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MADISON SQUARE GARDEN SPORTS MADISON SQUARE GARDEN SPORTS CORP . REPORTS FISCAL 2021 SECOND QUARTER RESULTS NEW YORK , N.Y. , February 3 , 2021 - Madison Square Garden Sports Corp. ( NYSE : MSGS ) today reported financial results for the fiscal second quarter ended December 31 , 2020 . In the fall , the NBA and NHL successfully completed their 2019-20 seasons . Since then , the NBA announced a 72 - game , 2020-21 regular season , which started on December 22 , 2020. During the fiscal 2021 second quarter , the New York Knicks ' ( " Knicks " ) played nine pre / regular season games as compared to 37 pre / regular season games in the prior year period . The Knicks ' four home games at Madison Square Garden Arena ( “ The Garden ” ) during the fiscal 2021 second quarter were played without fans due to ongoing government - mandated assembly restrictions . The NHL announced a 56- game , 2020-21 regular season , which began on January 13 , 2021. As a result , the New York Rangers ( “ Rangers ” ) did not play any games during the fiscal 2021 second quarter , as compared to 39 regular season games in the prior year period . For the fiscal 2021 second quarter , financial results reflect the impact of the COVID - 19 pandemic , including the timing of the start of the 2020-21 NBA and NHL regular seasons and fan attendance restrictions at The Garden . As a result , the Company generated revenues of $ 28.8 million , a decrease of $ 264.0 million , or 90 % , as compared to the prior year period . In addition , the Company reported an operating loss of $ 38.4 million and an adjusted operating loss of $ 19.0 million , as compared to an operating loss of $ 0.2 million and adjusted operating income of $ 19.0 million in the prior year period . ( 1 ) ( 2 ) Madison Square Garden Sports Corp. President and CEO Andrew Lustgarten said , " We are excited to have the Knicks and Rangers competing again and look forward to the time when we can safely welcome fans back to The Garden . As we prepare for a return to normal operations , we remain confident in the fundamentals of our business , the strength of our balance sheet , and that we are well - positioned to create long - term shareholder value . " Results from Operations Results for the three and six months ended December 31 , 2020 and 2019 are as follows : Three Months Ended December 31 , Six Months Ended December 31 , Change Change $ millions 2020 2019 $ % 2020 Revenues Operating loss 28.8 $ $ ( 38.4 ) $ 292.8 $ ( 264.0 ) ( 0.2 ) $ ( 38.2 ) ( 90 ) % $ NM $ 2019 85.8 $ 342.6 $ ( 256.8 ) ( 65.8 ) $ ( 59.6 ) $ ( 6.3 ) $ % ( 75 ) % ( 10 ) % Adjusted operating income ( loss ) ( 19.0 ) $ 19.0 $ ( 38.0 ) NM $ ( 36.8 ) $ ( 21.6 ) $ ( 15.1 ) ( 70 ) % Note : Does not foot due to rounding ( 1 ) For the three and six months ended December 31 , 2019 , the reported financial results of the Company reflect the results of the MSG Entertainment business segment and the sports booking business , previously owned and operated by the Company through its MSG Sports business segment , as discontinued operations . In addition , results from continuing operations for the same period include certain corporate overhead expenses that the Company did not incur in the period after the completion of the spin - off of Madison Square Garden Entertainment Corp. ( " MSG Entertainment " ) and does not expect to incur in future periods , but which did not meet the criteria for inclusion in discontinued operations . The reported financial results of the Company for the three and six months ended December 31 , 2020 reflect the Company's results on a standalone basis , including the Company's actual corporate overhead . ( 2 ) See page 3 of this earnings release for the definition of adjusted operating income ( loss ) included in the discussion of non - GAAP financial measures .