MSGS - Earnings call transcript Q3 2022 | Madison Square Garden Sports Corp.

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Operator

Good morning. Thank you for standing by, and welcome to the Madison Square Garden Sports Corp. Fiscal 2022 Third Quarter Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speaker’s remarks, there will be a question-and-answer session. now Investor turn Relations. would to call I Danes, Ari Instructions] like the to over [Operator Please ahead. go

Ari Danes

Thank you. Good Fiscal XXXX morning, and welcome Quarter Conference to Earnings Call. Third MSG Sports

morning's call our Company's operations. Officer EVP, the will CEO, open will questions. Andy our Our review by Chief prepared and This will an Victoria financial up President the begin Financial results be and with this remarks, on we update call for a Lustgarten, After of followed Treasurer. with our Mink,

If Management's any section Private copy or constitute Reform statements Act it that factors. statements that may financial performance perceptions Investors discussion the those you Securities Litigation the guarantees results uncertainties, measure. of disclaims note operates, any Condition and These therein. The of today's and are is Exchange community of Factors contained Commission, results, available and release, Securities in to business, Today's and and differ developments not well any and have such the sections future in as and the statements to Results provide do X in obligation a update filings which to corporate forward-looking are with its of this take various earnings Risk with operating the that, as and statements condition Analysis events the in Operations a including industry of Please will over following. and it result and financial and the Company's XXXX. contain of Company release, the of from actual that website. call. risks of income within forward-looking a the of factors turn described consolidated entitled Discussion forward-looking operations, Investors the the Financial or to include non-GAAP of may of discussed now not materially as I statements cautioned be of today's Company Pages our meaning On involve may forward-looking financial call operations a during X AOI, that income, the operating Andy. And adjusted reconciliation of and we earnings statements

Andy Lustgarten

and morning, us. joining for thank Good you

fiscal to today near strong results are the we completion be momentum we seeing business. year, here and thrilled operating discussing of As our are the in our we financial

we And As at off be the the call, today's to you the variant, as of of environment another Thankfully, has results, exceedingly in continued another proven throughout year. have faced well last business height with ever-changing the are fiscal impact challenge. know, you Omicron relatively short-lived. our of can example face time was our the yet the Omicron see to we from resilient, coming performing when

operating by For million of adjusted driven the fiscal consumer quarter, delivered revenues and including of exceptionally and million, $XXX demand. corporate robust $XX.X performance, third strong we income

prior by based quarter, shortly, which value In on both for fact, prior discuss uncertainties forma and our we tickets, We're year, year, business fiscal sustained to playoffs, revenues faced believe full as third across full long-term last our the shareholders. for XXXX as suites, the the in see seasons and numerous navigated COVID. excluding more per quarter, sponsorship, to a we've fiscal current results, our to the above due the organization. on opportunities in last how even third 'XX, pandemic, pro have XXXX media and growth well beverage growth And as revenues total this we for business continue revenues as the And, generate will proud to us incredibly stronger suspensions pandemic and horizon continue created pre-pandemic and of were made game well the the well merchandise detail I was the through for quarter driving we successfully to the fiscal exceed impact total the challenges expect the trajectory, rights of as our spin-off. of to have our our third food 'XX the our

month, our at Knicks at business Garden. Looking and no with season full more in regular detail. completed capacity both Last the schedules restrictions Rangers the

the For building the games. the end high remained fan keeping Knicks, home the final enthusiasm right the of season, team's for of stretch through pack

the team first to tonight's Penguins, we're For playoffs the the of Pittsburgh off game. Tuesday round the the Cup pivotal and looking taking Rangers, kicked forward Stanley on with

young, develop, February As renewals several ahead. dedicated this under into multi-year most fortunate month into ticket and and packages members many in pandemic. essentially into to ahead, and early anticipate new already both franchises players a in pre-Omicron sales bases strong to for while January talented this still March. is looking season. attending improvement are to overall high due on the early, display has enthusiasm Both ended of sports, quarter the December per tickets extending We and we in ticket next look of dipping season, the a the been And in loyal on future, and both with continuing season to holders Omicron, after level fan of success are game the among percentage highest years The start. all with in any note, games, of saw to we our contracts the core levels momentum that players have and same the at and an off saw with the throughout late sold ticket returned average March season to

has spending well office to has improvement benefit increase which continued is combined from and The on contributed Garden, to environment see in Ranger average strong tourism ticket now we revenue exciting inside expect rate the current we as Based guest trajectory, greater created introduction enthusiasm and the ticket with solid ticket and the our growth next year as from in as sell-through prices new in season XX% renewal fact, the our In already occupancy. sustained the rising. of season above fans an levels. inventory

compared merchandise including quarter, to pre-pandemic our direct more the a third on levels. to them double-digit Engaging our social remains focus we building unique continued products. through caps relationship we F&B team percentage how priority, that deepen increases channels while During again connection, we've with a with in saw and per innovating fans and media and

partnering the while such For example, initiative fashion our also could NFT only niche as Garden. last to Jeff enhance we collectibles with We've inside merchandise over be Staple. eight launched that an games, offerings, Knicks been and brands purchased Kith featuring the

Rangers one ways of collection season, while merchandise driving connect also we of with demonstrating the our capsule caps our Only the our fact, exclusive the could drove highest novel Night One and Staple In one per fans business. of

content year. only and corporate original which even We engage with in also channels Demand media the and added continue hospitality, also increasing. the net been new XXX,XXX teams' pandemic, channels, on by social team's fans face has for both our of to this followers approximately offering is compelling across strong

marketing step the partnerships, New City this mentioned levels. started of we over are momentum represents occupancy But XX% while As temporary representing three although that, came in to before rate partnerships partners. about still suite new and significant pre-pandemic sports our in industries on is sales our and strong return revenue capitalize with new usage half existing levels. positioned quarter on multi-year to as of by Entertainment. corporate sports I third revenue, to advantage level driven new of mobile meaningfully a The our partners in season, provide sports partnerships equally trending basis. Omicron reach consumers. fiscal wagering back this and exceeding We've partnership up the mobile York office the other return greater into we rates agreement ended entertainment, are now XXXX, see And Sportsbook during the Knicks these employees while despite value spoken pre-pandemic office exposure run results. games full in into we relationships a And we for we in as pre-COVID partner York which them quarter, monthly going connecting DraftKings continued above in March, MSG DraftKings when offer categories Caesar to game average done per will betting welcomed to January. largest the anticipate season. continue in And highest and of the at next in again below category handle now impact And with in average New the move we starts well excited the quarter we major a with the our Rangers strong our seen with and in improving, BetMGM, in we took helping levels. with to in numbers, December, March, an and ability marketing It gaming Mobile are as we're levels due earlier, suite new expanding the We've strengthen also our we also recognize growth into of where, back continue Companies inventory. to suites usage for taking emerging audiences.

As deals we quarter, Coinbase you signed know, last with Socios. and

actively areas of see potential sports the the new to space blockchain incremental only and But sectors. are partnerships. growth new continue betting blockchain exploring opportunities and We across aren't in

Future, marketing welcomed fitness For digital example, of coaching slate we officially company, during the both a and our DoorDash quarter, to partners.

marquee inventory created growth the Another is avenue sponsorship new by of a leagues.

jersey in several last for leagues to and in permitted patch this and for on the high across to patch season a league, a done company, an create job partners visibility during the awareness incremental by XXXX deals teams most call, in beginning broader the debut including noted to new telecast an of engage provides next The opportunities, around MSG enhanced either partner and recent the relationship introduction the new of patch us our by as launched a one which, our NBA L.A. including next NHL with to value, example, franchises NHL's DasherBoards, opportunity highlighted program season exposure Networks. or premium the with in on digitally NHL's number For Brooklyn sponsors NBA's sports, has significant also introduction increase Rangers the opening of asset. new season, only the have we existing additional follows decision an next will outstanding build deepen professional significant brand centered The continued recognizable of increase with developing jersey the in of our eager international

NHL new we've growth take a This highlighted media As future for to upcoming the buzz boost post with year before, significant rights. the with our sale we we playoff next And the team to and results either fiscal in expect marketing quarter. beyond the value we expect will this our the will beyond. the and ahead first a season, of fourth as run the maximize A increase associated in we we the to of list suites approach business and bright fiscal process, opportunities see extend playoffs a incremental playoffs of and fiscal tickets, the The look generates to sponsorship adds partnership this including now for value. the deliberate year. demand inventory, for by benefit Rangers also round year to

upside aware, I and significant President on started focus growing to from which deal, as the I'm And enabling closing, down seen On you're MSG Sports. MSG a In NBA's of rights further attention possible. the new side, the lift few stepped media NHL's Entertainment, leading in potential sure full years, is my rights me just with this coming we've a up season. as national U.S. media recently

place, growth seasoned are I'll which Victoria. iconic future. for I'm the most in generate team continue about will business our With ahead, catalysts And more continue two in professional now value numerous excited turn call and value over than and the long-term we that, franchises to we sports, the confident ever shareholders. the thrive have untapped of for With to have to management with

Victoria Mink

you, good on third I fiscal sheet. everyone. Andy, to provide our update Thank by our would start quarter then and XXXX balance an morning, financial reviewing like and performance

current and with regular the seasons, following seasons, the games year reflected NBA of XX year-over-year continued the you the to XX% their the impact In that reflects year home of of period, the without fan results. restricted pandemic. This NHL onset compressed Knicks back restrictions and the XX capacity the XXXX ongoing the and Rangers COVID-XX without same third and of results fans. 'XX a as corporate and restrictions. first comparability at I'd regular the attendance and the our compares capacity strong but Our games total season any which the full fiscal timing the the regular in 'XX, quarter teams to remind combined the games of for prior pandemic, demand consumer shortened season XXXX including third Garden number quarter attendance played Knicks affected period, Rangers home the fan

media on as of period, NBA timing of revenue of reflected result, 'XX, the a 'XX million a which and the rights prior well increases the was local our season, period. media for primarily year deals, total national media offset $XXX were National deals. over quarter by decrease rights and the the fees the of U.S. began shortened XXXX year revenues the media as start the the the rights period. $XXX.X million in at local due NHL in compared as seasons the revenue compared and As recognized This NHL's NBA's this year rate $XXX.X impact prior new million as contractual partially compressed million higher $XX.X prior quarter. This to represented with to

compared return higher an the receipts. levels restrictions in in to normal balance sponsorship to operating in above operating estimated For higher fees. majority of offset levels credit a lesser offset SG&A in related as due expenses, was and escrow, were fan increases expenses tax This in team of higher year direct which partially reflects operating to net mentioned, the revenue-sharing the year to to Andy $XX.X expenses the prior prior game million reflecting income expense increase place increase which, higher revenue, a lifting suites our by per Adjusted improvement to a on other expenses Garden These partially year the quarter. to mainly direct and as $XX.X and well period. of operating period, arena increased net extent, attendance pre-pandemic a compared license includes are as million the The tickets, as the was the expenses. were primarily This now in NBA by luxury basis. at prior revenues

a representation We was expenses the the SG&A Company's from sales agreements and costs, The season, luxury in primarily to sponsorship related benefit this due compensation and are related marketing taxpayer Entertainment. by with teams. paid other but service commissions employee and not taxes higher benefits, to increase MSG

senior balance the revolving our the end of At of quarter, $XXX million comprised to million under debt facilities $XX million Knicks Turning credit total $XXX and had the the outstanding we Rangers sheet. of from NHL. secured and advanced

a end Our compared net of cash balance to $X.X of million XX decrease of our million represented quarter $XX.X balance December $XX.X million.

$XX end to Ari. I quarter, turn be senior last balances of that is confidence Our with I Ranger liquidity in the cash $XX run runway we to term. quarter, back of we the revolving $XX of million million our on $XXX since of the the growth of unrestricted for the the add trajectory the our paid $XX as week, continued we and the of the million to borrowing deliver Rangers capacity equivalents facilities. credit cash under team's With a to which would benefit million XX, also in and March long addition fiscal both cash and start and now to reflect reflects $XXX.X additional facility that, over debt down of repayments sustained million the in on of the repayments anticipated Rangers the during $XX.X year revolving comprised call playoff seek credit With liquidity, had will a in of secured period. revolver total of third the to million strong including the regards debt business, million what an the in

Ari Danes

Operator, call for like the would questions. to open Victoria. now Thanks, we

Operator

Instructions] for comes David from open line [Operator the of questions. question floor The now JPMorgan. Your from first Karnovsky is

David Karnovsky

higher caps the on you and just food Andrew, mentioned per for merch.

risk price Just through demand maybe see if impacting of people levels, to eases from economic of pent-up any a you mainly of wondering increases? some order you that drivers seeing Is or do more? Are can And these that? the walk there potential then versus as you pre-pandemic, like process? mix customers

Andy Lustgarten

per are -- driving drivers there's David. Well, new few a the -- the there's that caps. driver a been

but obviously, But and we've new performance, merchandise game smartly before not depending Prices tickets ticketing individual on the types pricing so the and that season season, product. of a which the the of On side, an our our we demand to ability variably that's are very on through team package. been been set increase. individual once sell aggressively are focused so we've people sold a driver looking tickets and delivering at come of And then in tickets. building, price

Staple The a second all one night. behind around in That Kith designed cap our did highest Jeff was created Date Jeff Henrik had per alternative collection jerseys only merchandise capsule, we to of capsule. you Henrik's season a So -- we native it. mentioned retirement Lundqvist saw special Staple Night and the

On their on also I move revenue, focused food go and experience, much -- on faster so of we so mean, trying I been experience buy the faster, they're for two and great deliver in been building. things make also here want. shortages, very to and we been also transactions. do on where is be season, very we've the able we've consumer they a beverages F&B did And -- to sure to able focused want pricing, side, consumers it locations having beverage is experience but they're and the their that One enjoying part purposes. -- what focused to to stands drive so We've installed ways faster want and yes, along. we very cashless food of how staffing to but maximize In we've to the to beginning have also

on come and more the more the especially see so been and people has the teams to the back as there. as far, picking demand up, we keeps building. And demand just So, play

to we led a going the much with the can We're We the was all and the it As season -- think still that all -- playoffs. see games I in that see we in just end full, it games ended packed, has renewal it our of the not up the the supporting -- that almost was building pack Knicks, building was -- year, look us. experience. forward, the as consumer rates. house, the last we in great with house the see the way very We even at been the conclusion the

So to going experience, able we're to be deliver to as think continue able continue to as that business. drive great I long we're to this

David Karnovsky

then And for Great. one Victoria. maybe

on update we kind capital as any call, given you have on kind Just since a priority, pay time. where debt somewhat I at allocation the were pandemic lifted last time just here? then. we with were think Omicron the Restrictions down and of the indicated of

Just to your want if a there's change to thinking. see

Andy Lustgarten

Dave, me to So and start it Victoria. let with question, over pass the I'll

feel business again, business our we've been there a trajectory pushing tailwinds it very financial tourism how we That as discussing resilient As said and lot our are to levels pleased we of what Occupancy, we and in keep challenges has business: how with on been we're But flexibility. prudent, and say really our and want results. We bounced maintain and before about remain the said I've through back good seen I'll Omicron. our have -- we've our of still improving. like

growth. talked all areas feel make of those about We good. us So our

rates good our years. upside. and with given to has coming up sponsorship media products. look as We ticketing a We our NBA ability rights forward agreement about business new are especially the few we add feel in really good in Our we feel our with deals, renewal where

know going. corner, we we feel coming we're do. to the being don't said, as our still to on so business we flexible, what's around That we So need seen, as -- about we've we're need and know where returns, be and prudent we good what

And so to the up set wanted Victoria, I stage.

Victoria Mink

on right, we actively. revolvers been our Yes, This focus pretty it. is mean, something the looking really sure. Thanks, doing has have you're paying at and David. Yes, I nearer-term you down restated been

$XX actually, a be a as pay Rangers the as Andy and continues in down I the we unpredictable, as have the well. on did just to So that facility. some really, last we million quarter, And week, said, environment just But flexibility. last just million an the mean, in maintain additional reminder, to was Omicron $XX reminder

the sustained of So of feel good business direction we about term. do the drivers growth our and really in long

options time, our that, be with -- of utilizing So free our will cash we all evaluating over for flow.

Operator

comes from the next from LightShed Partners. Brandon line question Your of Ross

Brandon Ross

new million When your in could a seen you went year. the done I pretty I more you call And on in want on jersey was a Andy, or I about patches, the whatever a astronomical patches? deal sponsorship patch quickly the deal you you how you SquareSpace jersey those $XX football, few there's soccer started. thinking been list with opportunities the detail? a a hoping is Nets through And think the $XX do First some recently potential in million jersey to sponsorship. on sponsorship deal of we've it, potential renewal when on a jersey dig maybe numbers of for, had up? prepared. are year upside think, for a SquareSpace with And

Andy Lustgarten

more excellent But don't following SquareSpace from market The we deal same come expect size, partner. And seeing authorized Knicks key Brandon, partner. side, The come up, do Ranger think in the in some important what an see our when has we're Brandon, so point do thing do also I who does same renew Brooklyn the what's space. [indiscernible] this we our or They on and we when L.A. on like now substantial -- thing but was think this been partner we comment moved Knicks side, identity, next the reported when around the jersey do did the that don't have a also year. in would our XXXX, what's in increase -- the first both SquareSpace our patch side. don't Ranger really jerseys -- NBA to has about create is been we well, talked on in on mentioned that deal, we're going for and often. think want an the out. we on assets side do in we've deal the how talk find opportunity focused here jersey a key We But want yes, patches. We important us. -- is ability about do is, this we or you're category, the also who because to and in I twofold, it's jersey patch new patch to partner to our -- it's we so we're we very thoughtful come the close -- But so on on maximize inventory. We to about the how maximize or our very

So in could you the patch, whole package a you marquee what when patch, such sell you it's what it's could premium from not put do with. asset, a something only the

also, so about we across think forward. sponsorship we maximize or But integrated of And we do an in the partnership multiple think it that how and goes that category. so assets,

for is be to for wouldn't then to be do the that, I drive by maximize been to have SquareSpace not we go example to we a someone they're business incredible think It's becoming brand, with already going current and who's might excellent this what's helping We would but So us. -- portfolio the and a partner, wasn't with the but an best way expect has find way it maybe category category a revenue spending now hard us that to the probably really in -- very our in, kicking been partner. that we someone of an a long time. long-term them and that. maximize

the is amount side you have these And haven't of do has about the well marquee and market companies, fashion, with if for type, marquee -- go noted, opportunity on new how clearly assets, in it -- real fold Ranger new as bring haven't So spent sports, and very Knicks the so the hot maybe a new us, them who opportunity that in into on we the find think we side. around spent create it. we

Brandon Ross

to a not just clear then And is It's what season. allowed Okay. inventory before up any dig detail will impact? really be you NBA now. international little sponsorship of way not the opening into what enables next that potential about bit and that was what Can size

Andy Lustgarten

Brandon. Sure.

applaud So -- the the NBA has I started NBA.

one Commissioner Silver very business. in business, trying a the of the for to really second, the leagues with many led locking figure what's social the been out into to been So other has really NBA -- and ways leader which a leading strategy. growing led started much part a grow down years XX way just flip were When ago, to X, has

markets. actually fully three now put what partners We've you market. within specifically the in to can their -- the International], -- has some international. second to in one We're world, But reach here are by the are the is And do the we're we have the and into of those activations, weren't So even recently, on in internationally. three current markets, with to One, grow maximized we that could two market, certain certain looking Country specifically the the in to only could now focused thinking with sport how opportunities one up meant could international in find number figure world. mean, a We only which a partners us league about three three, same that the the talking partners at grow lead to about reach market. in our opening fold. for people have international I market, gaming. U.S. series is What have opportunities. a business? gaming yield operators team, best merchandise, we an the companies we're three talked the time team NBA how focuses basketball partner so actively of sport out how business is business go So teams in the did going I few is -- partner executions [Picture branding. could that that we to But these or that the a invest expand to largest and on And focused XX, and partners really really certain in allow Remember,

a resources is NBA when And that there the the and think who you behind us also partners reach it some So think that reach is is I reach market. real opportunity find markets. to real What some and to international internationally, want to drive so force New opportunity, basketball and will can internationally we for our real actually put do will now York business.

be to U.S. to able going to internationally, the able -- -- to some -- I in market, international. back market be and they we'll mean, as of be home the York hoping to well as fans, going we'll our going business as then, course, to come we're when to we're sell And So grow have able we're we business sponsorship reach bring them. more we'll reach to we're New more

we So for think reaching opportunity growing grow business new both directly through our a also us through business. great really this to and but sponsorship, is fans our

Operator

line Golding Your next from comes Capital. Macquarie of Paul from question the

Paul Golding

do color around boost are puts XQ sorts and of in business. match, playoffs, playoff Is levers Andy, maybe playoff the terms there But those aspects the of incremental a presumably up? the bit looking peer tickets I of the just bit things? you What into deeper are for of wanted other you so -- for I'm and coming and a the takes around the to sponsorship economics there of from a the fiscal first round. potential think dive Penguins mentioned Rangers

Andy Lustgarten

what the to Paul. a take the going little a for multi-year. I'll a it playoff Victoria bit -- through impact you start little let about then talk today, and bit about means about I'm

Victoria Mink

Great. Paul.

be it the we premium playoff significant we ticket So in to also on And significant Rangers I that to games. to first the without in F&B saying goes both boost a and to able the we're a season during see on price higher revenues at playoff. merchandise AOI. compared front, tickets hosted first, games on side, playoffs. sort the the the sales the But excited series and provide regular We tonight. mean, really -- and Tuesday, for are the more have game couldn't the we're I X we Game yes, as of mentioned, Garden at excited

day to as So to first with playoff-related need some said, AOI, assessments playoff here, in playoff incremental But additional bit little more do costs, a round we than generate million. are expect there with that let's and league Obviously, gate $X.X each some home well. are game receipts. game consider associated say, expenses we of that the about there obviously

the So do goes that if deeper to... Andy, want substantial, contribution with round. prices continue you increase increasing team is will to ticket the round we to into playoffs, and

Andy Lustgarten

incremental to about but incremental I also opportunity a -- I and more now it think question actually about So basis. on but your multiyear as Paul, think sponsorship,

That means at the obviously, increases. selling engagement building price when the both play best run. prices way, Ranger into it up fan rate increases. The sell around So It be to and sitting renewals, is a for demand what and following partners experience partnership to bringing year suites in to year. time into [indiscernible] we're the by helps about our the This we're or and helps thinking us, drives game. following this us increase It us on when sponsorship multi-year. the talking year a

both eventually, So drive in it as more So then ratings even is see offs multi-year the our media, it And do both our engagement, further as obviously, does fan term term. you play more what business your term, longer many business drive does can it you short long right? well -- today, it drives and you'll in but a the also had, playoff basis. it a on for what

Paul Golding

with And concrete do there. playoff what collectibles tying like NFP you're collectibles, on plan question, and playoffs? season? just to Great. you of the I appreciate NFT to a the quite into do if -- it done do are you for success seems regular having And relative that so, thoughts have that you bit price color they how the a follow-up, your

Andy Lustgarten

start. I'll So

the As NFT. note around their by of for in ways NFT NFT doesn't I'll we're -- mean the different we doing anything about successful or there's on space additions It the the many were special to seen Warriors I've the right not won't championships. for team creating something the this think probably moment, playoffs. most the some follow afterwards, of

done you're only that it buyers new building. while it building. We've successful, where fans. NFTs But surprising way what purchases the event. bit little our Those our is Henrik done in our building, with and our database. you do in ways really most the to more around of -- but many those it We've done We've a revenue there's about less we're different we in our to very we've weren't there it's where purchase new to been was purchases So generating of where were ways connect in today, do. fans us XX%

big ways. in and we have So finding connecting so database, -- new new and it's pretty a fans

with And temper we see drive not and with new at those numbers fans expectations. These the does interact play to the look to big and to are new so to it wanting way that I but show we NFTs, want in ways, it business. want ways do numbers

be industries. blockchain to NFTs, any So focus we're new to continuing on and going other

Ari Danes

that have I Operator, the in we Paul. final analyst Can take please? caller, one believe queue. we

Operator

that have question [Harshit Jhavar] we last from The Jefferies. line Yes. the is of from

Unidentified Analyst

sales positive the for year? appreciated. season insight ticket be outlook corporates for next Is on anything touched Any would and You reps. from specifically there there

Andy Lustgarten

So by and business. corporates, is sales and we our -- I what suite mean premium sponsorship guess our corporates our suites

the the We're were best, or that you reach basis of a we category. a you of see increase So we fans, few best space. the run -- to I so I've our in next think be if in the seeing talked recently will we a Partners I look will see discussed, they dissect sponsors corporate in gaming partners a -- largest which third not three whole there. mean, only in were as want on it to as the All there's Obviously, have could our demand as we're mobile just year, there. rate lot about, one this year, an as go space. partner you get and things part the of category at in added I way

about side. so the on on corporate sponsorship good really side, the we And feel

suite partners, the more strong were Single very have the we're of them. in new in terms that those the In find for that to actually -- side, sales the we've looking currently to we at going that playoff looking games year, do the thought when we building. pandemic. we're and sold more do believe here we as have to new been trying find many to talking especially night business And -- face we this able inventory we new locations, sell new be of suites And we upcoming. premiums think we'll

feel we're and our here. really of about we lot a seeing good So -- demand, there's future we think

Unidentified Analyst

Got then has as a of It sense. makes there And you. any accelerates? target just lastly, debt discussion paydown been leverage

Andy Lustgarten

do Victoria, you that? want to handle

Victoria Mink

Sure.

Obviously, But want continue we first about we're a reiterate, to the time quarter, Omicron, all that down part of we did in we're just it But focusing debt and But certainly internally. it's environment free mentioned flow. continue focus continue the lowering that. as this we've paying flexibility So as in on is discussing with has options maintain a about, I when as earlier, on this thinking of some revolvers. we'll terms to want just in drew term. result talking generating I of down so lot unpredictable near the for quarter will last bit just a in we COVID be been and mention our pay near-term our we're that still an be that I cash the something and on the to week evaluating trajectory done earlier be in of last with been we've what downs. to we

Operator

There like turn are would ahead, the time. this Please Mr. to call no Danes. go over at to Ari sir. I back questions

Ari Danes

you Have good us. We Thank Goodbye. forward year-end you to all on speaking day. call our in joining look with for August. a

Operator

conference today's Thank This call. joining. concludes you all for

disconnect. now may You

Madison Square Garden Sports (MSGS) 7 May 222022 Q3 Earnings call transcript