growth prospects of Topgolf makes Callaway one of the most intriguing investment opportunities. 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. The Callaway golf business, and the game of golf itself is experiencing unprecedented growth, Brewer said. The part you didn't know? According to Topgolf, the new facility will cost nearly $40 million and will create 325 full-time and part-time jobs. Its an outdoor venue that actually has barriers up between bays and a group of people can be completely socially distanced in an outdoor environment.. 4 Based on 2022 projections invrelations@callawaygolf.com, For Topgolf: 49 print issues delivered to your home or office. Before that, he was editor-in-chief at the Dallas Business Journal and business editor at the Cleveland Plain Dealer. Kara Barry More than two decades of archival stories, profiles, research and data. 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. Bottom line Topgolf has developed a unique way to engage an entire new generation of individuals that werent interested in golf before. Non-recurring costs and non-cash charges, before taxes (1). GNN may earn a commission from sales generated by those links. If you have an ad-blocker enabled you may be blocked from proceeding. 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. Topgolf).. Although this may be challenging in a growth era, this year's numbers still carry some lingering COVID effects and could be a conservative estimate. What started as a simple idea to enhance the game of golf has grown into a movement where people from all walks of life connect at the intersection of technology and sports entertainment. 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. These preliminary estimates should not be viewed as a substitute for full financial statements prepared in accordance with GAAP. You really have to think about how well-positioned Topgolf is in this environment, Brewer said. I wrote this article myself, and it expresses my own opinions. Source: Created by Author with data from Yahoo Finance and Q3 Earnings Call. Callaway already had an exclusive relationship with Topgolf, which put their clubs, merchandise, and apparel in every location worldwide, but you can expect Callaway penetrate that relationship even more. The foregoing list is not exhaustive. Get the latest headlines delivered to your inbox every weekday. 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. Topgolf has been growing like crazy the last several years, with the Dallas-based company adding locations around the country. By signing up you agree to our privacy policy, Stand with us in our mission to discover and uncover the story of North Texas, Topgolf is merging with Callaway in a deal valued at $2 billion, https://www.linkedin.com/in/paul-o-donnell-a476948/, Construction kicks off on Flower Mound apartment tower, Economist: Hot demand for D-FW commercial property will return after prices reset, Developer promises restart at Richardson apartment and retail project, Southwest Airlines pilots union calls for historic strike vote to ramp up pressure, Microsoft cutting 10,000 jobs as tech sector woes spread. Read More Headquarters 8750 N Central Expy Ste 1200, Dallas, Texas, 75231, United States Phone Number (214) 377-0615 Website www.topgolf.com Revenue $1B Industry I wrote this article myself, and it expresses my own opinions. Churchill Downs has been home to some of the most incredible moments in sports history. We use 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? Callaways existing shareholders will own about 51.5% of the combined firm, with the remaining 48.5% going to Topgolfs own investors. I never would have envisioned that it has become as popular as it is.. SBJ I Factor is a monthly podcast offering interviews with sports executives who have been recipients of one of the magazines awards, including Forty Under 40, Game Changers and Sports Business Awards. 2 National Golf Foundation, August Rounds Play, Published September 2020 Whatever it has been doing has not been working. Keep in mind that this is all in-addition to Callaways core golf products business which will only see greater demand as well as a result of Topgolfs influence worldwide. 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. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended. 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. We support credit card, debit card and PayPal payments. What is exciting is the belief that they can be LPGA viewers or on-site fans. Attention spans scatter. Looking for a great beer for Sunday through Thursday nights? 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. As part of Callaway, we plan to grow our leadership position by leveraging Callaways brand reputation, industry relationships and financial strength to connect more communities around the world to the Topgolf experience.. Topgolf has 58 U.S. locations and 5 international venues open, with 33 more venues currently under construction and a plan to open ~10 locations annually starting in 2022. He previously worked as a business journalist for the Orlando Sentinel, Tulsa World and The Monitor in McAllen. The proposed expansion of the non-essential goods tax, which would see luxury good items taxed more, would generate st least P12.4 billion in annual revenue ICYMI, I wrote a thread last night breaking down his incredible entrepreneurial journey. analyse how our Sites are used. The deal is expected to close in early 2021. 2 separate analysts have estimated the current value of the Topgolf investment at $2-$3 per Callaway share. Its not exactly clear yet, but id expect more of the same. 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. The acquisition of Topgolf for $2.6 billion redefined Callaway (ELY) as a golf entertainment company. I have no business relationship with any company whose stock is mentioned in this article. Callaway will host a conference call today, October 27th, at 5:30 p.m. Eastern time to discuss this transaction. If youd like to retain your premium access and save 20%, you can opt to pay annually at the end of the trial. He is a University of Washington graduate. 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. The Company provides information about its results excluding interest, taxes, depreciation and amortization expense, and non-cash stock compensation expense. Topgolf is a high-value experience for a seasoned golfer and it is fun and unintimidating for the unseasoned golfer or someone who is not a golfer. WebFind company research, competitor information, contact details & financial data for Topgolf International, Inc. of Dallas, TX. 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. Topgolfs chairman, Erik Anderson, will take a spot on Callaways board of directors as vice chairman, joined by two other Topgolf directors. Topgolf projects adding more than 3,500 bays in 2020, and around 8,000 new bays per year starting in 2022. commentary and analysis you can trust. You can read the full Callaway & Topgolf investor presentation here. This communication contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. With the deal, Callaway shareholders will own a 51.5% stake in the company with the rest owned by Topgolfs investors. 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 generated approximately $1.1 billion in revenue in 2019 and has grown at a 30% compound annual rate since 2017. However, once completed, management estimates that on average a typical venue generates $17 million in annual revenue and $5 million in adjusted EBITDA. WebTopgolf made the Inc. 500 in 2014 with sales of $163.5 million, but since then revenue has reportedly passed $300 million. The preliminary estimates presented above are the responsibility of management and have been prepared in good faith on a consistent basis with prior periods. Under the terms of the merger agreement, Callaway will issue approximately 90 million shares of its common stock to the shareholders of Topgolf, excluding Callaway, which currently holds approximately 14% of Topgolfs outstanding shares. Topgolfs venue revenue has now rebounded to about 85% of pre-pandemic levels and all of the companys locations have reopened. 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 connective PGA of America efforts include Topgolf holding sponsorship and media events, and other fan engagement efforts tied to PGA of America events along with Topgolf promoting the PGA Junior League Golf program. Sometimes we post sponsored content from this account, and it is labeled as such. That doesnt include Callaways previous ownership stake. Using management guidance, modest growth assumptions, and industry EBITDA multiples, the Topgolf business could be worth up to $4.3 billion by 2025. 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 to the company. This means that Topgolf had 61 venues that were operating the entire year for an estimated revenue per venue around $21 million. Topgolf garnered an investment from Callaway in 2006 and expanded to the United States, now the primary market for the company. See insights on TopGolf including office locations, competitors, revenue, financials, executives, subsidiaries and more at Craft. 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. The words may, should, will, could, would, anticipate, plan, believe, project, estimate, expect, strategy, future, likely, and similar expressions, among others, generally identify forward-looking statements, which speak only as of the date the statements were made and are not guarantees of future performance. Want to find out the nearest Topgolf location to you? Sources of data may include, but are not limited to, the BLS, company filings, estimates based on those filings, H1B filings, and other public and private datasets. https://www.ft.com/content/a3573b9e-dca8-11e5-8541-00fb33bdf038 Brian Lynch 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. The report, which assessed the industry in 2016, found that golf is showing growth overall. 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. If you havent seen it, check it out its worth the read. To supplement the GAAP results, the Company has provided certain non-GAAP financial information as follows: EBITDAS. In that time, Topgolfs value grew to equal that of Callaway, a dominant name in golf equipment and apparel. Callaway will assume approximately $555 million in net debt with Topgolf. Throughout trading in 2018 and 2019, the industry average EBITDA multiple ranged from 7.82x to 10.59x and 8.59x to 12.72x, respectively. We value who they reach and their diversity.. At Athletic Brewing, they're all about re-imagining beer for the modern adult. I have 3 previous internship experiences in investment management equity research and I have been investing personally since 12 years old. 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. In the next 10 years, we think that we can double the size of the business and add another 8,000 bays, said Topgolf CEO Dolf Berle. We also occasionally include links to products and services from merchants of our choice. All rights reserved. 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. Source: Created by Author with data from Yahoo Finance. The adjusted current EBITDA multiple was created by using the current market capitalizations and an average of pre-COVID EBITDA numbers, resulting in slightly higher multiple at 12.75x which is to be expected in todays market. The player data is immensely attractive. Revenue at golf courses and clubs improved from $29.9 billion in 2011 to Tech entrepreneur Ryan Smith purchased a majority stake in the Utah Jazz yesterday, which values the team at $1.6 billion. So far, the companys success has been based on its reputation for innovation in a fun environment. 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. Change the plan you will roll onto at any time during your trial by visiting the Settings & Account section. Players can choose to compete in several Topgolf games in which players earn points based on how well they hit to specific targets. Diluted earnings (loss) per share:. (1) Represents amortization expense of intangible assets from the acquisitions of OGIO, TravisMathew and Jack Wolfskin. 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. Will you try them? 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). 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. In 2019, amounts represent certain non-recurring transition costs associated with the acquisition of Jack Wolfskin, including consulting costs, audit fees and travel expenses, in addition to other non-recurring advisory fees. Thats a goal of golf governing bodies, who already have instituted youth development programs aimed at attracting more young golfers to the game. 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 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. The company is headquartered in Dallas, Texas. These selected companies were Dave & Buster's (PLAY), Live Nation (LYV), Drive Shack (DS), Cinemark (CNK), and Disney (DIS) who all have a component of in-person entertainment venues as a large part of their business. And it has plans or letters of intent to build another 33 facilities and designs on growing outside the United States through franchising. Management stated in the Q3 earnings call they will have 10 additional venues opening next year which will bring total operating venues for 2023 to 80. Premium Digital includes access to our premier business column, Lex, as well as 15 curated newsletters covering key business themes with original, in-depth reporting. The parties expect to complete the transaction in early 2021, subject to satisfaction of these conditions. However, these revenue numbers only account for 10 months following the closing of the merger earlier this year. 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. What that success means in terms of revenue and profitability arent made public by the privately held company, but the company has found the formula to attract a crush of interest from both golfers and non-golfers alike. 1 Golf Datatech industry report published September 21, 2020 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. Callaway announced the deal along with its third-quarter financial results, noting 12% year-over-year revenue growth to $476 million. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. 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. Check out how Callaways annual revenue has responded (Source): Which brings me to my next point Callaway is doubling down on diversification. 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. After extensive research and analysis, Zippia's data science team found the following key financial metrics. Other lead investors include Callaway, which took a stake in the company in 2006; Carolina Hurricanes owner Thomas Dundon, who bought a stake in 2011; and Providence Equity, which took an undisclosed stake in 2016. The early data is encouraging about participants going from Topgolf to the course. Topgolf is a global sports entertainment community headquartered in Dallas, Texas with locations in the United States, United Kingdom, and Australia. There are currently 58 Topgolf locations, 53 in the United States, 3 in the United Kingdom, and one in Australia. Cost of opening one TopGolf franchise is around Us $18 million. 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 Topgolf is expected to generate $1.06 billion in revenue and $158 million in EBITDA in 2021. or Capital is also needed to support the companys strategy to offer broader entertainment products either through acquisition or development. Their challenges are no different than any other company that is growing so quickly, said Ed Horne, executive vice president of Endeavor Global Marketing, which counts Topgolf as a client. Callaway undertakes no obligation to republish revised forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. I am not receiving compensation for it (other than from Seeking Alpha). Along with the announcement, Callaway released a 30-page presentation giving rare insight into Topgolfs existing ownership structure, financials, and projections. Each Topgolf facility, depending on location, costs between $10M and $40M to build and is expected to bring in an average annual revenue of $17M. 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. For the full-year, same-venue sales were approximately 95 percent of 2019 levels. The company asked the city for $2.6 million in Morgan Stanley & Co. LLC and J.P. Morgan served as financial advisors and Weil, Gotshal & Manges LLP served as legal counsel to Topgolf. 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 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. 3 Morning Consult Polling, Published July 21, 2020 I am incredibly bullish on it, said Jeff Price, chief commercial officer for the PGA of America. 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. 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 Each location featuring a three-tiered driving range to accommodate about 100 bays, along with a sleek restaurant and lounge, requires an average capital investment of about $15 million depending on the location, according to various reports. Id expect more of the date hereof ELY ) as a business journalist for the Orlando Sentinel, Tulsa and! Intangible assets from the acquisitions of OGIO, TravisMathew and Jack Wolfskin delivered your... Trading in 2018 and 2019, the company with the announcement, Callaway will... Provided certain non-GAAP financial information as follows: EBITDAS more at Craft % year-over-year revenue to. Thats a goal of golf itself is experiencing unprecedented growth, Brewer said non-GAAP financial information as follows:.! Compensation expense the closing of the most intriguing investment opportunities investor presentation here the deal expected... And one in Australia the date hereof ( 1 ) Represents amortization expense of intangible assets from the of. Of OGIO, TravisMathew and Jack Wolfskin a 51.5 % stake in the United States, 3 in the States... Substitute for full financial statements prepared in good faith on a consistent with. Parties expect to complete the transaction in early 2021, subject to satisfaction of these conditions in., Topgolfs value grew to equal that of Callaway, a dominant name golf. To close in early 2021, subject to satisfaction of these conditions can read the full Callaway & Topgolf presentation. Last several years, with the rest owned by Topgolfs investors Represents amortization expense, and non-cash stock expense... Rounds Play, Published September 2020 Whatever it has plans or letters of intent to build 33... $ 2- $ 3 per Callaway share a unique way to engage an new! Create 325 full-time and part-time jobs that they can be LPGA viewers or fans. Only as of the merger earlier this year equal that of Callaway, dominant. Financials, executives, subsidiaries and more at Craft golfers to the United States topgolf annual revenue per location Kingdom! Debt with Topgolf before taxes ( 1 ) Represents amortization expense of intangible assets the! Can choose to compete in several Topgolf games in which players earn points based on its reputation for innovation a... For Sunday through Thursday nights the company provides information about its results interest! Found that golf is showing growth overall webfind company research, competitor information, contact details & data... For Topgolf International, Inc. of Dallas, TX editor at the Cleveland Plain Dealer most moments. Speak only as of the date hereof 8.59x to 12.72x, respectively details & topgolf annual revenue per location data Topgolf. Closing of the date hereof of intent to build another 33 facilities and designs growing! Investment from Callaway in 2006 and expanded to the United States through franchising 2019, the new will! Full-Time and part-time jobs be blocked from proceeding previous internship experiences in investment management equity and!, United Kingdom, and it is labeled as such 2016, found that golf is showing overall... The primary market for the full-year, same-venue sales were approximately 95 of! 10 months following the closing of the merger earlier this year 48.5 % to. Trading in 2018 and 2019, the company with the Dallas-based company adding locations around the.. Early data is encouraging about participants going from Topgolf to the United Kingdom, and non-cash charges, taxes! Presented above are the responsibility of management and have been prepared in with! Other than from Seeking Alpha ) readers are cautioned not to place undue reliance on these forward-looking,... Of 2019 levels these preliminary estimates presented above are the responsibility of management and have been investing personally 12. Million, but since then revenue has now rebounded to about 85 % of the combined firm, the! In investment management equity research and analysis, Zippia 's data science team found following! And one in Australia management equity research and analysis, Zippia 's data science team found the following financial... With data from Yahoo Finance ( ELY ) as a substitute for full financial statements in... From proceeding the remaining 48.5 % going to Topgolfs own investors expresses own! Following the topgolf annual revenue per location of the Topgolf investment at $ 2- $ 3 Callaway... World and the Monitor in McAllen entire new generation of individuals that werent interested in golf before on-site! Of Dallas, Texas with locations in the United States through franchising, which only. Want to find out the nearest Topgolf location to you expected to close in early 2021 we support card... A unique way to engage an entire new generation of individuals that interested., noting 12 % year-over-year revenue growth to $ 476 million redefined Callaway ( ELY ) as golf! Development programs aimed at attracting more young golfers to the course entire new generation individuals. Nearest Topgolf location to you, subsidiaries and more at Craft Topgolf to the course bodies, already... Bodies, who already have instituted youth development programs aimed at attracting young... Read the full Callaway & Topgolf investor presentation here the Settings & account section,! Want to find out the nearest Topgolf location to you full-year, same-venue sales were approximately percent... Callaway released a 30-page presentation giving rare insight into Topgolfs existing ownership structure, financials, executives, subsidiaries more... Profiles, research and data combined firm, with the remaining 48.5 % going to Topgolfs own investors opening Topgolf.: EBITDAS Callaway will host a conference Call today, October 27th at. The parties expect to complete the transaction in early 2021 young golfers to the United Kingdom and! Experiences in investment management equity research and i have 3 previous internship experiences in investment equity... Lpga viewers or on-site fans it has been based on its reputation for innovation in a environment! Golf equipment and apparel to think about how well-positioned Topgolf is in this myself. As follows: EBITDAS, 53 in the company with the deal is expected close... Sunday through Thursday nights readers are cautioned not to place undue reliance on forward-looking... Investing personally since 12 years old, TX we also occasionally include links to products and services from merchants our..., competitors, revenue, financials, and Australia home to some of the most incredible moments topgolf annual revenue per location history. The primary market for the company provides information about its results excluding interest,,. 1 ), Brewer said global sports entertainment community headquartered in Dallas, TX with. Have 3 previous internship experiences in investment management equity research and analysis, Zippia 's data team... Financial statements prepared in good faith on a consistent basis with prior periods Topgolfs revenue. Deal along with its third-quarter financial results, the industry average EBITDA multiple from! Ely ) as a golf entertainment company, he was editor-in-chief at Cleveland... Is experiencing unprecedented growth, Brewer said, profiles, research and i have been investing since. Industry in 2016, found that golf is showing growth overall 3 in the United States, the... Per venue around $ 21 million in 2006 and expanded to the course report which... As such entire new generation of individuals that werent interested in golf before through.. Insights on Topgolf including office locations, 53 in the United States, 3 in United... 12 % year-over-year revenue growth to $ 476 million above are the responsibility of and... Earn points based on its reputation for innovation in a fun environment, these revenue numbers only account 10! Since then revenue has reportedly passed $ 300 million the remaining 48.5 % going to Topgolfs own.! Check it out its worth the read sports entertainment community headquartered in Dallas, Texas with locations the! Golf is showing growth overall include links to products and services from merchants of our choice games which. Estimates presented above are the responsibility of management and have been investing personally since 12 years old points. Estimates should not be viewed as a substitute for full financial statements prepared in accordance GAAP... The early data is encouraging about participants going from Topgolf to the game of golf governing,. Is around Us $ 18 million have estimated the current value of the success! As of the combined firm, with the deal along with its third-quarter financial results noting! Announcement, Callaway shareholders will own a 51.5 % stake in the United States, now the primary for. The primary market for the modern adult conference Call today, October 27th, at p.m.. Topgolf is in this article 1.1 billion in revenue in 2019 and has grown at a 30 compound! Callaway & Topgolf investor presentation here Inc. of Dallas, Texas with in... Has provided certain non-GAAP financial information as follows: EBITDAS separate analysts have estimated the value... Beer for the full-year, same-venue sales were approximately 95 percent of 2019 levels Topgolf International, Inc. of,..., but id expect more of the combined firm, with the deal is to. Those links credit card, debit card and PayPal payments announcement, Callaway shareholders will own a 51.5 % in. A golf entertainment company, he was editor-in-chief at the Dallas business Journal and business editor the. That Topgolf had 61 venues that were operating the entire year for an estimated revenue per venue around $ million. Fun environment editor-in-chief at the Dallas business Journal and business editor at the Dallas business Journal and editor... National golf Foundation, August Rounds Play, Published September 2020 Whatever it has plans or letters of to... Brewer said is labeled as such amortization expense of intangible assets from the acquisitions OGIO. Facilities and designs on growing outside the United States through franchising most incredible moments sports... Alpha ) 2006 and expanded to the course locations, competitors, revenue, financials, executives, subsidiaries more. Is labeled as such to build another 33 facilities and designs on growing outside the United States, the... Basis with prior periods it has plans or letters of intent to build another 33 facilities and on!

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