Seaport Entertainment Group Inc
ir.seaportentertainment.comWhat Do They Do?
Operates restaurants, concert and sports venues, and mixed-use properties that serve diners, eventgoers and tenants.
10-K for FY2025, filed Mar 4, 2026Seaport Entertainment was formed to own, operate and develop a unique collection of assets positioned at the intersection of entertainment…View ↗
The Seaport is a historic neighborhood in Lower Manhattan on the banks of the East River and within walking distance of the Brooklyn…View ↗
The Las Vegas Aviators are a Minor League Baseball (“MiLB”) team and the current Triple-A affiliate of the Athletics Major League Baseball…View ↗
Landlord Operations represents our ownership interests in, and operation of physical real estate assets located in the Seaport, a historic…View ↗
How Do They Make Money?
Entertainment revenue comes from tickets, event services, concessions and advertising or sponsorships; ticket payments are made in advance or on the event day, while sponsors pay under contract terms. Diners pay when food or drinks are served, and tenants pay rent monthly.
10-K for FY2025, filed Mar 4, 2026Entertainment revenue related to contracts with customers is generally comprised of baseball-related ticket sales, concert-related ticket…View ↗
Baseball-related and other advertising and sponsorship agreements allow third parties to display their advertising and products at the…View ↗
Hospitality revenue is generated by the Seaport restaurants and the Tin Building by Jean-Goerges (as defined below) through customer…View ↗
Minimum rent revenues are recognized on a straight-line basis over the terms of the related leases when collectability is reasonably…View ↗
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10-K for FY2025, filed Mar 4, 2026
FY2025 revenue by product or service ↗
$130.4M
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10-K for FY2025, filed Mar 4, 2026
$130.4M ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Hospitality
|
40%
FY2022: 36%
|
Hospitality, FY2025
$51.7M Sources
|
|
|
Entertainment
|
45%
FY2022: 47%
|
Entertainment, FY2025
$58.8M Sources
|
|
|
Rental revenue
Recurring
10-K for FY2025, filed Mar 4, 2026 |
14%
FY2022: 17%
|
Rental revenue, FY2025
$17.7M Sources
|
Recurring |
|
Other revenue
|
1.6%
FY2022: 0.8%
|
Other revenue, FY2025
$2.1M Sources
|
Who Are Their Customers?
Visitors buy meals, drinks, tickets and event services at its restaurants and venues; commercial tenants lease space in its Seaport properties.
10-K for FY2025, filed Mar 4, 2026Hospitality revenue is generated by the Seaport restaurants and the Tin Building by Jean-Goerges (as defined below) through customer…View ↗
Entertainment revenue related to contracts with customers is generally comprised of baseball-related ticket sales, concert-related ticket…View ↗
Rental revenue is associated with the Company’s Landlord Operations assets and is comprised of minimum rent, percentage rent in lieu of…View ↗
Do Revenues Turn Into Profits?
No. It lost $116.7M in FY2025.
10-K for FY2025, filed Mar 4, 2026
How Are They Changing?
- Net income
-
Sources
10-Q for Q2 FY2026, filed Aug 5, 2026
−$10.5MView ↗
- ▼ −29% (Loss)
- vs −$14.8M in Q2 FY2025
10-Q for Q2 FY2026, filed Aug 5, 2026
Open tableView ↗
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Apr 7, 2026
Replaced KPMG with Grant Thornton as independent auditor
The company said it had no disagreements with KPMG on accounting, disclosures or audit procedures.
Sources
8-K, filed Apr 7, 2026
On April 1, 2026, the Audit Committee (the “Audit Committee”) of the Board of Directors of Seaport Entertainment Group Inc. (the “Company”)…View ↗
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