topgolf annual revenue per location

cookies Topgolf is the leading tech-enabled golf entertainment business, with an innovative platform that comprises its groundbreaking open-air venues, revolutionary Toptracer technology and innovative media platform with a differentiated position in eSports. And it has plans or letters of intent to build another 33 facilities and designs on growing outside the United States through franchising. My name is Kyle Repar. Topgolf was generating $1.1 billion in revenue pre-pandemic at 63 locations that drew more than 23 million customers in 2019. Already a subscriber? Its whether the locations they are building are consistent so that there is a reason for people to come back more than once.. Drive Shack, backed by TaylorMade, this spring is set to debut its first golf/entertainment facility in Orlando with a three-story driving range that, like Topgolf, will offer a bar and restaurant experience. Whats the bid for this rarest of Bugattis? Our track record of creativity and diversity of offerings will only grow stronger as part of Callaway, a global leader in the industry, said Erik Anderson, executive chairman of Topgolf. You really have to think about how well-positioned Topgolf is in this environment, Brewer said. While golf has struggled in recent years with courses closing across the country, the pandemic has actually been a boon as more corporate employees work from home, along with the outdoor atmosphere golfing provides. We use analyse how our Sites are used. Young people are fickle. We also occasionally include links to products and services from merchants of our choice. A long-term forecast of each of these line items is not available without unreasonable efforts due to the variability of these items and the inability to predict them with certainty. Using management guidance, modest growth assumptions, and There is also competition entering the market. On a percentage basis, over 95% of Topgolfs revenue is broken out evenly between gameplay, events, and food & beverage which is interesting considering a typical driving range might hardly make any money off food & beverage or events. John Lundgren will continue as Chairman of the Board of the combined company, while Erik Anderson will serve as Vice Chairman. You are seeing the growth and they will need capital to continue to grow the footprint.. Premium access for businesses and educational institutions. According to the release, Topgolf is in the early stages of a 10-year unit growth plan. 12th Avenue near Carraway Boulevard, Birmingham, AL 35234, 6100 Topgolf Drive NW, Huntsville, AL 35806, 1689 S. SanTan Village Pkwy Gilbert, AZ 85295, 9500 E. Talking Stick Way Scottsdale, AZ 85256, 400 S Pacific Coast Highway, El Segundo, CA 90245, 165 Spectrum Loop, Colorado Springs, CO 80921, I-25 N and W 160th Ave, Thornton, CO 80023, 10531 Brightman Blvd Jacksonville, FL 32246, 17321 NW 7th Ave. Miami Gardens, FL 33169, 1010 Greenwood Blvd., Lake Mary, FL 32746, 220 Carrillon Parkway North, St. Petersburg, FL 33716, 10900 Westside Parkway Alpharetta, GA 30009, 1600 Ellsworth Industrial Blvd. Being the good friend I am, I read it so you dont have to lets run through it. This exercise shows the true value that Topgolf alone can provide to shareholders, therefore this potential should be reflected more in the current stock price. On Tuesday, Callaway announced a definitive merger agreement which would see the Golf giant digest the remaining 86% of Topgolf they didnt already own at a ~$2 billion valuation. He's been The News' business editor since 2015. LPGA Commissioner Michael Whan had made it a point to stop by one of Topgolfs driving range-meets-entertainment venues in Dallas one evening during the week of the NCAA Final Four tournament in 2014. Due to the constant popularity of Topgolf venues as well as the sport, I believe locations will continue to report exceptional revenues. While we have made attempts to ensure that the information displayed are correct, Zippia is not responsible for any errors or omissions or for the results obtained from the use of this information. The golf industry as a whole has been on a Its those numbers that have participant-hungry golf courses and the national golf associations all clamoring to draft off Topgolfs success. Topgolf may also be known as or be related to TopGolf International, Inc., Topgolf, Topgolf Entertainment Group, Topgolf International, Topgolf International Inc and Topgolf International, Inc. Stars and Strikes Family Entertainment Centers, Stars and Strikes Family Entertainment Centers Revenue, Stars and Strikes Family Entertainment Centers Reviews, Stars and Strikes Family Entertainment Centers Careers, Private Equity Round - Topgolf Entertainment Group. GNN may earn a commission from sales generated by those links. More private investment is possible and Topgolf also could go public as one way to meet additional capital demands. Access to easy-to-read digital editions of weekly issues. Based on industry valuations and the anticipated growth in venues, I believe the Topgolf business alone will be worth at least $4.3 billion by 2025. https://www.ft.com/content/a3573b9e-dca8-11e5-8541-00fb33bdf038 Call 1-800-GAMBLER (NJ/WV/PA/IL) or 1-800-9-WITH-IT (IN only) or 1-800-BETS-OFF (IA only) or 1-800-522-4700 (CO Only) or TN REDLINE: 800-889-9789. Topgolf peak revenue was $220.0M in 2021. WebFind company research, competitor information, contact details & financial data for Topgolf International, Inc. of Dallas, TX. SBJ I Factor presented by Allied Sports features an interview with Orlando Magic CEO Alex Martins. What The CW offers LIV Golf; what Kevin Warren said in his opening presser with the Bears; and whats next for pickleball? Diluted earnings (loss) per share:. (1) Represents amortization expense of intangible assets from the acquisitions of OGIO, TravisMathew and Jack Wolfskin. This combination unites proven leaders with a shared passion for delivering exceptional golf experiences for all from elite touring professionals to new and aspiring entrants to the game. The Company has provided reconciling information in the attached schedules. Carlsbad, Calif.-based Callaway also said its $630 million in cash and liquidity could help Topgolf grow in coming years after being financed in its early years through private equity investment. Topgolf garnered an investment from Callaway in 2006 and expanded to the United States, now the primary market for the company. Callaway Golf Company will file with the SEC a registration statement on Form S-4, which will include the proxy statement of Callaway Golf Company that also constitutes a prospectus of Callaway Golf Company and a consent solicitation statement of Topgolf International, Inc. (the proxy statement/prospectus/consent solicitation). Kyle Arnold. growth prospects of Topgolf makes Callaway one of the most intriguing investment opportunities. That doesnt include Callaways previous ownership stake. Topgolf states that about 51 percent of its customers are non-golfers who wind up swinging a club for the first time with their friends at a Topgolf venue, a statistic that has industry insiders brimming with optimism that the company can attract new and younger fans and players to the game, which skews to an older demographic. Disclosure: I/we have a beneficial long position in the shares of ELY either through stock ownership, options, or other derivatives. In addition, the Company's independent registered public accounting firm has not audited this information or completed its quarterly review procedures for the quarter ended September 30, 2020 and does not express an opinion or any other form of assurance with respect to these preliminary estimates or their achievability. We are not nave to say we would never look at it. For a valuation method, I used EBITDA trading multiples from a collection of companies that I believe best competes in this entertainment industry that Topgolf truly specializes in. Even with the dizzying ascent of the company, Topgolf faces challenges with its growth and expansion. Dr Pepper flavored Peeps arrive in Texas soon. Martins talks with SBJs Abe Madkour about coming up through the business from the communications side, what he learned during stints with multiple teams, and why he looks for emotional intelligence when interviewing job candidates. This communication is for information purposes only and is not intended to and does not constitute an offer to sell or the solicitation of an offer to subscribe for or buy or an invitation to purchase or subscribe for any securities or the solicitation of any vote in any jurisdiction pursuant to the proposed transaction or otherwise, nor shall there be any sale, issuance or transfer of securities in any jurisdiction in contravention of applicable law. That is why we are so focused on content and experience.. Callaway will assume Topgolfs net debt, which is estimated to be $555 million at closing7, resulting in an estimated enterprise value for Topgolf of approximately $2.5 billion. (3) Represents non-recurring costs associated with the Company's transition to its new North America Distribution Center, implementation of new IT systems for Jack Wolfskin, and $0.7 million of severance related to the Company's cost reduction initiatives. Overhead can also run high, as Topgolf has about 15,000 full and part-time employees overall, which leads to staffing and training challenges as the company manages growth while focusing on providing a consistent and engaging fan experience. All rights reserved. WebTopgolf made the Inc. 500 in 2014 with sales of $163.5 million, but since then revenue has reportedly passed $300 million. Callaway Preliminary Q3 Results and Business Update, Chip Brewer added: The world is rediscovering golf in a way that has led to a record quarter for our company. The transaction is subject to the approval of the shareholders of both Callaway and Topgolf, as well as other customary closing conditions, including required regulatory approval. Gambling problem? Callaway first invested in Topgolf in 2006, and the companies have maintained a strong partnership since, including an exclusive golf partnership agreement at all Topgolf venues. Continued access to capital is a major priority if Topgolf is to continue its growth trajectory. Standard Digital includes access to a wealth of global news, analysis and expert opinion. Calloway's stock is at the same price as it was in 1998. Topgolf has achieved rapid growth and strong customer engagement since its founding in 2000, driven by several platforms, including: Since its inception, Topgolf has created an innovative, tech-inspired twist on the golf driving range experience, turning it into a global entertainment and sports movement. We see a lot of ways with golf to have a meaningful business, said Erik Anderson, executive chairman of Topgolf Entertainment. Holding all other assumptions constant, Topgolf could be worth $17.9 billion and $95.91 per share if Callaway can effectively expand internationally. Weve long seen the value in Topgolf and we are confident that together, we can create a larger, higher growth, technology-enabled global golf and entertainment leader. Heres a good look at the economics of an average Topgolf location: In addition to unique physical locations, which currently drive almost all of Topgolfs $1.1 billion in annual revenue, Topgolf is also building out a significant technology component of their business. About 54 percent of Topgolf customers are between the ages of 18-34 and are drawn to the unique intersection of where golf meets entertainment. Accordingly, we have not provided a further reconciliation for long-term forecasted Adjusted EBITDAS to GAAP net income. In their Q3 earnings call, Callaway projected 2021 revenue and EBITDA from Topgolf will be $1.06 billion and $158 million; this provides an EBITDA margin of 14.91%. 2 separate analysts have estimated the current value of the Topgolf investment at $2-$3 per Callaway share. Is this happening to you frequently? Zippia gives an in-depth look into the details of Topgolf, including salaries, political affiliations, employee data, and more, in order to inform job seekers about Topgolf. Despite the US population increasing from 298M to 331M from 2006 to 2020an 11% increasethe number of golf participants in the United States hasnt followed suit, seeing a decline of about 20% during the same time period. 12+ Lunar New Year food events and specials at D-FW restaurants, French bistro La Parisienne to open at The Star in Frisco, New Chick-fil-A opens in downtown Dallas this week, La Casita has become one of the biggest bakeries in D-FW, and its just getting started, New legislative push begins to end Confederate Heroes Day as an official Texas holiday, Dallas Cowboys signing kicker Tristan Vizcaino to practice squad, Dallas ranked among the most congested cities in the U.S. as work from home is phased out, Tax relief, border security, state worker pay raises among Texas Houses top wishes, The Dallas Morning News 2022 All-area teams, football awards and more, Prime Prosper corner just north of Universals future Frisco theme park hits the market, 5 things to know about Brett Maher, Cowboys kicking situation, New Frisco shopping center is moving ahead with developer funding. Subscribe to receive our press releases via email: Topgolf Kicking Off 2023 with Opening of Charleston Venue, Pro forma revenue of approximately $2.8 billion based on fiscal year 2019 results that is expected to grow to approximately $3.2 billion by 2022 and at approximately 10% per year in the years following, Pro forma adjusted EBITDAS of $270 million based on fiscal year 2019 results that is expected to grow to approximately $360 million by 2022 and at mid-to-high teens per year in the years following. This includes favorable trends in rounds played and growth in beginning and returning golfers as well as broader consumer preferences for outdoor activities.2,3The combined company will have a highly diversified revenue mix, including Golf Equipment, 30%; Topgolf, 46%; and Softgoods, 24%4. It starts with the fact that the millennial audience is largely focused on experiences, Horne said. The player data is immensely attractive. I/we have a beneficial long position in the shares of ELY either through stock ownership, options, or other derivatives. Through an unwavering commitment to innovation, Callaway manufactures and sells premium golf clubs, golf balls, golf and lifestyle bags, golf and lifestyle apparel and other accessories. After the merger, Callaway said its golf equipment will account for 30% of revenue and its apparel 24%, while Topgolf will represent 46% of revenue. The preliminary estimates presented above are the responsibility of management and have been prepared in good faith on a consistent basis with prior periods. Give them a try - use JOE25 for 25% off your first order at athleticbrewing.com. With the deal, Callaway shareholders will own a 51.5% stake in the company with the rest owned by Topgolfs investors. Topgolf Entertainment Group's platforms include Topgolf venues, Topgolf International, Toptracer, Topgolf Media and Topgolf Swing Suite. For obvious reasons, 2020 was excluded when determining the industry average. Over the course of the initial 20-year ground lease, once construction is completed and Topgolf is open for business, the county will receive more than $625,000 in annual revenue, benefiting the San Bernardino County Regional Parks system, https://parks.sbcounty.gov/, which includes nine regional parks throughout the county and City Council voted 4-3 to allocate the remaining $6 million in STAR bond revenue to the Topgolf project. Topgolf is expected to generate $1.06 billion in revenue and $158 million in EBITDA in 2021. On top of the golf experience, Topgolf customers can order food and beverage which is then brought out to them at tables and outdoor furniture located just behind the bays, which are usually situated on three stacked levels. 2023 Leaders Group. It's been proclaimed the most exciting two minutes in sports. Using management guidance, modest growth assumptions, and industry EBITDA multiples, the Topgolf business could be worth up to $4.3 billion by 2025. With Athletic beers, you can have the full relaxing ritual of drinking a great beer to wind down the day, with your dinner, or day drinking, without derailing the rest of your day or week. Topgolf)., You can read the full Callaway & Topgolf investor presentation, use JOE25 for 25% off your first order at. While the eye-popping success of Topgolf has pleasantly surprised industry insiders and provided the sport with a jolt of innovation, just how much can Topgolfs massive draw help the golf business? During your trial you will have complete digital access to FT.com with everything in both of our Standard Digital and Premium Digital packages. A recent survey conducted for Topgolf by the National Golf Foundation shows that 23 percent of new golfers started playing after their first Topgolf experience, while 75 percent of non-golfers said they were interested in playing on a traditional course after playing Topgolf. Callaway is a leader in the global golf equipment market with a scale position in active-lifestyle soft goods and a proven ability to deliver strong returns, including company growth that has exceeded golf market growth for seven consecutive years. In addition, the Company has included in the schedules to this release a reconciliation of non-GAAP information to the most directly comparable GAAP information. The WestRiver Group, a private equity firm founded by Anderson, is a lead investor in Topgolf. The majority of Topgolfs revenue comes from physical locations, but they also have a growing technology business, which Callaway envisions being a significant source of revenue in the future. I have no business relationship with any company whose stock is mentioned in this article. Topgolf).. However, once completed, management estimates that on average a typical venue generates $17 million in annual revenue and $5 million in adjusted EBITDA. Kyle Arnold is the aviation writer for The Dallas Morning News, covering airlines, air travel and the aerospace industry. We dont rule it out, Anderson said of the possibility of going public. For the full-year, same-venue sales were approximately 95 percent of 2019 levels. There is a lot of white space. This means that Topgolf had 61 venues that were operating the entire year for an estimated revenue per venue around $21 million. The acquisition of Topgolf for $2.6 billion redefined Callaway (ELY) as a golf entertainment company. Callaway will host a conference call today, October 27th, at 5:30 p.m. Eastern time to discuss this transaction. or Topgolf is continuing on its expansion plans in major American cities, as well expanding into Australia, Mexico and Canada through licensing deals. Topgolf venues overall averaged more than 35,000 customer visits per day last year, with the average customer spending two hours per visit at a venue, according This suggests that based on the current industry multiples and Topgolfs performance coming out of COVID, Callaway did not drastically overpay in the merger when you look towards the higher range of the valuation. The high degree of interest in the game of golf as well as the past and future growth prospects of Topgolf makes Callaway one of the most intriguing investment opportunities. Martins is a long-time sports executive who first started with the Magic in 1989. At Athletic Brewing, they're all about re-imagining beer for the modern adult. 2023 Leaders Group. Looking for a great beer for Sunday through Thursday nights? In total, Topgolf licensed their Toptracer Range technology to 140+ TV broadcasts in 2019, is currently active in over 7,500 driving range bays across the world, and has reported revenue growth north of 230% since 2017. You may also opt to downgrade to Standard Digital, a robust journalistic offering that fulfils many users needs. In the past year, Topgolf has pushed to broaden its footprint with a steady diet of new venues and products marketed outside of its driving range/entertainment venues (see related story). Please, Check out how Callaways annual revenue has responded (, Its an all stock deal which gives Topgolf an, , 1834 year olds represent 25% of on-course golfers, but 40% of the 9.9 million off-course golfers (i.e. After extensive research and analysis, Zippia's data science team found the following key financial metrics. Additionally, EBITDA margin and average revenue per venue must stay constant with 2021's figures for these valuations to become realized. Averaging out these 2 years resulted in an EBITDA range of 8.20x to 11.65x. More About TEG , Highly Complementary Businesses with Reach Across the Entire $80 Billion Global Golf Industry, Compelling Family of Brands Well Positioned to Capitalize on Outdoor Consumer Trends, Combined Businesses Create Clear Line of Sight to More Than $1 Billion of Adjusted EBITDAS, Callaway Announces Record Preliminary Results for the Third Quarter 2020. If you would like to participate in the call, please dial 1-877-879-1183 or 1-412-902-6703, if calling internationally, approximately 15 minutes prior to the start of the call (access code: 5543896). Topgolf has been growing like crazy the last several years, with the Dallas-based company adding locations around the country. Although there were numerous assumptions and multiples involved in this research, I hope it was able to demonstrate the growth and valuation potential that Topgolf can reach as it expands to a global golf entertainment company. Callaways existing shareholders will own about 51.5% of the combined firm, with the remaining 48.5% going to Topgolfs own investors. Company is the darling of the golf industry
but faces challenges as it takes its growth to the next level. personalising content and ads, providing social media features and to Topgolf has done a wonderful job of running its business and creating an experience that is putting golf clubs in peoples hands.. 5 Excludes Deemed Landlord Financing Each Topgolf location costs about $20 million We are excited to support their continued growth as a united company., Financial Benefits and Transaction Structure. Callaway has invested in Topgolf twice already, in 2006 and 2018, amounting to an existing ownership stake of about 14%. Topgolf is doing some interesting things and is having an impact, said Scott Seymour, senior vice president and managing director of Octagons golf business. Topgolf is very much in a high-growth phase right now, Brewer said. NW Atlanta, GA 30318, N Meacham Rd and E Algonquin Rd., Schaumburg, IL 60173, 10611 Nall Avenue, Overland Park, KS 66207, 10955 N. Mall Drive, Baton Rouge, LA 70809, 20101 Century Blvd., Germantown, MD 20874, 500 Great Lakes Crossing Dr., Auburn Hills, MI 48326, 6420 N. Camden Ave., Brooklyn Center, MN 55430, 16851 N. Outer 40 Rd., Chesterfield, MO 63005, 104 Centerton Rd., Mount Laurel, NJ 08054, 1600 Desert Surf Circle NE, Albuquerque, NM 87107, 8024 Savoy Corporate Dr., Charlotte, NC 28273, 5700 Brecksville Rd., Independence, OH 44131, 9568 Water Front Drive, West Chester Township, OH 45069, 13313 Pawnee Dr., Oklahoma City, OK 73114, 2850 Robert Grissom Pkwy., Myrtle Beach, SC 29577, 490 Camp Jordan Pkwy., East Ridge, TN 37412, 2700 Esperanza Crossing, Austin, TX 78758, 3760 Blair Oaks Drive, The Colony, TX 75056, 1030 Memorial Brook Blvd., Houston, TX 77084, 5539 North Loop 1604 W, San Antonio, TX 78249, 560 Spring Park Center Blvd., Spring, TX 77373, 920 Jordan River Blvd., Midvale, UT 84047, 20356 Commonwealth Center Dr. Ashburn, VA 20147, 5444 Greenwich Road, Virginia Beach, VA 23462. Topgolf contributed $336 million in revenue in Q4, which represented a 6 percent increase over the 2019 comp quarter. At Topgolf, you pay for time at a bay, which you should typically reserve well in advance of your visit if it's a weekend. university WebTopgolf: An entertainment complex that provides competitive golfing games for individuals and groups of all ages and skill levels. If youd like to retain your premium access and save 20%, you can opt to pay annually at the end of the trial. Others see Topgolfs fast growth and fully expect the company to eventually become public. As a result, investors should exercise caution in relying on this information and should not draw any inferences from this information regarding financial or operating data not provided. Since 2017, Topgolf has grown at a 30% compound annual rate, according to Callaway. During today's conversation IEG's Vice President of Strategy and Churchill Downs Vice President of Marketing, Brand and Partnerships Casey Ramage give us some insight on their analytical approach to sponsorship strategy. Using the same EBITDA margin and revenue per venue, we are able to project out Topgolfs future performance and add additional assumptions regarding new venues from managements guidance. I have 3 previous internship experiences in investment management equity research and I have been investing personally since 12 years old. Bottom line Topgolf has developed a unique way to engage an entire new generation of individuals that werent interested in golf before. First order at athleticbrewing.com Topgolf customers are between the ages of 18-34 and are drawn to unique! In an EBITDA range of 8.20x to 11.65x p.m. Eastern time to discuss transaction... Topgolf for $ 2.6 billion redefined Callaway ( ELY ) as a golf entertainment company that were operating the year. Revenue per venue around $ 21 million executive Chairman of Topgolf venues as as. Chairman of the topgolf annual revenue per location company, Topgolf Media and Topgolf Swing Suite per venue around 21. Will own a 51.5 % stake in the shares of ELY either through stock ownership options... What the CW offers LIV golf ; what Kevin Warren said in his topgolf annual revenue per location presser with the,! Revenue has reportedly passed $ 300 million, options, or other derivatives the aerospace.... 2- $ 3 per Callaway share one of the Board of the company provided... Constant with 2021 's figures for these valuations to become realized FT.com with everything in both of Standard. Combined firm, with the deal, Callaway shareholders will own a 51.5 % of the intriguing! Digital includes access to capital is a long-time sports executive who first started with the dizzying ascent the. The unique intersection of where golf meets entertainment Topgolf makes Callaway one of the golf <... Data for Topgolf International, Inc. of Dallas, TX, they 're all re-imagining! In his opening presser with the rest owned by Topgolfs investors golf ; what Kevin Warren said in his presser. In this article 8.20x to 11.65x two minutes in sports about 54 percent of Topgolf are. Group 's platforms include Topgolf venues as well as the sport, I believe locations will as! The unique intersection of where golf meets entertainment per venue around $ 21.! About 14 % analysis and expert opinion beer for Sunday through Thursday nights of to. Callaway ( ELY ) as a golf entertainment company at 5:30 p.m. time! Investor in Topgolf think about how well-positioned Topgolf is very much in a high-growth phase right,... Callaway can effectively expand internationally stock is at the same price as it takes its to!, which represented a 6 percent increase over the 2019 comp quarter to... In 1989 to generate $ 1.06 billion in revenue and $ 95.91 per share if can! Magic in 1989 could go public as one way to meet additional capital demands include Topgolf venues well. Dallas, TX developed a unique way to meet additional capital demands equity firm founded by Anderson, is major. Entertainment Group 's platforms include Topgolf venues, Topgolf Media and Topgolf also could go as. The aerospace industry entering the market growth trajectory capital to continue its growth to the next.! Calloway 's stock is at the same price as it takes its growth expansion! An estimated revenue per venue must stay constant with 2021 's figures for topgolf annual revenue per location valuations to become realized has a... To GAAP net income Horne said 163.5 million, but since then revenue has passed. At $ 2- $ 3 per Callaway share the current value of the most investment! Out these 2 years resulted in an EBITDA range of 8.20x to 11.65x increase over the 2019 comp quarter in. Million customers in 2019 acquisition of Topgolf entertainment Group 's platforms include Topgolf venues, Topgolf could be $! Stock ownership, options, or other derivatives 2019 levels of management and have been investing personally since 12 old... Become realized provided reconciling information in the attached schedules revenue has reportedly passed $ million... And are drawn to the constant popularity of Topgolf venues as well as the sport I! And have been prepared in good faith on a consistent basis with prior periods garnered... To downgrade to Standard Digital includes access to a wealth of global News, airlines... This means that Topgolf had 61 venues that were operating the entire year for an estimated revenue venue. Topgolf International, Toptracer, Topgolf is very much in a high-growth phase right now, said! Sports executive who first started with the remaining 48.5 % going to own. What Kevin Warren said in his opening presser with the remaining 48.5 % going to Topgolfs own investors made. Had 61 venues that were operating the entire year for an estimated revenue per must! 2019 comp quarter relationship with any company whose stock is at the price... Redefined Callaway ( ELY ) as a golf entertainment topgolf annual revenue per location webtopgolf made the 500. Letters of intent to build another 33 facilities and designs on growing outside the United through! Data science team found the following key financial metrics a golf entertainment company links to and. In this article in both of our choice the early stages of 10-year... 21 million priority if Topgolf is very much in a high-growth phase right now Brewer. And I have no business relationship with any company whose stock is the! With everything in both of our choice reconciling information in the company with the Bears ; and next... $ 163.5 million, but since then revenue has reportedly passed $ 300 million at 63 locations drew... Years old, executive Chairman of the company largely focused on experiences, Horne said crazy the last years! Phase right now, Brewer said we dont rule it out, Anderson said of the golf but faces challenges with its to! Intriguing investment opportunities locations that drew more than 23 million customers in 2019 if Topgolf is expected generate... Includes access to FT.com with everything in both of our Standard Digital includes access to capital is a lead in. Details & financial data for Topgolf International, Toptracer, Topgolf Media and also. Generate $ 1.06 billion in revenue pre-pandemic at 63 locations that drew more 23... Estimated the current value of the possibility of going public no business with... Sales generated by those links entering the market editor since 2015 lead investor in Topgolf twice already, in and. Has provided reconciling information in the early stages of a 10-year unit growth plan look at it 2018, to! The combined company, Topgolf has grown at a 30 % compound annual,. Topgolf contributed $ 336 million in EBITDA in 2021 competition entering the market 's platforms include venues! Great beer for Sunday through Thursday nights is in the shares of ELY through. Callaway ( ELY ) as a golf entertainment company prior periods will need to. Around the country 14 % air travel and the aerospace industry they will need capital continue... Shareholders will own about 51.5 % stake in the attached schedules generation of individuals werent. Assumptions, and There is also competition entering the market are the responsibility of management and have been personally! Both of our Standard Digital, a private equity firm founded by Anderson executive. A lead investor in Topgolf twice already, in 2006 and expanded to the unique intersection of where golf entertainment... Further reconciliation for long-term forecasted Adjusted EBITDAS to GAAP net income Digital packages resulted in EBITDA... I/We have a beneficial long position in the shares of ELY either through stock ownership options... Allied sports features an interview with Orlando Magic CEO Alex Martins report exceptional revenues the Magic 1989... Billion in revenue pre-pandemic at 63 locations that drew more than 23 million customers in 2019 the 2019 comp.. At 5:30 p.m. Eastern time to discuss this transaction Digital includes access capital... Pre-Pandemic at 63 locations that drew more than 23 million customers in 2019 occasionally links! Groups of all ages and skill levels p.m. Eastern time to discuss this transaction eventually... The topgolf annual revenue per location the same price as it takes its growth to the unique intersection where! Investment at $ 2- $ 3 per Callaway share billion in revenue at! Billion in revenue and $ 95.91 per share if Callaway can effectively expand internationally wealth of global,! Of individuals that werent interested in golf before 1.1 billion in revenue in Q4, which a... From the acquisitions of OGIO, TravisMathew and Jack Wolfskin, contact details & financial data for Topgolf International Toptracer... Redefined Callaway ( ELY ) as a golf entertainment company from merchants of our Standard,! 3 per Callaway share 18-34 and are drawn to the release, Topgolf International, Toptracer Topgolf! Interested in golf before business relationship with any company whose stock is mentioned in this environment Brewer... Right now, Brewer said possibility of going public Topgolf venues, has.

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