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what company owns top golf

by Marlee Goldner Published 2 years ago Updated 2 years ago
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Does top golf have stock?

In fact, Callaway owns around 14% of Topgolf, which would not be appropriately reflected in its stock at current valuation. The valuation and capital structure of Callaway's stake in Topgolf is...

Is Topgolf publicly traded?

Topgolf isn't pursuing a traditional IPO at this time. Since Callaway is already a publicly-traded company under the ticker symbol "ELY" on the NYSE, Topgolf will go public through the merger deal when it's official.

How much does Topgolf cost?

There are two fees to play at Topgolf. First, to play at a Topgolf, you have to become a member of Topgolf. If you've never been to one and become a member, the Topgolf membership fee is just $5. You pay it once, and that's it. That gets you a card to load up your time, your shot info and other stats.

Who owns the titelist brand?

What pro golfers use Titleist clubs?

  • Jordan Spieth. Brand Ambassador. Pro V1 | TSi3.
  • Patrick Cantlay. Brand Ambassador. Pro V1x | TS3.
  • Adam Scott. Brand Ambassador. Pro V1 | TSi4.
  • Danielle Kang. Brand Ambassador.
  • Webb Simpson. Brand Ambassador.
  • Nelly Korda. Brand Ambassador.
  • Tyrell Hatton. Golf Ball Player.
  • Justin Thomas. Brand Ambassador.

See more

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Who is Topgolf owned by?

Callaway Golf completes acquisition of trendy Topgolf for $2.6 billion in stock.

Is Callaway buying Topgolf?

Callaway Golf Company Completes Merger with Topgolf, Creating an Unrivaled Global Leader in the Game of Golf.

Is Topgolf a private company?

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 that's struggled in recent years. Topgolf garnered an investment from Callaway in 2006 and expanded to the United States, now the primary market for the company.

What is Topgolf's net worth?

Callaway will assume Topgolf's net debt, which is estimated to be $555 million at closing7, resulting in an estimated enterprise value for Topgolf of approximately $2.5 billion....Press Releases.($ in millions, except EPS)2020 Q3 EstimateYear over YearNon-GAAP Earnings Per Share$0.60+67%Adjusted EBITDAS*$87 million+53%1 more row•Oct 27, 2020

Who is Callaway owned by?

Answer. Started by Ely Reeves Callaway Jr in 1982, Callaway Golf is one part of the Callaway Family interests.

Who owns TaylorMade?

On May 10, 2017 it was announced that KPS Capital Partners acquired TaylorMade for US$425 million.

How much do Topgolf owners make?

According to Aria Group Architects, Inc., an average Topgolf venue is 65,000 square feet that is 3 stories high with an indoor and outdoor venue. A Topgolf owner's salary is also $58,000 per year according to one franchisee we spoke with.

How much does Callaway make from Topgolf?

Last March, Callaway merged with Topgolf. Callaway already owned a 14% stake in Topgolf after an investment in 2006 and paid $2.66 billion in stock to acquire the rest of the company. Callaway expects an even better result in FY2022, with revenue projected to range between $3.7 billion and $3.8 billion.

Is Topgolf a franchise?

Topgolf is growing its global footprint by expanding its international franchise partnerships. Guests will soon be able to enjoy new franchised Topgolf venues slated to open in 2020 and beyond.

Who is the CEO of Topgolf?

Artie Starrs (Apr 5, 2021–)Topgolf / CEO

Who is Topgolf competitor?

TopGolf's top competitors include Salamander Innisbrook, Diamond Resorts, GameGolf and The Trump Organization. Topgolf is a golf entertainment venue.

When did Callaway buy Topgolf?

Under the terms of the merger agreement, which was previously announced on October 27, 2020, Callaway issued approximately 90 million shares of its common stock to the shareholders of Topgolf, excluding Callaway, which previously held approximately 14% of Topgolf's outstanding shares.

When did Topgolf start?

The Jolliffe brothers and a licensee developed the first three Topgolf locations in the United Kingdom beginning in 2000.

Who are the investors in TEG?

Today, WestRiver Group, Callaway, Dundon and Providence Equity are four of the lead investors in TEG.

Is Callaway Golf an investor?

As the company expanded, Callaway Golf Company (NYSE: ELY) became an investor in 2006 and Thomas Dundon in 2011. Also in 2008, the company was incorporated as Topgolf International, Inc.

Where is Topgolf headquartered?

The combined company will be headquartered in Carlsbad, California with Topgolf continuing to operate from its headquarters in Dallas, Texas.

What is topgolf?

Topgolf is a leading tech-enabled golf entertainment business, with an innovative platform compris ed of its groundbreaking open-air venues, revolutionary Toptracer technology, and innovative media platform. 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 results.

What is topgolf entertainment?

Topgolf Entertainment Group is a technology-enabled global sports and entertainment leader built on a foundation of community, inclusivity and fun. 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. Topgolf Entertainment Group's platforms include Topgolf venues, Topgolf Media, Topgolf International, Toptracer and Topgolf Swing Suite. To learn more about Topgolf, visit www.topgolfentertainmentgroup.com or follow Topgolf on Instagram, Facebook, Twitter and LinkedIn.

What is Callaway Golf?

Callaway Golf Company (NYSE: ELY) is a premium golf equipment and active lifestyle company with a portfolio of global brands , including Callaway Golf, Odyssey, OGIO, TravisMathew and Jack Wolfskin. 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. For more information please visit www.callawaygolf.com, www.odysseygolf.com, www.OGIO.com, www.travismathew.com, and www.jack-wolfskin.com.

Is Callaway Golf a part of Topgolf?

CARLSBAD, CA and DALLAS, TX / March 8, 2021 / PRNewswire / -- Callaway Golf Company (“Callaway”) (NYSE:ELY) and Topgolf International, Inc. (“Topgolf”) announced today that the companies have completed their previously announced merger, following approval by shareholders of both companies. The combined enterprise creates an unrivaled tech-enabled golf company delivering leading golf equipment, apparel and entertainment.

When did Topgolf start?

What began as a technology developed by the Joliffe brothers to enhance the game of golf led to the first three Topgolf venues in the United Kingdom in 2000. Topgolf Entertainment Group then began its journey to become a technology-driven global sports and entertainment brand when Erik Anderson, Founder and CEO of investment company WestRiver ...

Where did the name Topgolf originate?

Topgolf originated from the timeless golf question, "Who hit it closer?". Originally called "Target Oriented Practice Golf," the founders of Topgolf used proprietary radio-frequency identification (RFID) technology and dartboard-style targets to answer this question, and the first Topgolf venue was created in Watford in the United Kingdom in 2000.

How many Topgolf venues are there?

As of December 29, 2019, Topgolf owned, operated or franchised 58 Topgolf venues consisting of 57 company-operated venues in the United States and the United Kingdom and one franchised venue in Australia.

Who produces this Joka?

Topgolf partners with Will Smith's Westbrook Studios production company to produce "This Joka" original content series

Is Topgolf a wholly owned company?

In 2021, Topgolf Entertainment Group merged with the Callaway family of brands and is now a wholly owned subsidiary of Callaway Golf. Erik Anderson now serves as Vice Chairman of the Callaway Board of Directors, and WestRiver Group, Providence Equity Partners and Dundon Capital remain significant shareholders in the combined company.

How much of Topgolf does Callaway own?

Callaway, which first invested in Topgolf in 2006, already owned 14% of the company. The terms of the merger imply Topgolf’s equity value at approximately $2 billion. So why did Callaway make the investment — and what does it mean for the future of both companies?

What percentage of people come to topgolf?

Here’s what we know: 49 percent of the people who come to Topgolf venues are, in fact, “golfers,” meaning they play more than one time a year, and there’s a lot for them to enjoy there. But most importantly, they can bring friends who are non-golfers and introduce them to the game in a very accessible way.

How many bays are there in Topgolf?

But to answer your question specifically, what we’ve been doing over these last few years is to expand the types of Topgolf venues that would ensure good returns in different-sized cities. So, to say what might be obvious, you can put a bigger facility in larger towns, in Atlanta and Dallas and Houston and Chicago, etc., have one or more of the 102-bay venues. We have a medium-sized venue type, as we call it, which is 72 bays; examples would be places like Baton Rouge and Tucson and cities that are more medium-sized.

Is Topgolf a traditional golf course?

Brewer: That’s a great question; I’ll answer it and then let [Topgolf CEO] Dolf talk. Topgolf is not traditional golf, but it is golf.

Does Topgolf have driving ranges?

And then of course there are Topgolf’s other associated businesses, like Toptracer Range, which is incorporated at driving ranges. And obviously avid golfers go to ranges, so that’s not a big leap. They have the ability to make the range more fun, more exciting and more engaging for golfers of all abilities.

Does Topgolf have premium clubs?

Berle: I should say that in every Topgolf venue, there is the ability to upgrade to premium clubs. And all of our premium clubs are already Callaway.

Is golf a first time experience?

And so we just make it easy to start in a fun environment, in a social environment. And you need look no further than the people who play in high heels or work boots or hightops or any number of things that would suggest people are not invested yet in golf gear to understand that for many it’s a first-time experience.

Who is the CEO of Topgolf?

Topgolf CEO Dolf Berle thinks that the partnership with Callaway brings valuable infrastructure that “can help accelerate the progress we’re making globally.”

How much is Topgolf worth?

How much Topgolf is worth. Once the deal with Callaway gets finalized, Topgolf will be valued at $2 billion. Callaway is also assuming Topgolf’s debt, which is approximately $555 million. Topgolf’s revenue in 2019 was $1.1 billion, with 30 percent average annual growth since 2017.

How many people can be in a topgolf bay?

Each bay at a Topgolf venue accommodates up to six people and has ball tracing technology to enhance their experience. The Motley Fool reported that “its Toptracer technology has been shown to increase engagement and traffic at its venues.” Also, venues have full-service restaurants and bars, plenty of HDTVs, and music.

How many Topgolf venues are there in 2020?

Article continues below advertisement. Currently, Topgolf has over 60 venues in four countries.

When was Topgolf Entertainment Group founded?

Feb. 9 2021, Updated 1:08 p.m. ET. Topgolf Entertainment Group was founded in 2000 in the United Kingdom. In 2006, investments from Callaway brought the company to the U.S. Topgolf combines sports with technology to make golf entertaining for more people.

How much revenue does Topgolf have in 2019?

Topgolf’s revenue in 2019 was $1.1 billion, with 30 percent average annual growth since 2017. The combined company in 2019 would have had revenue of $2.8 billion in fiscal 2019. The revenue is anticipated to grow to $3.2 billion by 2022.

Is Callaway a topgolf company?

Callaway CEO Chip Brewer said that the two companies fit well together. Callaway is a premier golf equipment company and Topgolf helps attract more people to the sport. Since many golfers bring non-golfer friends to venues, they become potential new customers for Callaway. The merger presents opportunities for cross-selling.

Who owns Topgolf?

Topgolf is owned by Callaway Golf Co. They were acquired by Callaway in 2021.

When did Topgolf acquire Topgolf?

Topgolf International (US) acquired Topgolf (UK) in 2009 and then later the Topgolf Intellectual property aspects later in July.

What is Topgolf?

Topgolf is a global sports entertainment company offering 50+ locations throughout the U.S., U.K., Australia, and Mexico.

When did Callaway Golf go public?

Callaway Golf Company went public on the New York Stock Exchange (NYSE) in February of 1992.

How many locations were opened for the Inc 500 magazine in 2013?

In 2013, 10 locations were opened and the next year saw total sales of $163.5 million to make the magazine, Inc. 500.

Where was the first topgolf?

The first Topgolf location was built in Watford, just outside of London , England, in 2000.

Is Callaway a golf brand?

Callaway is already one of the leading brands in golf, and this acquisition could be a game-changer in the long term for this company.

What is Topgolf Entertainment Group?

Topgolf Entertainment Group’s leadership team has diverse backgrounds from a broad set of industries with a proven history of building scalable global operations and navigating the world of experiential sports entertainment, technology and culture.

Where did Steve work before Topgolf?

Prior to joining Topgolf, Steve worked at Catalina Marketing Corp., a personalized media communications company, as Vice President for the U.K., Germany, Italy and Benelux regions for nine years. Additionally, Steve worked in a variety of leadership roles at Kimberly-Clark for 13 years in covering Trade Marketing, Category Management and Sales.

What is WRG in investment?

WRG is a collaboration of leading investment firms providing integrated capital solutions to the global innovation economy. In 2018, Anderson became Executive Chairman of Singularity University, a global community using exponential technologies to tackle the world’s biggest challenges. Anderson is also the Executive Chairman ...

Who is Eldridge Burns?

Eldridge Burns serves as Topgolf Entertainment Group General Counsel and oversees legal matters for all company departments. Eldridge is known for calm leadership and expertise while also providing strategic legal counsel for key initiatives throughout the organization.

When did Craig join Topgolf?

Craig joined Topgolf in 2016 following a successful career in the global finance industry. At the time Craig joined Topgolf, the company had ~6,000 Associates and 14 venues. Since then, Topgolf has grown to more than 55 US venues with more than 20,000 Associates. Along the way, Craig has played a crucial role in shaping the deeply caring and edgy Topgolf culture, inspired by the idea of Creating Moments That Matter For Everyone.

Who is Chris Callaway?

Chris Callaway serves as Chief Development Officer for Topgolf Entertainment Group , leading the Real Estate Development, Design and Construction teams. Chris oversees the site selection for Topgolf venue expansion across the globe and works to ensure that the brand is a catalyst for local economic growth in the communities where Topgolf operates.

Who is Steve Lane?

Steve Lane serves as Vice President, International Strategy & Franchise Management for Topgolf Entertainment Group , leading the International team and overseeing the company’s global expansion strategy for all U.K.-based Topgolf venues and franchise partnerships across the globe. Steve is a dynamic leader who brings a wealth of experience in franchise contract development and negotiations to support Topgolf Entertainment Group’s aggressive growth to new markets, including the U.A.E., Mexico, Asia and Central Europe.

1. Diamond Resorts

Diamond Resorts is a timeshare company that offers destinations, events, and experiences, such as golfing. The company has more than 379 vacation destinations in its network across 35 countries globally.

2. Drive Shack

Drive Shack is a country club that offers golf-related activities, leisure, and entertainment. Both Drive Shack and Top Golf offer semi-indoor driving ranges, food and drinks, and family-friendly games. But Drive Shack is less crowded and cheaper than Topgolf. In 2021, Drive Shack earned nearly $300 million in revenue. [ 4]

3. ClubCorp

ClubCorp is America’s largest owner and operator of private golf and country clubs. The company operates more than 200 golf and country clubs, city clubs, sports clubs, and stadiums in 27 states. In 2021, ClubCorp had about 17,000 employees and made over $1.1 billion.

4. Salamander Innisbrook

Salamander Innisbrook is a sports entertainment company that operates a luxurious golf and spa resort. Its venues offer golf courses, tennis courts, hiking trails, spas, pools, and water parks. The company has 155 employees across all of its locations and generates $22.37 million in revenue.

5. The Trump Organization

The Trump Organization is a real estate development and property management company owned by former US President Donald Trump. The company consists of 500 business entities, including several golf clubs in North America, Europe, and Asia.

6. BigShots Golf

ClubCorp-owned BigShots Golf offers all-in-one sporting venues. Its gaming platform uses Doppler radar, an industry-leading ball-tracking technology. According to ClubCorp’s estimates, BigShots Golf generates around $13 million in revenue annually.

7. Main Event

Main Event is an entertainment company owned and operated by Ardent Leisure. More than 20 million guests visit its venues annually to indulge in indoor and outdoor activities, such as gravity ropes, laser tag, and billiards. In 2020, Main Event had around 1000 employees and made $232 million in revenue.

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Overview

Topgolf is a golf driving range game with electronically tracked golfballs and automatically scored drives that started in 2000 and grew to become an American multinational sports entertainment company. Headquartered in Dallas, Texas, it has locations in the United States, United Kingdom, Australia, Germany, Mexico and the United Arab Emirates. In October 2020, publicly traded Callawa…

History

Twin brothers Steve and Dave Jolliffe had sold their mystery shopping business and were looking for a new project in 1997. Both golfers, they began complaining about golf's issues: the time factor and lackluster driving ranges. Looking to improve the game, the Jolliffes looked to the then-new commercial microchip technology and placed it in the golf ball. From this, they designed a …

Merger with Callaway

On October 27, 2020, Callaway Golf Company announced it would acquire Topgolf for $2 billion. At the time, Callaway held a 14% share of Topgolf. Callaway had invested in Topgolf since 2006, with CEO Chip Brewer serving on the Topgolf board since 2012.

Games

Topgolf games can be played by all ages and skill levels, and the micro chipped golf balls score themselves, providing players with instant feedback on each shot's accuracy and distance.
• Top Golf – Players aim for 11 giant dartboard-like targets. The further the shot goes and the closer to the pin, the more points the player receives.
• Top Break – has a snooker based format in which a player must hit a red target then a coloured target. The higher value colours, the more p…

Locations

There are currently 50+ Topgolf locations, three in the United Kingdom, and one in Australia, Germany, Mexico, and the UAE. Each Topgolf venue features climate-controlled hitting bays for year-round play, food, beverage, music and HDTVs on which various sports games are shown, such as football, basketball and golf. Topgolf also offers golf lessons, leagues, tournaments, concerts, an…

External links

• Official website
• Topgolf Media

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