Madison Square Garden Entertainment
MSGE
Communication Services
5
exclusion reasons
3 themes
Madison Square Garden Entertainment is screened out under 5 exclusion reasons spanning 3 issue categories.
This page is part of our public exclusion list — a transparency tool that shows which companies we screen out and why. It is not investment advice, and it is not an accusation. It is a statement of values.
Madison Square Garden Entertainment operates the Garden Brothers Circus, a touring circus that uses live animals in its performances. The company’s business model includes the commercial exploitation of animals for entertainment, a core activity that falls under this exclusion category.
Publicly documented litigation and advocacy over the past decade, cited by animal rights organizations, have presented repeated evidence of animal welfare concerns associated with the circus. These include allegations of the use of equipment designed to control animals through force, such as flank straps, and documented instances of abuse. In 2017, a whistleblower report provided to PETA alleged animals were beaten and starved in connection with the Garden Bros. Circus.
While the company states it promotes animal welfare, the pattern of external allegations and legal challenges indicates ongoing commercial activity centered on animal exploitation for entertainment.
Deployed facial recognition system to identify and eject attorneys from law firms in active litigation against MSGE — a retaliatory surveillance application in commercial public venues targeting thousands of people for their professional associations rather than individual conduct.
Madison Square Garden Entertainment Corp. is excluded for its operation of a sand mining facility. The company’s subsidiary, MSG Sands, extracts industrial sand used in hydraulic fracturing (“fracking”) operations from a site in Wisconsin. This activity constitutes extraction of a non-fuel natural resource, placing it within the extractive industries category.
Available evidence regarding the scale, revenue contribution, or operational details of this mining activity is insufficient to detail its materiality to the company’s overall business. Further investigation is required to determine the subsidiary's output, the portion of company revenue derived from sand sales, or any related environmental compliance record.
Madison Square Garden Entertainment faces allegations of using its proprietary facial recognition technology to systematically identify and deny entry to attorneys who work at law firms engaged in litigation against the company. This practice, which the company has publicly defended, transforms a standard security tool into a mechanism for retaliating against legal adversaries by barring them from public events at its venues, including concerts and sports games. The New York State Attorney General has investigated the policy, citing concerns it may violate state civil rights laws by punishing individuals for their profession and association.
While the core allegation involves discrimination and potential civil rights violations, the business model of leveraging customer data and venue control to gain an upper hand in legal disputes represents a predatory financial practice. By imposing this barrier, MSG seeks to impose economic and professional costs on opposing counsel, potentially chilling legal representation and manipulating the litigation process to its financial benefit. This conduct aligns with financial misconduct through the strategic use of corporate assets to extract value and create disadvantage for unsophisticated counterparties—in this case, individual attorneys exercising their professional duties.
Madison Square Garden Entertainment is a live entertainment company that operates venues and produces events. Its core business involves ticket sales, venue operations, and entertainment production. The gathered evidence does not document any business activity involving the extension of credit, nor any revenue lines related to payday lending, title lending, high-interest installment loans, or similar financial services. There is no evidence of exploitative lending terms or targeting of vulnerable populations for financial products. The company's documented conduct involves legal disputes and regulatory actions unrelated to lending practices. Based on available information, Madison Square Garden Entertainment does not meet the criteria for exclusion under the predatory_lending category.
Research Sources
28 organizations
Related Exclusions
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Companies appear on our exclusion list based on our investment judgment — not because they've done anything illegal. This is a difference of values and opinion, not an accusation of wrongdoing. Exclusion does not constitute a recommendation against investing in any company, and absence from the list does not constitute a recommendation to invest.
This information is provided for educational and transparency purposes only and should not be relied upon as investment advice. Data is drawn from independent watchdogs, NGOs, government registries, and Ethical Capital's ongoing research — see Research Sources for the full list.
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