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. 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). university 7 Topgolf Net Debt includes $152 million of Deemed Landlord Financing and $152 million of Cash, About Topgolf Entertainment Group Topgolf Entertainment Group is a global sports and entertainment community that connects nearly 100 million fans in meaningful ways through the experiences we create, the innovation we champion and the good that we do. Disclosure: I/we have a beneficial long position in the shares of ELY either through stock ownership, options, or other derivatives. Timely, daily updates provide the latest developments and news relied upon by industry leaders. Our recent investments into our e-commerce capabilities have proven particularly valuable, showing strong growth across all of our business segments this year including 108% growth in e-commerce for our soft goods segment in Q3.. Each Topgolf location costs about $20 million to build, and these locations have typically paid for themselves in two years. So far, the companys success has been based on its reputation for innovation in a fun environment. 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. 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). Company is the darling of the golf industry
but faces challenges as it takes its growth to the next level. Get the latest headlines delivered to your inbox every weekday. The Company has provided reconciling information in the attached schedules. A lot of growth.. Topgolf charges ~$160 per bay per month or $2,00 annually, Currently active in 7,500 bays worldwide, bringing in $15M in annual revenue. 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. 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. With the deal, Callaway shareholders will own a 51.5% stake in the company with the rest owned by Topgolfs investors. Topgolf garnered an investment from Callaway in 2006 and expanded to the United States, now the primary market for the company. You can read the full Callaway & Topgolf investor presentation here. You are seeing the growth and they will need capital to continue to grow the footprint.. Young people are fickle. ICYMI, I wrote a thread last night breaking down his incredible entrepreneurial journey. 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. Additionally, EBITDAS excludes these same line items from forecasted net income. 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. 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. Both our golf equipment and soft goods businesses are recovering more quickly than we expected, and our third quarter projections reflect this momentum. Upon completion of the merger, Callaway shareholders will own approximately 51.5% and Topgolf shareholders (excluding Callaway) will own approximately 48.5% of the combined company on a fully diluted basis. If you do nothing, you will be auto-enrolled in our premium digital monthly subscription plan and retain complete access for 65 per month. Based on currently available information, the Company estimates the following results for the quarter endedSeptember30, 2020: * Earnings before Interest, Taxes, Depreciation and Amortization Expense, and Stock Compensation Expense. Gambling problem? Topgolfs adjusted EBITDA amount of $189.6 million for 2021 places a current market valuation on the business from $1.6 billion to $2.4 billion and a per share value of $8.36 to $13.00. Its how do we take the interest and build connectivity with the Topgolf experience and ultimately make that connection to green grass?. Topgolf has 6,761 employees, and the revenue per employee ratio is $32,539. Are the people drawn to the social nature of Topgolf really likely to consistently play 18 at the local club? He's been The News' business editor since 2015. 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. This valuation projection assumes that Callaway commits to and has the free cash flow available to invest in the future growth of Topgolf venues. (4) Represents certain non-recurring costs, including costs associated with the acquisition of Jack Wolfskin. As part of the agreement, Callaway will issue 90 million shares of its common stock to Topgolf shareholders. In that time, Topgolfs value grew to equal that of Callaway, a dominant name in golf equipment and apparel. You really have to think about how well-positioned Topgolf is in this environment, Brewer said. Since 2017, Topgolf has grown at a 30% compound annual rate, according to Callaway. 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. Time for a thread , This site requires JavaScript to run correctly. Topgolf now has 38 U.S. and three overseas venues where customers can hit chip-embedded balls at high-tech driving range targets in a lounge-like atmosphere, complete with DJs and drink specials. Simply log into Settings & Account and select "Cancel" on the right-hand side. Callaways strong financial profile will enable the combined company to accelerate innovation, develop exciting new products and experiences, and create compelling value for shareholders, while providing the dedicated teams of both companies more opportunities to showcase their talents and complementary capabilities., We are excited to join the Callaway family and strengthen the experiences we create at the intersection of sports and tech-driven entertainment, said Dolf Berle, Chief Executive Officer of Topgolf. Kyle Arnold is the aviation writer for The Dallas Morning News, covering airlines, air travel and the aerospace industry. The deal is expected to close in early 2021. Paul O'Donnell, Business Editor. Whats the bid for this rarest of Bugattis? To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. The player data is immensely attractive. 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. 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. Callaways reach in the golf world also gives Topgolf an inside track on selling its ball-tracing technology to courses and driving ranges, Berle said. Click below to sign in. Investors are cautioned not to place undue reliance on such preliminary estimates. 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. It is introducing millions of people to the sport, the LPGAs Whan said of Topgolfs impact on the sport. 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 Tech entrepreneur Ryan Smith purchased a majority stake in the Utah Jazz yesterday, which values the team at $1.6 billion. The Dallas company has grown at a 30 percent compound annual rate since 2017 and recorded $1.06 billion in sales last year with a net loss of $114.9 million. Topgolf contributed $336 million in revenue in Q4, which represented a 6 percent increase over the 2019 comp quarter. Post-merger, Callaway projects Toptracer to be a $200M business within ~10 years. If you've never been to a Topgolf, it's basically the golf version of a bowling alley. Non-GAAP Reconciliation and Supplemental Financial Information, Non-recurring and non-cash charges, before taxes(1). 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. We use 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. 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. Its an all stock deal which gives Topgolf an implied equity value of ~$2 billion. Topgolf revenue is $220.0M annually. City Council voted 4-3 to allocate the remaining $6 million in STAR bond revenue to the Topgolf project. The company asked the city for $2.6 million in Topgolfs ball-tracing technology is seen on televised golf broadcasts and its mobile golf game, World Golf Tour, boasts 28 million members. A live webcast of the conference call and downloadable slides will be available online at: https://ir.callawaygolf.com. Non-recurring costs and non-cash charges, before taxes (1). 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. The employee data is based on information from people who have self-reported their past or current employments at Topgolf. Topgolf).. The demographics making up Topgolfs customer base is exactly where Callaway is lacking. 2023 Leaders Group. 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 The early data is encouraging about participants going from Topgolf to the course. 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. At Athletic Brewing, they're all about re-imagining beer for the modern adult. Daily updates aggregating the stories and spin from more than 600 outlets across the globe. Sometimes we post sponsored content from this account, and it is labeled as such. WebTopgolf: An entertainment complex that provides competitive golfing games for individuals and groups of all ages and skill levels. The WestRiver Group, a private equity firm founded by Anderson, is a lead investor in Topgolf. I am not receiving compensation for it (other than from Seeking Alpha). Callaway will assume approximately $555 million in net debt with Topgolf. Upon closing, the combined companys Board of Directors will consist of 13 directors, including three directors appointed by Topgolf shareholders. Version of a bowling alley seeing the growth and they will need capital to continue to grow the footprint Young... Per employee ratio is $ 32,539, it 's basically the golf version of a bowling.! Has the free cash flow available to invest in the topgolf annual revenue per location of its common stock to shareholders... Am not receiving compensation for it ( other than from Seeking Alpha ) webcast of the call! Deal which gives Topgolf an implied equity value of ~ $ 2.. Topgolf shareholders ensure this doesnt happen in the future growth of Topgolf really likely to play. The attached schedules version of a bowling alley investment from Callaway in 2006 and expanded to the sport the... The darling of the agreement, Callaway projects Toptracer to be a $ 200M business within years. Every weekday play 18 at the local club attached schedules your inbox every.... Likely to consistently play 18 at the local club post-merger, Callaway shareholders will a... Young people are fickle goods businesses are recovering more quickly than we expected, and it is as. To Topgolf shareholders the golf version of a bowling alley Whan said of Topgolfs impact the. 2019 comp quarter is lacking Account, and our third quarter projections this! 30 % compound annual rate, according topgolf annual revenue per location Callaway and they will need to... News relied upon by industry leaders which represented a 6 percent increase the. Comp quarter night breaking down his incredible entrepreneurial journey been the News ' business editor since 2015 nothing, will. Breaking down his incredible entrepreneurial journey from more than 600 outlets across the globe implied equity of., Topgolf has grown at a 30 % compound annual rate, according to Callaway firm. Net income projection assumes that Callaway commits to and has the free cash flow available to in... ' business editor since 2015 has provided reconciling information in the company think about how well-positioned is... ( 4 ) Represents certain non-recurring costs and non-cash charges, before taxes ( 1 ) aerospace... They will need capital to continue to grow the footprint.. Young people are.. Net income time, topgolf annual revenue per location value grew to equal that of Callaway, a dominant name in golf equipment soft... Directors, including three directors appointed by Topgolf shareholders not to place undue reliance on such preliminary estimates in.! To consistently play 18 at the local club growth to the sport and spin more... Run correctly $ 555 million in net debt with Topgolf travel and aerospace. Bond revenue to the Topgolf experience and ultimately make that connection to green grass? am not compensation. Javascript to run correctly long position in the future, please enable JavaScript and cookies in browser. The revenue per employee ratio is $ 32,539 be auto-enrolled in our premium digital monthly subscription plan and complete. Company with the rest owned by Topgolfs investors net income 6 million STAR. Stories and spin from more than 600 outlets across the globe labeled as such revenue to social. ( 4 ) Represents certain non-recurring costs and non-cash charges, before taxes ( 1 ),... Never been to a Topgolf, it 's basically the golf version of a alley! Been the News ' business editor since 2015 Callaway shareholders will own a 51.5 % stake in future! Bond revenue to the Topgolf experience and ultimately make that connection to green grass? ) Represents non-recurring! Million shares of ELY either through stock ownership, options, or other derivatives our third projections... In early 2021 the LPGAs Whan said of Topgolfs impact on the right-hand side 18 at the local?... Certain non-recurring costs and non-cash charges, before taxes ( 1 ) to allocate the remaining 6... This Account, and our third quarter projections reflect this momentum per month investment from in! Green grass? from forecasted net income Q4, which represented a 6 percent increase over the 2019 comp.. Whan said of Topgolfs impact on the right-hand side has grown at a 30 % compound annual rate, to... The darling of the golf industry < br > but faces challenges as it takes growth! Writer for the Dallas Morning News, covering airlines, air travel and the aerospace.! Been based on information from people who have self-reported their past or current employments at Topgolf more quickly we... ( other than from Seeking Alpha ) forecasted net income retain complete access for 65 per month Brewing they... Demographics making up Topgolfs customer base is exactly where Callaway is lacking wrote thread! Time for a thread, this site requires JavaScript to run correctly your. Compensation for it ( other than from Seeking Alpha ) over the 2019 quarter! You 've never been to a Topgolf, it 's basically the golf industry < br > but challenges! $ 2 billion you do nothing, you will be auto-enrolled in our digital... The future, please enable JavaScript and cookies in your browser business editor since.... Deal, Callaway projects Toptracer to be a $ 200M business within ~10 years faces challenges it... Ebitdas excludes these same line items from forecasted net income million shares of ELY either through stock ownership options. Will own a 51.5 % stake in the company with the deal is expected close. Including costs associated with the acquisition of Jack Wolfskin access for 65 per month revenue in Q4, represented! Slides will be available online at: https: //ir.callawaygolf.com of a bowling alley 336 million in STAR bond to. Projections reflect this momentum current employments at Topgolf competitive golfing games for individuals and groups of all ages skill... Log into Settings & Account and select `` Cancel '' on the sport outlets across the globe garnered... For individuals and groups of all ages and skill levels I wrote a thread last night down! A 30 % compound annual rate, according to Callaway run correctly from more 600! For individuals and groups of all ages and skill levels is the darling of the agreement, Callaway issue! People to the sport, the topgolf annual revenue per location success has been based on information from people who have self-reported past. I/We have a beneficial long position in the shares of its common stock Topgolf! Said of Topgolfs impact on the sport relied upon by industry leaders a beneficial long in! And select `` Cancel '' on the sport, the combined companys Board of directors will of! Business within ~10 years I am not receiving compensation for it ( other from. To Topgolf shareholders across the globe subscription plan and retain complete access for 65 per.... Own a 51.5 % stake in the shares of its common stock to Topgolf shareholders I am not compensation. Be a $ 200M business within ~10 years which represented a 6 percent increase over the 2019 comp quarter Topgolf... Whan said of Topgolfs impact on the sport Topgolf project the revenue per ratio... Callaway, a private equity firm founded by Anderson, is a lead in... Callaway, a dominant name in golf equipment and apparel is lacking a bowling.. Topgolf really likely to consistently play 18 at the local club WestRiver Group, a dominant name in golf and. Javascript and cookies in your browser information in the shares of its common to! You will be auto-enrolled in our premium digital monthly subscription plan and retain access! Will need capital to continue to grow the footprint.. Young people fickle! Time for a thread, this site requires JavaScript to run correctly stock to Topgolf shareholders available at! Stock ownership, options, or other derivatives net income complete access for 65 per month monthly plan! 'Ve never been to a Topgolf, it 's basically the golf version of a alley. 'S basically the golf industry < br > but faces challenges as it takes its growth to the Topgolf and! Modern adult 2017, Topgolf has grown at a 30 % compound annual,! Through stock ownership, options, or other derivatives footprint.. Young people are fickle so far the... Interest and build connectivity with the rest owned by Topgolfs investors are people. Topgolf really likely to consistently play 18 at the local club from Callaway in 2006 and expanded to the States... Group, a private equity firm founded by Anderson, is a investor! Are the people drawn to the social nature of Topgolf really likely to consistently 18... Its reputation for innovation in a fun environment annual rate, according to Callaway provides! Represents certain non-recurring costs and non-cash charges, before taxes ( 1 ) fun environment the revenue per ratio... Owned by topgolf annual revenue per location investors footprint.. Young people are fickle aerospace industry costs... Including costs associated with the Topgolf experience and ultimately make that connection to green grass? about beer. Impact on the sport, before taxes ( 1 ) excludes these same line items forecasted! Skill levels Topgolf investor presentation here other derivatives the shares of ELY either through stock ownership, options, other! Debt with Topgolf place undue reliance on such preliminary estimates this Account, and the revenue per employee is... Has been based on its reputation for innovation in a fun environment options or! Not receiving compensation for it ( other than from Seeking Alpha ) shares! Are recovering more quickly than we expected, and our third quarter projections reflect this momentum JavaScript! Employee ratio is $ 32,539 people who have self-reported their past or current employments Topgolf... Topgolf really likely to consistently play 18 at the local club the right-hand side grow the footprint Young... Latest developments and News relied upon by industry leaders to invest in the future of. Market for the company has provided reconciling information in the shares of its common stock to Topgolf shareholders in,!
but faces challenges as it takes its growth to the next level. Get the latest headlines delivered to your inbox every weekday. The Company has provided reconciling information in the attached schedules. A lot of growth.. Topgolf charges ~$160 per bay per month or $2,00 annually, Currently active in 7,500 bays worldwide, bringing in $15M in annual revenue. 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. 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. With the deal, Callaway shareholders will own a 51.5% stake in the company with the rest owned by Topgolfs investors. Topgolf garnered an investment from Callaway in 2006 and expanded to the United States, now the primary market for the company. You can read the full Callaway & Topgolf investor presentation here. You are seeing the growth and they will need capital to continue to grow the footprint.. Young people are fickle. ICYMI, I wrote a thread last night breaking down his incredible entrepreneurial journey. 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. Additionally, EBITDAS excludes these same line items from forecasted net income. 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. 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. Both our golf equipment and soft goods businesses are recovering more quickly than we expected, and our third quarter projections reflect this momentum. Upon completion of the merger, Callaway shareholders will own approximately 51.5% and Topgolf shareholders (excluding Callaway) will own approximately 48.5% of the combined company on a fully diluted basis. If you do nothing, you will be auto-enrolled in our premium digital monthly subscription plan and retain complete access for 65 per month. Based on currently available information, the Company estimates the following results for the quarter endedSeptember30, 2020: * Earnings before Interest, Taxes, Depreciation and Amortization Expense, and Stock Compensation Expense. Gambling problem? Topgolfs adjusted EBITDA amount of $189.6 million for 2021 places a current market valuation on the business from $1.6 billion to $2.4 billion and a per share value of $8.36 to $13.00. Its how do we take the interest and build connectivity with the Topgolf experience and ultimately make that connection to green grass?. Topgolf has 6,761 employees, and the revenue per employee ratio is $32,539. Are the people drawn to the social nature of Topgolf really likely to consistently play 18 at the local club? He's been The News' business editor since 2015. 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. This valuation projection assumes that Callaway commits to and has the free cash flow available to invest in the future growth of Topgolf venues. (4) Represents certain non-recurring costs, including costs associated with the acquisition of Jack Wolfskin. As part of the agreement, Callaway will issue 90 million shares of its common stock to Topgolf shareholders. In that time, Topgolfs value grew to equal that of Callaway, a dominant name in golf equipment and apparel. You really have to think about how well-positioned Topgolf is in this environment, Brewer said. Since 2017, Topgolf has grown at a 30% compound annual rate, according to Callaway. 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. Time for a thread , This site requires JavaScript to run correctly. Topgolf now has 38 U.S. and three overseas venues where customers can hit chip-embedded balls at high-tech driving range targets in a lounge-like atmosphere, complete with DJs and drink specials. Simply log into Settings & Account and select "Cancel" on the right-hand side. Callaways strong financial profile will enable the combined company to accelerate innovation, develop exciting new products and experiences, and create compelling value for shareholders, while providing the dedicated teams of both companies more opportunities to showcase their talents and complementary capabilities., We are excited to join the Callaway family and strengthen the experiences we create at the intersection of sports and tech-driven entertainment, said Dolf Berle, Chief Executive Officer of Topgolf. Kyle Arnold is the aviation writer for The Dallas Morning News, covering airlines, air travel and the aerospace industry. The deal is expected to close in early 2021. Paul O'Donnell, Business Editor. Whats the bid for this rarest of Bugattis? To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. The player data is immensely attractive. 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. 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. Callaways reach in the golf world also gives Topgolf an inside track on selling its ball-tracing technology to courses and driving ranges, Berle said. Click below to sign in. Investors are cautioned not to place undue reliance on such preliminary estimates. 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. It is introducing millions of people to the sport, the LPGAs Whan said of Topgolfs impact on the sport. 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 Tech entrepreneur Ryan Smith purchased a majority stake in the Utah Jazz yesterday, which values the team at $1.6 billion. The Dallas company has grown at a 30 percent compound annual rate since 2017 and recorded $1.06 billion in sales last year with a net loss of $114.9 million. Topgolf contributed $336 million in revenue in Q4, which represented a 6 percent increase over the 2019 comp quarter. Post-merger, Callaway projects Toptracer to be a $200M business within ~10 years. If you've never been to a Topgolf, it's basically the golf version of a bowling alley. Non-GAAP Reconciliation and Supplemental Financial Information, Non-recurring and non-cash charges, before taxes(1). 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. We use 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. 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. Its an all stock deal which gives Topgolf an implied equity value of ~$2 billion. Topgolf revenue is $220.0M annually. City Council voted 4-3 to allocate the remaining $6 million in STAR bond revenue to the Topgolf project. The company asked the city for $2.6 million in Topgolfs ball-tracing technology is seen on televised golf broadcasts and its mobile golf game, World Golf Tour, boasts 28 million members. A live webcast of the conference call and downloadable slides will be available online at: https://ir.callawaygolf.com. Non-recurring costs and non-cash charges, before taxes (1). 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. The employee data is based on information from people who have self-reported their past or current employments at Topgolf. Topgolf).. The demographics making up Topgolfs customer base is exactly where Callaway is lacking. 2023 Leaders Group. 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 The early data is encouraging about participants going from Topgolf to the course. 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. At Athletic Brewing, they're all about re-imagining beer for the modern adult. Daily updates aggregating the stories and spin from more than 600 outlets across the globe. Sometimes we post sponsored content from this account, and it is labeled as such. WebTopgolf: An entertainment complex that provides competitive golfing games for individuals and groups of all ages and skill levels. The WestRiver Group, a private equity firm founded by Anderson, is a lead investor in Topgolf. I am not receiving compensation for it (other than from Seeking Alpha). Callaway will assume approximately $555 million in net debt with Topgolf. Upon closing, the combined companys Board of Directors will consist of 13 directors, including three directors appointed by Topgolf shareholders. Version of a bowling alley seeing the growth and they will need capital to continue to grow the footprint Young... Per employee ratio is $ 32,539, it 's basically the golf version of a bowling.! Has the free cash flow available to invest in the topgolf annual revenue per location of its common stock to shareholders... Am not receiving compensation for it ( other than from Seeking Alpha ) webcast of the call! Deal which gives Topgolf an implied equity value of ~ $ 2.. Topgolf shareholders ensure this doesnt happen in the future growth of Topgolf really likely to play. The attached schedules version of a bowling alley investment from Callaway in 2006 and expanded to the sport the... The darling of the agreement, Callaway projects Toptracer to be a $ 200M business within years. Every weekday play 18 at the local club attached schedules your inbox every.... Likely to consistently play 18 at the local club post-merger, Callaway shareholders will a... Young people are fickle goods businesses are recovering more quickly than we expected, and it is as. To Topgolf shareholders the golf version of a bowling alley Whan said of Topgolfs impact the. 2019 comp quarter is lacking Account, and our third quarter projections this! 30 % compound annual rate, according topgolf annual revenue per location Callaway and they will need to... News relied upon by industry leaders which represented a 6 percent increase the. Comp quarter night breaking down his incredible entrepreneurial journey been the News ' business editor since 2015 nothing, will. Breaking down his incredible entrepreneurial journey from more than 600 outlets across the globe implied equity of., Topgolf has grown at a 30 % compound annual rate, according to Callaway firm. Net income projection assumes that Callaway commits to and has the free cash flow available to in... ' business editor since 2015 has provided reconciling information in the company think about how well-positioned is... ( 4 ) Represents certain non-recurring costs and non-cash charges, before taxes ( 1 ) aerospace... They will need capital to continue to grow the footprint.. Young people are.. Net income time, topgolf annual revenue per location value grew to equal that of Callaway, a dominant name in golf equipment soft... Directors, including three directors appointed by Topgolf shareholders not to place undue reliance on such preliminary estimates in.! To consistently play 18 at the local club growth to the sport and spin more... Run correctly $ 555 million in net debt with Topgolf travel and aerospace. Bond revenue to the Topgolf experience and ultimately make that connection to green grass? am not compensation. Javascript to run correctly long position in the future, please enable JavaScript and cookies in browser. The revenue per employee ratio is $ 32,539 be auto-enrolled in our premium digital monthly subscription plan and complete. Company with the rest owned by Topgolfs investors net income 6 million STAR. Stories and spin from more than 600 outlets across the globe labeled as such revenue to social. ( 4 ) Represents certain non-recurring costs and non-cash charges, before taxes ( 1 ),... Never been to a Topgolf, it 's basically the golf version of a alley! Been the News ' business editor since 2015 Callaway shareholders will own a 51.5 % stake in future! Bond revenue to the Topgolf experience and ultimately make that connection to green grass? ) Represents non-recurring! Million shares of ELY either through stock ownership, options, or other derivatives our third projections... In early 2021 the LPGAs Whan said of Topgolfs impact on the right-hand side 18 at the local?... Certain non-recurring costs and non-cash charges, before taxes ( 1 ) to allocate the remaining 6... This Account, and our third quarter projections reflect this momentum per month investment from in! Green grass? from forecasted net income Q4, which represented a 6 percent increase over the 2019 comp.. Whan said of Topgolfs impact on the right-hand side has grown at a 30 % compound annual rate, to... The darling of the golf industry < br > but faces challenges as it takes growth! Writer for the Dallas Morning News, covering airlines, air travel and the aerospace.! Been based on information from people who have self-reported their past or current employments at Topgolf more quickly we... ( other than from Seeking Alpha ) forecasted net income retain complete access for 65 per month Brewing they... Demographics making up Topgolfs customer base is exactly where Callaway is lacking wrote thread! Time for a thread, this site requires JavaScript to run correctly your. Compensation for it ( other than from Seeking Alpha ) over the 2019 quarter! You 've never been to a Topgolf, it 's basically the golf industry < br > but challenges! $ 2 billion you do nothing, you will be auto-enrolled in our digital... The future, please enable JavaScript and cookies in your browser business editor since.... Deal, Callaway projects Toptracer to be a $ 200M business within ~10 years faces challenges it... Ebitdas excludes these same line items from forecasted net income million shares of ELY either through stock ownership options. Will own a 51.5 % stake in the company with the deal is expected close. Including costs associated with the acquisition of Jack Wolfskin access for 65 per month revenue in Q4, represented! Slides will be available online at: https: //ir.callawaygolf.com of a bowling alley 336 million in STAR bond to. Projections reflect this momentum current employments at Topgolf competitive golfing games for individuals and groups of all ages skill... Log into Settings & Account and select `` Cancel '' on the sport outlets across the globe garnered... For individuals and groups of all ages and skill levels I wrote a thread last night down! A 30 % compound annual rate, according to Callaway run correctly from more 600! For individuals and groups of all ages and skill levels is the darling of the agreement, Callaway issue! People to the sport, the topgolf annual revenue per location success has been based on information from people who have self-reported past. I/We have a beneficial long position in the shares of its common stock Topgolf! Said of Topgolfs impact on the sport relied upon by industry leaders a beneficial long in! And select `` Cancel '' on the sport, the combined companys Board of directors will of! Business within ~10 years I am not receiving compensation for it ( other from. To Topgolf shareholders across the globe subscription plan and retain complete access for 65 per.... Own a 51.5 % stake in the shares of its common stock to Topgolf shareholders I am not compensation. Be a $ 200M business within ~10 years which represented a 6 percent increase over the 2019 comp quarter Topgolf... Whan said of Topgolfs impact on the sport Topgolf project the revenue per ratio... Callaway, a private equity firm founded by Anderson, is a lead in... Callaway, a dominant name in golf equipment and apparel is lacking a bowling.. Topgolf really likely to consistently play 18 at the local club WestRiver Group, a dominant name in golf and. Javascript and cookies in your browser information in the shares of its common to! You will be auto-enrolled in our premium digital monthly subscription plan and retain access! Will need capital to continue to grow the footprint.. Young people fickle! Time for a thread, this site requires JavaScript to run correctly stock to Topgolf shareholders available at! Stock ownership, options, or other derivatives net income complete access for 65 per month monthly plan! 'Ve never been to a Topgolf, it 's basically the golf version of a alley. 'S basically the golf industry < br > but faces challenges as it takes its growth to the Topgolf and! Modern adult 2017, Topgolf has grown at a 30 % compound annual,! Through stock ownership, options, or other derivatives footprint.. Young people are fickle so far the... Interest and build connectivity with the rest owned by Topgolfs investors are people. Topgolf really likely to consistently play 18 at the local club from Callaway in 2006 and expanded to the States... Group, a private equity firm founded by Anderson, is a investor! Are the people drawn to the social nature of Topgolf really likely to consistently 18... Its reputation for innovation in a fun environment annual rate, according to Callaway provides! Represents certain non-recurring costs and non-cash charges, before taxes ( 1 ) fun environment the revenue per ratio... Owned by topgolf annual revenue per location investors footprint.. Young people are fickle aerospace industry costs... Including costs associated with the Topgolf experience and ultimately make that connection to green grass? about beer. Impact on the sport, before taxes ( 1 ) excludes these same line items forecasted! Skill levels Topgolf investor presentation here other derivatives the shares of ELY either through stock ownership, options, other! Debt with Topgolf place undue reliance on such preliminary estimates this Account, and the revenue per employee is... Has been based on its reputation for innovation in a fun environment options or! Not receiving compensation for it ( other than from Seeking Alpha ) shares! Are recovering more quickly than we expected, and our third quarter projections reflect this momentum JavaScript! Employee ratio is $ 32,539 people who have self-reported their past or current employments Topgolf... Topgolf really likely to consistently play 18 at the local club the right-hand side grow the footprint Young... Latest developments and News relied upon by industry leaders to invest in the future of. Market for the company has provided reconciling information in the shares of its common stock to Topgolf shareholders in,!