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MADISON SQUARE GARDEN SPORTS MADISON SQUARE GARDEN SPORTS CORP . REPORTS FISCAL 2022 FIRST QUARTER RESULTS NEW YORK , N.Y. , November 10 , 2021 - Madison Square Garden Sports Corp. ( NYSE : MSGS ) has reported financial results for the fiscal first quarter ended September 30 , 2021 . In October , the New York Rangers ( " Rangers " ) and New York Knicks ( " Knicks " ) began their 2021-22 regular seasons , with full 82 - game schedules and no capacity restrictions for home games at the Madison Square Garden Arena ( “ The Garden " ) . Both teams are experiencing strong season ticket renewal rates , along with increased corporate sponsorship demand . The Company extended key marketing partnerships with JPMorgan Chase , Anheuser - Busch , Lexus and Squarespace , while also welcoming new partners , including Infosys and Benjamin Moore , as well as BetMGM , which represents the Company's first significant marketing partnership related to mobile sports gaming in New York State . The year - over - year comparability of fiscal first quarter results was impacted by several factors related to the COVID - 19 pandemic . After suspending the 2019-20 seasons in March 2020 , the NHL and NBA resumed play during the summer of 2020 and successfully completed their postseasons in September and October 2020 , respectively . Consequently , the Company's results for the prior year first quarter include the recognition of the remaining balance of national media rights fees , along with operating expenses , both related to the 2019-20 NBA and NHL seasons . Furthermore , the timing of the completion of the 2019 20 NBA and NHL seasons caused delayed starts to the 2020-21 seasons , resulting in no preseason games in the prior year first quarter as compared with two Rangers preseason home games during the current year period . For the fiscal 2022 first quarter , the Company generated revenues of $ 18.8 million , a decrease of $ 38.2 million , as compared to the prior year period . In addition , the Company had an operating loss of $ 34.9 million and an adjusted operating loss of $ 28.1 million , as compared to an operating loss of $ 27.4 million and an adjusted operating loss of $ 17.8 million in the prior year quarter . ( 1 ) Madison Square Garden Sports Corp. President and CEO Andrew Lustgarten said , " We're pleased that the Knicks ' and Rangers ' regular seasons are underway - with both teams playing with no capacity restrictions and a full slate of scheduled games . And while there continues to be some uncertainty due to the pandemic , we're encouraged by what we're seeing across several areas of our business , including season tickets , corporate hospitality and marketing partnerships . We believe our strong fundamentals , along with new meaningful opportunities like mobile sports gaming in New York , leave us well - positioned to generate long - term value for our shareholders . " Results from Operations Results for the three months ended September 30 , 2021 and 2020 are as follows : Three Months Ended September 30 , 2020 1 2021 $ $ Change $ millions Revenues Operating loss Adjusted operating loss ( ¹ ) Note : Does not foot due to rounding ( 1 ) See page 3 of this earnings release for the definition of adjusted operating income ( loss ) included in the discussion of non - GAAP financial measures . 18.8 $ ( 34.9 ) $ ( 28.1 ) $ $ 57.0 $ ( 38.2 ) ( 27.4 ) $ ( 7.5 ) ( 17.8 ) $ ( 10.4 ) % ( 67 ) % ( 27 ) % ( 58 ) %