well as hosting various other events.
MSG Sphere is one of several new venues built by MSG over recent years to remain competitive in the global sports and entertainment market. It will rival such existing facilities as T-Mobile Arena and Barclays Center in Brooklyn – part of an overall strategy to make its brand even more effective globally.
MSG Sphere will offer fans many amenities, such as two Chase Bridges that hang from its roof and new suites with “center stage” views. In addition, there will be a new GardenVision center-hung multimedia display as well as expanded food and beverage services.
Comparably’s analysis has found that employees at The Madison Square Garden Company give it high ratings across various culture dimensions. Employees report being satisfied with their managers, pace of work and overall happiness within the workplace. Furthermore, The company provides an attractive array of benefits.