• Loading stock data...
Sunday, April 21, 2024
  • -
    days
  • -
    hours
  • -
    minutes
  • -
    seconds

Drive Shack Reports Strong Q3, Debuts New Venture

  • Drive Shack posted $76.4 million in revenue in Q3 2021.
  • The golf company reported $66.5 million in revenue for the same period last year.
drive_shack_logo_on_ball_club
Drive Shack/Design: Alex Brooks

Drive Shack, owner of golf-related leisure and entertainment businesses, generated $76.4 million in revenue in Q3 2021, up from $66.5 million for the same period last year. 

The results were driven by American Golf, the company’s traditional golf business, which posted $65.1 million in revenue during the quarter, a jump from $60.3 million in Q3 2020.

Comprising Drive Shack and Puttery, Drive Shack’s entertainment golf business reported $11.3 million in revenue during the quarter.

Indoor golf experience Puttery debuted in Denton County, Texas, in September, with venues under development in Houston, Dallas, Charlotte, Miami, and Washington, D.C. 

The business received a major investment in July from four-time golf major champion Rory McIlroy and his investment group, Symphony Ventures, which has committed at least $10 million for 10% ownership of each Puttery venue that opens through 2023. 

The company’s strong earnings report is the result of a growing and diverse golf market.

  • Swingers, a high-end mini golf experience from the U.K., is opening in Washington, D.C., and New York after raising $20 million from Cain International.
  • Lamborghini and Indian EV maker Kinetic Green Energy are developing golf carts, with sales to start next year.

Drive Shack reported a net loss of $8.9 million in Q3 2021 compared to $9.4 million for the same period last year. 

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

Rockies Coach’s Team Plane Cockpit Visit Triggers Federal Investigation

A since-deleted video shows him sitting in the cockpit mid-flight.

Everything You Need to Know About the PGA Tour, LIV Golf, and Any Potential Merger

The two tours remain far apart despite previous efforts to come together.

Masters Making Way for PGA Tour, LIV Golf Stakeholders to Discuss Future

Augusta National has proved to be a pivotal meeting place for key figures.

A’s Reach Deal to Leave Oakland for Sacramento After This Year

The A’s will play in a minor league park starting in 2025.
podcast thumbnail mobile
Front Office Sports Today

Why Ian Rapoport Lives for the NFL Draft’s Chaos

0:00
0:00

Featured Today

Everything You Need To Know About the Legal Attempts To Kill the ACC

Four lawsuits involving the conference, Clemson, and FSU could determine the future.
April 20, 2024

A Bare-Knuckle Fighter Won His Pro Debut. The Far Right Scored a Marketing Win

With Proud Boys sponsoring him, experts say extremist groups will use his success to elevate their ideologies and recruit new believers.
April 7, 2024

Women’s Basketball Finally Has a TV Deal to Match the Excitement. Now What?

A lucrative new media-rights contract could rectify problems of the past, but the future of March Madness media rights is anyone’s guess.
Mar 16, 2024; Washington, D.C., USA; North Carolina State Wolfpack forward DJ Burns Jr. (30) cuts the net after defeating the North Carolina Tar Heels for the ACC Conference Championship at Capital One Arena.
April 6, 2024

How Two College Seniors Helped DJ Burns Cash In on a Final Four Run

Two college seniors are facilitating deals for NC State’s big man.

Careers

Powered By

Careers in Sports

Looking for a new job? Check out these featured listings and search for openings all over the world.
Live Nation
Multiple - USA Careers
Adidas
Multiple - USA Careers
FanDuel
Multiple - USA Careers

Ukraine’s Improbable Soccer Run Continues With Euros Qualification

The country reaches its first major soccer tournament since Russia’s invasion began.
March 4, 2024

FIA President Under Investigation for Alleged F1 Race Tinkering 

Mohammed Ben Sulayem is being scrutinized for his role in overturning a crucial penalty at F1’s 2023 Saudi Arabian Grand Prix. 
March 6, 2024

Super Bowl LVIII Scores Big With International Viewers

The NFL gets a 10% global boost compared to last year.
Sponsored

Rapid Returns: How Technology Is Getting You Back to Your Seat

How Oracle’s POS technology is helping fans get back to their seats faster.
February 29, 2024

Paris Games Gain Momentum With $2B Completion of Olympic Village

The $2.2 billion housing project finished on time and was essentially on budget.
Everton goalkeeper Jordan Pickford passes during the first half against the Everton.
February 26, 2024

Everton Financial Punishment Trimmed After Appeal Is Partially Successful

Everton’s appeal of the EPL’s 10-point punishment was reduced to a six-point loss.
Lionel Messi
February 23, 2024

Copa América Tickets Climb in Latest Lionel Messi Effect

Tickets for Argentina’s game in Miami are pushing five figures.
German protests
February 21, 2024

German Football League Abandons Outside Investment After Protests

Bundesliga rethinks $1 billion media rights plan.