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Tao group nyc11/27/2023 ![]() ![]() In addition, the Company features the original production, the Christmas Spectacular Starring the Radio City Rockettes, and delivers a wide range of live sports content and other programming through two regional sports and entertainment networks, MSG Network and MSG Sportsnet. MSG Entertainment is also building a new state-of-the-art venue in Las Vegas, Sphere at The Venetian. The Company presents or hosts a broad array of events in its diverse collection of venues: New York’s Madison Square Garden, The Theater at Madison Square Garden, Radio City Music Hall and Beacon Theatre and The Chicago Theatre. (MSG Entertainment) is a leader in live entertainment. Madison Square Garden Entertainment Corp. (1) See below for the definition of adjusted operating income included in the discussion of non-GAAP financial measures and a reconciliation of operating income to adjusted operating income.Ībout Madison Square Garden Entertainment Corp. LLC served as financial advisor and Hughes Hubbard & Reed LLP served as legal advisor.įor Mohari Hospitality, Moelis & Company LLC served as financial advisor and Kirkland & Ellis LLP served as legal advisor. Effective as of the closing of the sale, the Company will enter into multi-year agreements with Tao Group Hospitality for ongoing consulting, marketing, and support services at Madison Square Garden and Sphere in Las Vegas.įor Tao Group Hospitality, equity holders of which include MSG Entertainment, Goldman Sachs & Co. The closing of the transaction is not conditioned on the receipt of financing. (1)Ĭompletion of the sale is subject to customary closing conditions. In fiscal 2022, Tao Group Hospitality generated approximately $485 million in revenue, $37 million in operating income, and $67 million in adjusted operating income. Since MSG Entertainment acquired a majority interest in 2017, Tao Group Hospitality has transformed into a global powerhouse in entertainment dining and hospitality, with a portfolio of over 80 branded locations in over 20 markets across four continents. Today’s announcement follows a successful bidding process with multiple parties. Upon completion of the sale of its majority interest, MSG Entertainment expects to receive net cash proceeds of approximately $300 million. The transaction is expected to close in May. (NYSE: MSGE) (“MSG Entertainment” or “Company”) today announced that it has agreed to sell its 66.9% majority interest in Tao Group Hospitality to Mohari Hospitality, a global investment company focused on the luxury lifestyle and hospitality sectors, in a transaction that values Tao Group Hospitality at $550 million. The new shop opened in Soho at 46 Grand Street, near West Broadway, on September 30, with a menu that lists barbecued meats, seafood, and sauces that are served over a spoonful over rice and then wrapped in bean curd for a bite-sized snack.NEW YORK-( BUSINESS WIRE)-Madison Square Garden Entertainment Corp. Yubu, a small counter specializing in Korean fried tofu pockets, opened a second location over the weekend. In New York City, a handful of chefs are bringing more representation to the region, with restaurants serving corn tamales steamed in banana leaves, empanadas, and carimañolas, a stuffed yuca dish. There are some 210,000 Panamanians living in the United States, yet the Central American cuisine remains relatively unknown, according to the New York Times. “If I were to name this concept Pinky’s Vegan, how many people do you think would have been there?” she said last month. The burger counter with seven locations nationally sells sandwiches named the One Night Stand and the Hollywood Hooker, an attempt to reclaim those words and make vegan eating “sexy,” according to founder Pinky Cole. “I would not feel comfortable bringing, where they would be bombarded with these kinds of messages about women and sex,” one Park Slope parent told the New York Post. Slutty Vegan, the famed Atlanta burger chain that recently opened in Fort Greene, apparently has Brooklyn parents “squirming” over its unconventional branding. Parents are ‘squirming’ over Slutty Vegan (Google lists an October 26 opening date for the hotel.) The new spots include: Sake No Hana, a modern Japanese restaurant a rooftop bar called the Highlight Room the Fix, a lobby cafe and bar a piano lounge called Silver Lining and Loosie’s, a nightclub with an “early 2000s” vibe. The concepts will all be located in the forthcoming Moxy hotel on the Lower East Side, set to open in late October, according to Page Six. Tao Group, the international hospitality company behind Tao Downtown, Cathédrale, and other venues, is headed to the Lower East Side with five new restaurants and bars this fall. ![]()
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