Madison Square Garden Entertainment Corp. (NYSE:MSGE) changes state of incorporation from Delaware to Nevada after shareholder approval. The move to Nevada is expected to save the company nearly $250,000 in franchise taxes previously paid to Delaware.

The company believes Nevada offers predictability and certainty in decision-making, reducing the risk of lawsuits and providing flexibility for corporate transactions. Shareholders were not required to exchange stock certificates, and operations and management remain unaffected by the change.

Madison Square Garden Entertainment Corp. (NYSE:MSGE) is known for its portfolio of venues including Madison Square Garden, Radio City Music Hall, and The Chicago Theatre. The company held a special meeting of stockholders on June 9 to approve the change in state of incorporation.

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Read more at Yahoo Finance: MSGE Changes State of Incorporation to Nevada