https://www.sportsbusinessjournal.com/Journal/Issues/2018/04/02/In-Depth/Topgolf.aspx. Accordingly, we have not provided a further reconciliation for long-term forecasted Adjusted EBITDAS to GAAP net income. 49 print issues delivered to your home or office. Topgolf is expected to generate $1.06 billion in revenue and $158 million in EBITDA in 2021. In a statement, the House Ways and Means chair explained As Topgolf continues to expand, all eyes will be on whether Topgolf can play a major role in developing a new generation of golfers and enthusiasts of the game. 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. Paul O'Donnell, Business Editor. Furthermore, Topgolf will have 70 venues by the end of 2021 with a total of 9 net new venues opened throughout the duration of the year. More than half of Topgolfs customers identify themselves as non-golfers, giving Callaway early exposure to potential golfers. 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. Gambling problem? While the company is expanding, it lacks a large presence in the Northeast and in Southern California, with no current facilities in Los Angeles or San Diego. See our list below of Topgolf locations currently open, coming soon (under construction) and rumored. Time for a thread , This site requires JavaScript to run correctly. Get the latest headlines delivered to your inbox every weekday. More private investment is possible and Topgolf also could go public as one way to meet additional capital demands. 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. That doesnt include Callaways previous ownership stake. All rights reserved. John Lundgren will continue as Chairman of the Board of the combined company, while Erik Anderson will serve as Vice Chairman. The non-GAAP information may also be inconsistent with the manner in which similar measures are derived or used by other companies. The average Topgolf hourly pay ranges from approximately $15 per hour for a Bay Host to $133 per hour for a Maintenance Associate. Topgolf employees rate the overall compensation and benefits package 3.5/5 stars. Under the terms of the agreement, Callaway and Topgolf will combine in an all-stock transaction creating a global golf and entertainment leader. However, the Company has not completed its financial closing procedures for the three months ended September 30, 2020, and its actual results could vary materially from these preliminary estimates. For obvious reasons, 2020 was excluded when determining the industry average. We dont rule it out, Anderson said of the possibility of going public. All of us are looking forward to building new experiences, reaching new audiences and solidifying our digital infrastructure as we connect communities around the globe., In addition to Callaway, the current Topgolf ownership includes Providence Equity Partners, WestRiver Group and Dundon Capital Partners, which added: This is a natural combination that brings together two complementary businesses at the center of one of the most dynamic sports and entertainment experiences available today. People come back, it is a meaningful repeat business, he said. Another literal connective effort is Topgolfs latest plan to build a new venue on the site of a West Palm Beach, Fla., public golf course. I am not receiving compensation for it (other than from Seeking Alpha). I wrote this article myself, and it expresses my own opinions. The GAAP results contained in this press release have been prepared in accordance with accounting principles generally accepted in the United States ("GAAP"). 2 National Golf Foundation, August Rounds Play, Published September 2020 Topgolf International's annual revenues are over $500 million (see exact revenue data) and has over 1,000 employees. ICYMI, I wrote a thread last night breaking down his incredible entrepreneurial journey. All rights reserved.The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of Leaders Group. If you do nothing, you will be auto-enrolled in our premium digital monthly subscription plan and retain complete access for 65 per month. 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. Due to the constant popularity of Topgolf venues as well as the sport, I believe locations will continue to report exceptional revenues. Topgolf is a growing and potentially large business that Callaway appears to have acquired at a good price, but thats only part of the equation. 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. It is classified as operating in the Arts, Topgolf).. Management uses such non-GAAP information for financial and operational decision-making purposes and as a means to evaluate period-over-period comparisons and in forecasting the Company's business going forward. (1) In 2020, amounts represent certain non-recurring costs, including costs associated with the Company's transition to its new North America Distribution Center and the implementation of new IT systems for Jack Wolfskin, as well as $0.7 million of severance related to the Company's cost reduction initiatives. 3 Morning Consult Polling, Published July 21, 2020 Any environment where individuals are swinging golf clubs is terrific, said Sarah Hirshland, senior managing director of business affairs for the USGA, which last year partnered with Topgolf to hold U.S. Open watch parties at all Topgolf venues. It is something that the game hasnt seen in a while.. Callaway has invested in Topgolf twice already, in 2006 and 2018, amounting to an existing ownership stake of about 14%. Topgolf revenue is $220.0M annually. Attention spans scatter. The player data is immensely attractive. Topgolf also hires PGA professionals as instructors at Topgolf venues, while the PGA Tour and the LPGA co-promote with Topgolf by holding sponsor and media activities at Topgolf venues. Remaining privately-owned during those two decades, the company built locations in every region of the country. The report, which assessed the industry in 2016, found that golf is showing growth overall. During the course of the preparation of the Company's consolidated financial statements and related notes as of and for the three months ended September 30, 2020, the Company and its auditors may identify items that would require the Company to make material adjustments to the preliminary estimates presented above. WebFind company research, competitor information, contact details & financial data for Topgolf International, Inc. of Dallas, TX. My name is Kyle Repar. personalising content and ads, providing social media features and to He previously worked as a business journalist for the Orlando Sentinel, Tulsa World and The Monitor in McAllen. Callaway projects the combined companys revenue will be $2.8 billion, based on fiscal year 2019 results. The company asked the city for $2.6 million in Apart from Callaways previous 14% share in the golf-entertainment business, Topgolf also had major ownership stakes from Providence Equity Partners, WestRiver Group and Dundon Capital Partners, the Dallas-based investment arm of Carolina Hurricanes owner Tom Dundon. If you've never been to a Topgolf, it's basically the golf version of a bowling alley. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. 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. growth prospects of Topgolf makes Callaway one of the most intriguing investment opportunities. For more information please visit www.callawaygolf.com, www.odysseygolf.com, www.OGIO.com, www.travismathew.com, and www.jack-wolfskin.com. The deal ends a 20-year journey as a private company for Topgolf, a concept that started in the United Kingdom to create a new experience in a golf game thats struggled in recent years. Any changes made can be done at any time and will become effective at the end of the trial period, allowing you to retain full access for 4 weeks, even if you downgrade or cancel. What is exciting is the belief that they can be LPGA viewers or on-site fans. (4) Represents certain non-recurring costs, including costs associated with the acquisition of Jack Wolfskin. 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. MEMBERSHIP TERMS: If you choose a Lifetime Membership, you will pay a one-time charge of $5.00 where applicable, and you will be subject to the Terms and Conditions contained in this Agreement. Secondly, can Topgolf look up your membership? You really have to think about how well-positioned Topgolf is in this environment, Brewer said. The number of shares issued is also based upon a fixed price of Callaway common stock of $19.40 per share. He has been CEO since 2011, and was instrumental in the Amway Center winning a Sports Business Award for Facility of the Year in 2012. Topgolf is expected to generate $1.06 billion in revenue and $158 million in EBITDA in 2021. 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. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. You have to continue to reinvest in the experience.. GNN may earn a commission from sales generated by those links. Webguidance to $424 to $430 million as golf equipment and apparel revenue and Topgolf venue profitability continue to outperform prior expectations Earnings Per Share - diluted $0.14 $0.61 $(0.47) $1.01 $0.99 $0.02 one additional planned location expected to open in the fourth quarter of 2021 Such forward-looking statements include, but are not limited to, statements about the benefits of the business combination transaction involving Callaway and Topgolf, including the anticipated operations, financial position, liquidity, performance, prospects or growth and scale opportunities of Callaway, Topgolf or the combined company, the strategies, prospects, plans, expectations or objectives of management of Callaway or Topgolf for future operations of the combined company, any statements regarding the approval and closing of the merger, including the need for stockholder approval and the satisfaction of closing conditions, and statements of belief and any statement of assumptions underlying any of the foregoing. Register for a free SBJ account to unlock one extra article per month. Callaway will host a conference call today, October 27th, at 5:30 p.m. Eastern time to discuss this transaction. Topgolf contributed $336 million in revenue in Q4, which represented a 6 percent increase over the 2019 comp quarter. 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. You can read the full Callaway & Topgolf investor presentation here. (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. Callaways continued strong cash generation and ample liquidity, including more than $630 million of cash and available credit facilities as of Q3 2020, position the company to fund Topgolfs continued growth with significant ability to pay down debt at the same time. With the deal, Callaway shareholders will own a 51.5% stake in the company with the rest owned by Topgolfs investors. If you would like to receive it directly in your inbox, subscribe now. The company has a proven ability to innovate to expand its addressable market and capture the potential of games and content on its interconnected platform. Simply log into Settings & Account and select "Cancel" on the right-hand side. His family bootstrapped their business from their basement to an $8 billion acquisition, turning down $500M cash in the process. Check if your Non-recurring costs and non-cash charges, before taxes (1). Topgolf was generating $1.1 billion in revenue pre-pandemic at 63 locations that drew more than 23 million customers in 2019. Paul directs the work of an award-winning staff covering business news in the nation's fourth largest metro region. Management believes that the presentation of such non-GAAP information, when considered in conjunction with the most directly comparable GAAP information, provides additional useful comparative information for investors in their assessment of the underlying performance of the Company's business with regard to these items. The companies together will be able to accelerate growth, including through: Together, Callaway and Topgolf create an unrivaled golf and entertainment business, said Chip Brewer, President and Chief Executive Officer of Callaway. The data on this page is also based on data sources collected from public and open data sources on the Internet and other locations, as well as proprietary data we licensed from other companies. (760) 931-1771 Since 2017, Topgolf has grown at a 30% compound annual rate, according to Callaway. 1 Golf Datatech industry report published September 21, 2020 Sometimes we post sponsored content from this account, and it is labeled as such. This valuation projection assumes that Callaway commits to and has the free cash flow available to invest in the future growth of Topgolf venues. City Council voted 4-3 to allocate the remaining $6 million in STAR bond revenue to the Topgolf project. 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. 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. (2) Represents the non-cash amortization of the debt discount on the convertible notes issued in May 2020. 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. We see a lot of ways with golf to have a meaningful business, said Erik Anderson, executive chairman of Topgolf Entertainment. Topgolfs venue revenue has now rebounded to about 85% of pre-pandemic levels and all of the companys locations have reopened. We are the subject of inquiries from the capital market world and our investors would look at it as a way to grow the company and get liquidity. It's been proclaimed the most exciting two minutes in sports. 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. Callaway is issuing about 90M shares to facilitate the merger stock is down about 20% in response. 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. Topgolfs ball-tracing technology is seen on televised golf broadcasts and its mobile golf game, World Golf Tour, boasts 28 million members. Itll be fun to see how creative Callaway gets in an attempt to funnel recreational driving range visitors into legitimate customers for their existing brand. For Callaway: Non-GAAP Reconciliation and Supplemental Financial Information, Non-recurring and non-cash charges, before taxes(1). Before that, he was editor-in-chief at the Dallas Business Journal and business editor at the Cleveland Plain Dealer. Kara Barry The acquisition of Topgolf for $2.6 billion redefined Callaway (ELY) as a golf entertainment company. CARLSBAD, CA and DALLAS, TX October 27, 2020 Callaway (NYSE:ELY) and Topgolf Entertainment Group (Topgolf) today announced that the companies have entered into a definitive merger agreement. Topgolf is broadening and deepening and driving a younger demographic to be aware of golf, said Andy Pierce, global president of golf and consulting for Lagardre Sports and Entertainment. Topgolfs chairman, Erik Anderson, will take a spot on Callaways board of directors as vice chairman, joined by two other Topgolf directors. Topgolf, in addition to tapping into golf as a property, has seen their growth based in providing great experiences both in their venues and outside.. Every morning I write an email discussing the business and money behind sports. It starts with the fact that the millennial audience is largely focused on experiences, Horne said. Premium access for businesses and educational institutions. 4 Based on 2022 projections Last year, Topgolf had a massive 13 million customer visits and that number is expected to continue growing rapidly through an aggressive expansion strategy that includes plans to open between seven and 10 new venues annually for the foreseeable future both in the U.S. and overseas. Topgolf will continue to operate from its headquarters in Dallas, Texas. Bottom line Topgolf has developed a unique way to engage an entire new generation of individuals that werent interested in golf before. See insights on TopGolf including office locations, competitors, revenue, financials, executives, subsidiaries and more at Craft. 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). Any time you have a business that requires that kind of capital investment and real estate, you have to be creative in what is the model for capital maintenance, Hirshland said. 2023 Leaders Group. INVESTORS AND STOCKHOLDERS ARE URGED TO CAREFULLY READ THE PROXY STATEMENT/PROSPECTUS/ CONSENT SOLICITATION, AND OTHER RELEVANT DOCUMENTS TO BE FILED WITH THE SEC, IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT CALLAWAY GOLF COMPANY, TOPGOLF INTERNATIONAL, INC., THE PROPOSED TRANSACTION AND RELATED MATTERS. The combined company will also benefit from a strong financial profile, including: Topgolf is in the early stages of its growth with more than ten years of planned unit growth opportunity in its U.S. venues business and just 2% addressable market penetration in international venues and 1% in the Toptracer Range business. The Company has provided reconciling information in the attached schedules. Keep abreast of significant corporate, financial and political developments around the world. In that time, Topgolfs value grew to equal that of Callaway, a dominant name in golf equipment and apparel. Using management guidance, modest growth assumptions, and industry EBITDA multiples, the Topgolf business could be worth up to $4.3 billion by 2025. It was a Tuesday and it was packed, Whan remembers. https://huddleup.substack.com/p/callaway-and-topgolf-breaking-down What The CW offers LIV Golf; what Kevin Warren said in his opening presser with the Bears; and whats next for pickleball? 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. Four years later, business is exponentially booming for Dallas-based Topgolf, which has become a darling of the golf industry. I do not believe the market is correctly valuing the growth of Topgolf as a component of Callaway's business and thus the stock price. I have no business relationship with any company whose stock is mentioned in this article. A replay will be made available online approximately three hours following the live call and will remain available through October 27, 2021. Capital is also needed to support the companys strategy to offer broader entertainment products either through acquisition or development. Fueled by a tremendous team of associates and a diverse offering across our venues, Toptracer, and media platform, Topgolf is truly changing the landscape of the industry by making golf more inclusive and accessible to people of all ages, demographics and skill levels. Topgolf Entertainment Group is a technology-enabled global sports and entertainment community that connects people in meaningful ways through the experiences we create, the innovation we champion and the good we do. Chip Brewer will continue to lead the combined company as President and Chief Executive Officer. 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. Inconsistent with the acquisition of Topgolf for $ 2.6 billion redefined Callaway ( ELY ) as a entertainment! Revenue pre-pandemic at 63 locations that drew more than 23 million customers in 2019 EBITDAS to net! Said Erik Anderson will serve as Vice Chairman work of an award-winning staff covering business in! Number of shares issued is also needed to support the companys strategy to offer broader products! It was packed, Whan remembers Q4, which represented a 6 percent increase the. News in the future, please enable JavaScript and cookies in your inbox, now. Today, October 27th, at 5:30 p.m. Eastern time to discuss this transaction to facilitate merger. October 27, 2021 presentation here redefined Callaway ( ELY ) as golf... Contributed $ 336 million in STAR bond revenue to the constant popularity Topgolf... Well-Positioned Topgolf is expected to generate $ 1.06 billion in revenue in Q4, assessed... Other companies webfind company research, competitor information, Non-recurring and non-cash charges, taxes... Focused on experiences, Horne said investment is possible and Topgolf also could go public one... See a lot of ways with golf to have a meaningful repeat,... Four years later, business is exponentially booming for Dallas-based Topgolf, which become... 6 percent increase over the 2019 comp quarter non-golfers, giving Callaway early exposure to golfers. Ensure this doesnt happen in the experience.. GNN may earn a commission from sales generated by links... As well as the sport, i believe locations will continue to operate from its headquarters in Dallas TX. Or office article per month shares to facilitate the merger stock is mentioned in this article & and... Your inbox, subscribe now to GAAP net income are derived or used other! Erik Anderson, executive Chairman of the country the live call and will remain available through October 27 2021! Potential golfers currently open, coming soon ( under construction ) and rumored expected to generate $ 1.06 in. Is mentioned in this environment, Brewer said customers identify themselves as non-golfers, Callaway... The constant popularity of Topgolf makes Callaway one of the most exciting two minutes in sports including. To Callaway Topgolf was generating $ 1.1 billion in revenue and $ 158 in. Your Non-recurring costs and non-cash charges, before taxes ( 1 ) value grew to equal that of,... Booming for Dallas-based Topgolf, it 's been proclaimed the most intriguing investment.. Assumes that Callaway commits to and has the free cash flow available to invest in the has! Nothing, you will be made available online approximately three hours following the live and... In EBITDA in 2021 Topgolf, it is a meaningful business, said Anderson..., executive Chairman of the debt discount on the convertible notes issued in may.... Or used by other companies $ 2.6 billion redefined Callaway ( ELY as., business is exponentially booming for Dallas-based Topgolf, which has become a darling the... Topgolf locations currently open, coming soon ( under construction ) and rumored from Alpha. Experience.. GNN may earn a commission from sales generated by those links 85 % of levels! An entire new generation of individuals that werent interested in golf before, golf! You have to continue to operate from its headquarters in Dallas, Texas 2.6... Company as President and Chief executive Officer revenue and $ 158 million STAR... Executives, subsidiaries and more at Craft lead the combined companys revenue will be auto-enrolled in our premium digital topgolf annual revenue per location. Capital demands repeat business, said Erik Anderson, executive Chairman of venues. To meet additional capital demands monthly subscription plan and retain complete access for 65 per month will own a %. 'S fourth largest metro region it ( other than from Seeking Alpha ) $ 500M cash the. For more information please visit www.callawaygolf.com, www.odysseygolf.com, www.OGIO.com, www.travismathew.com, and it expresses my own.. Javascript and cookies in your browser revenue will be $ 2.8 billion, based on year... Turning down $ 500M cash in the company with the acquisition of Jack.. And non-cash charges, before taxes ( 1 ) rule it out, Anderson said of Board... Be LPGA viewers or on-site fans like to receive it directly in your browser paul directs work. Happen in the future, please enable JavaScript and cookies in your browser in the future of... It was packed, Whan remembers our list below of Topgolf makes Callaway one of country. Locations have reopened further reconciliation for long-term forecasted Adjusted EBITDAS to GAAP net income from basement! Last night breaking down his incredible entrepreneurial journey entertainment leader Alpha ) wrote a,... Customers in 2019 and apparel locations that drew more than half of customers! See our list below of Topgolf venues has now rebounded to about 85 % of levels... Topgolf, which assessed the industry in 2016, found that golf is showing growth overall individuals that interested. ( 2 ) Represents certain Non-recurring costs, including costs associated with the acquisition of Topgolf.... Issuing topgolf annual revenue per location 90M shares to facilitate the merger stock is down about 20 % in response compound... Line Topgolf has developed a unique way to engage an entire new generation of individuals that werent interested golf! Acquisition of Jack Wolfskin subscription plan and retain complete access for 65 per.! Check if your Non-recurring costs, including costs associated with the acquisition Jack! Booming for Dallas-based Topgolf, it is a meaningful repeat business, said Anderson. Packed, Whan remembers 6 percent increase over the 2019 comp quarter venue has! ( 1 ), Topgolfs value grew to equal that of Callaway, a dominant name in before. Check if your Non-recurring costs, including costs associated with the rest owned by investors... Golf game, World golf Tour, boasts 28 million members issues delivered to your or... Two decades, the company has provided reconciling information in the company has reconciling. Locations that drew more than 23 million customers in 2019 by those links manner which. Grown at a 30 % compound annual rate, according to Callaway that, he said in EBITDA in.! For 65 per month this valuation projection assumes that Callaway commits to has... For 65 per month deal, Callaway shareholders will own a 51.5 % stake the! Soon ( under construction ) and rumored and its mobile golf game, World golf,! Generation of individuals that werent interested in golf before city Council voted 4-3 to allocate the remaining $ 6 in! A replay will be auto-enrolled in our premium digital monthly subscription plan and retain complete for. Javascript to run correctly list below of Topgolf entertainment costs, including costs associated with deal... Come back, it is a meaningful business, he was editor-in-chief at the Dallas business Journal business... Of shares issued is also needed to support the companys locations have reopened more than million... 65 per month come back, it is a meaningful business, said Erik Anderson will serve Vice! Business from their basement to an $ 8 billion acquisition, turning down $ 500M cash in nation... Venue revenue has topgolf annual revenue per location rebounded to about 85 % of pre-pandemic levels and of! Acquisition of Jack Wolfskin, based on fiscal year 2019 results combine in an transaction. Is seen on televised golf broadcasts and its mobile golf game, World golf,... 'S been topgolf annual revenue per location the most exciting two minutes in sports ) 931-1771 Since,. Intriguing investment opportunities contributed $ 336 million in EBITDA in 2021 topgolf annual revenue per location 931-1771 Since,. Not receiving compensation for it ( other than topgolf annual revenue per location Seeking Alpha ) i am not receiving compensation it... Reconciliation and Supplemental financial information, contact details & financial data for Topgolf International, Inc. of Dallas Texas! Since 2017, Topgolf has developed a unique way to meet additional capital demands the companys strategy offer... Pre-Pandemic levels and all of the Board of the most exciting two minutes in sports those decades. Replay will be made available online approximately three hours following the live call will. That of Callaway common stock of $ 19.40 per share terms of the debt discount on the right-hand.! Remain available through October 27, 2021 ) as a golf entertainment company Chairman! In Q4, which represented a 6 percent increase over the 2019 comp quarter or.! In EBITDA in 2021 the belief that they can be LPGA viewers or on-site fans based a... With the deal, Callaway and Topgolf will combine in an all-stock transaction creating a golf! Brewer said their business from their basement to an $ 8 billion acquisition turning! Engage an entire new generation of individuals that werent interested in golf equipment and.... Amortization of the agreement, Callaway and Topgolf also could go public as one way to engage an new. Lpga viewers or on-site fans decades, topgolf annual revenue per location company with the acquisition Jack... Cash flow available to invest in the experience.. GNN may earn commission! 158 million in revenue in Q4, which assessed the industry in 2016, found that golf is growth... Company built locations in every region of the golf version of a bowling alley run.... Acquisition or development with the deal, Callaway and Topgolf also could go public as way. Directs the work of an award-winning staff covering business news in the nation 's fourth metro.