Ariel’s Rogers Bets On NYC Rebound With Madison Square Garden
- Rogers sees the stock trading at a discount of more than 50%
- He says it’s trading for less than MSG real estate, air rights
John Rogers
Photographer: Christopher Goodney/BloombergThis article is for subscribers only.
Ariel Investments founder John Rogers said he’s betting New York’s hottest entertainment hubs will rebound from the Covid-19 pandemic -- one of the reasons his firm bought shares of Madison Square Garden Entertainment Corp.
“It’s an iconic brand,” Rogers said Friday in a Bloomberg Television interview. “As the delta variant eventually ends, people will be back in the Garden watching the Rangers, watching the Knicks, going to concerts. It’s going to be an extraordinary business.”