MSGE - MSG Entertainment looks to sell its majority stake in Tao Group Hospitality

Madison Square Garden Entertainment ( NYSE: MSGE ) on Monday announced that it is is exploring a potential sale of its majority interest in Tao Group Hospitality.

"MSG Entertainment regularly evaluates ways to maximize shareholder value and believes that now is the appropriate time to explore a potential sale of its interest in Tao Group Hospitality. There is no assurance this exploration process will result in a transaction," the company said.

Since MSG Entertainment acquired its interest in 2017, Tao Group Hospitality expanded to more than 70 branded locations in over 20 markets across four continents, the company said.

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