Madison Square Garden Sports Corp. (MSGS) and Madison Square Garden Entertainment Corp. (MSGE) forged a multi-year marketing partnership with BetMGM, naming the sports betting and gaming entertainment company an Official Sports Betting Partner of the New York Knicks, New York Rangers, and Madison Square Garden Arena. Madison Square Garden Entertainment reported first-quarter FY22 revenue growth of 73 percent year-on-year to $294.5 million, beating the consensus of $281.2 million. Tao Group Hospitality segment generated revenues of $119.5 million versus $7.2 million last year. MSG Networks revenue declined 10 percent Y/Y to $141.5 million. Entertainment segment revenues surged from $7.6 million to $34.2 million Y/Y, reflecting various commercial arrangements with MSG Sports. The adjusted operating income rose 52 percent Y/Y to $10.3 million. EPS loss was $(2.55) versus $(1.06) last year. Madison Square Garden held $1.4 billion in cash and equivalents and used $2.3 million in operating cash flow. “With the first …