Revenue potential from The Sphere, Las Vegas project may be getting overlooked by the market.
of MSG Entertainment , and renamed itself MSG Sports . Investors say that the spinoff has created a big opportunity.
“Long-term, these are great stocks with enormous value,” says Jim Osman, CEO of The Edge Consulting Group, who doesn’t own direct stakes in either stock. At current market prices, he says MSGS is trading at about a 30% discount to its net asset-based valuation, while MSGE is trading at a nearly 50% discount.
Analysts say the venue is a smart play on e-sports that could be profitable for both entities; the Sphere is expected to capitalize on this growing trend of virtual entertainment—where spectators pay to watch live video game events remotely.
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