who ownes top golf

Does top golf have stock?

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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.

Who owns WGT and TopGolf?

Topgolf Entertainment Group (TEG) is the parent holding company of Topgolf, Topgolf International and Topgolf Media. TEG is led by Co-Chairman and CEO Erik Anderson. Topgolf is a global sports entertainment community creating the best times of your life, with 24 locations serving 8 million guests annually.

Is top golf publicly traded?

• The issues that affect the publicly traded companies listed below in the U.S. ...
• The company's shares soared throughout the 1990s, and in 1996, the company had a market capitalization above $1 billion. ...
• Callaway Is The Top Golf Brand In The World, But Has Room To Grow. ...

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Is Topgolf privately owned?

Topgolf garnered an investment from Callaway in 2006 and expanded to the United States, now the primary market for the company. Remaining privately-owned during those two decades, the company built locations in every region of the country. Topgolf began looking at an initial public offering in 2019.

Does Callaway own all of Topgolf?

With the acquisition complete, Callaway shareholders own 51.3 percent of the combined company and former Topgolf shareholders own 48.7 percent. Topgolf operates about 60 venues in North America.

What is Topgolf's net worth?

On October 27, 2020, Callaway Golf Company announced it would acquire Topgolf for $2 billion.

How much does a Topgolf owner make?

A Topgolf owner's salary is also $58,000 per year according to one franchisee we spoke with. Of course, you could pay yourself more depending on the annual revenue numbers for the business. Topgolf has won numerous awards for their services.

Who is Callaway owned by?

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

Does Ely own Topgolf?

Prior to their acquisition of Topgolf, ELY owned 14% (90 million shares) of its common stock. In October of 2020, ELY announced the acquisition for $2 billion.

How much does a Topgolf franchise make a year?

While a hefty sum to build, the average Topgolf facility returns roughly $21.5 million a year (adjusted for inflation). About half of that revenue is generated from food and drink, and the other half is made from customers paying for a Topgolf bay, for which they pay $30–$50 an hour.

How much does a Topgolf franchise cost?

Topgolf has a total initial investment range of $15 to $50 million. All inquiries for initial franchise and royalty fees, ad fees, net worth requirements, liquid cash requirements can be submitted to Topgolf Entertainment Group. Initial Investment: $15 - $50 million.

How much does Callaway make from Topgolf?

Due to the timing of the Topgolf acquisition on March 8, 2021, Callaway's reported full year financial results for 2021 only include approximately ten months of Topgolf results and therefore do not include January and February results which were in the aggregate $142.9 million in revenue and $2.3 million in Adjusted ...

Is Topgolf profitable?

Construction of a TopGolf venue typically costs from $10 to $40 million, and each venue typically collects about $17 million in revenue annually. TopGolf is profitable at the venue level as well, with EBITDAR typically amounting to about $5 million for each venue.

Who is Topgolf competitor?

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

What franchise makes the most money?

According to the Franchise 500 list of 2021, Taco Bell is the most profitable franchise to own.

Does Topgolf have Callaway 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.

What does Callaway Golf own?

Callaway Golf consists of 5 powerful brands — Callaway, Odyssey, Toulon Design, OGIO and TravisMathew – that together offer golfers all over the world everything they need – clubs, balls, bags, apparel, footwear, bags, accessories – to play better and enjoy the game more.

What did Callaway pay for Topgolf?

$2.6 billionThe acquisition of Topgolf for $2.6 billion redefined Callaway (NYSE:ELY) as a golf entertainment company.

Who builds Topgolf?

Supporting this consistent growth, ARCO/Murray Construction Company has provided design/build services for U.S. Topgolf locations since 2006. Partnering with its client and with Aria Group Architects, Inc., ARCO/Murray has helped create at least 60 Topgolf entertainment destinations with more planned.

Who owns Topgolf UK?

In 2009, Topgolf International (US) acquired Topgolf UK then in July from World Golf Systems the TopGolf intellectual property aspects. By 2011, WestRiver's head Erik Anderson took over the executive chairman post from Grogan. Anderson moved to have newer location be even larger, with a full line kitchen and executive chefs replacing small kitchens and more golfer space. Ten locations were opened in 2013. Topgolf had sales of $163.5 million in 2014 to make the Inc. 500. Mobile phone apps were issued in 2013, with social media digital walls added to locations in 2015.

Where was Topgolf built?

From this, they designed a new game, Topgolf, which is a redesigned driving range. In Watford, just outside London, the twins built the first location, which opened in 2000.

How many Topgolf locations are there?

There are currently 50+ Topgolf locations, three in the United Kingdom, and one in Australia and Mexico. 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.

How much did Topgolf pay in 2021?

In September of 2021, the U.S. Department of Labor forced Topgolf to pay 255 employees, in 25 states, over $750,000 in back wages for unpaid overtime. Investigators said the company was paying sales managers and event sales consultants a salary plus commission, with no overtime after a 40 hour work week. They said those employees did not meet supervisory requirements, and were eligible for overtime pay. They added that the investigation was opened after the violations were found at the company’s Loudon, Virginia location.

What is a topgolf lounge?

TopGolf Lounge, or Lounge by Topgolf, is a smaller location with a live sports restaurant, a few public hitting bays and a special events bay plus virtual game simulators.

How many Topgolf locations were opened in 2013?

Anderson moved to have newer location be even larger, with a full line kitchen and executive chefs replacing small kitchens and more golfer space. Ten locations were opened in 2013. Topgolf had sales of $163.5 million in 2014 to make the Inc. 500.

How much did Village Roadshow sell in 2018?

In July 2018, Village Roadshow sold $50 million in shares to fund Topgolf and for other purposes. In August 2018, Topgolf Australia reduced its stake in the joint venture from 33% to 3.7% with options to boost its share back up to 33% before December 31, 2020.

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.

Where was the first swing suite?

Opened the very first Swing Suite in Four Seasons hotel in Houston, Texas

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.

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.

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.

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 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.

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.

Who is Chris from Topgolf?

Most recently, he served as the U.S. Vice President of Real Estate and Facilities Support for Sam’s Club. His main responsibilities included real estate, design, construction, remodeling and facilities maintenance.

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.

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.

Who owns Topgolf?

With the new merger, Callaway will own 51.5 percent of Topgolf. Other entities still have partial ownership of the entertainment company including Providence Equity Partners, WestRiver Group, and Dundon Capital Partners.

Who bought Topgolf Entertainment?

In a deal worth about $2 billion, Callaway Golf Co. plans to buy the remainder of Topgolf Entertainment Group, a sports entertainment company, according to Yahoo Finance. The companies expect the deal to be complete by early next year.

What is Callaway's stock price?

Currently, Callaway has a stock price of $15.77, which is a drop of almost $4 compared to Oct. 27. Google Finance shows that while this isn't the highest stock price Callaway has had in 2020, it's a big improvement from where it was earlier this year.

How many Topgolf locations are there?

Topgolf has 63 locations around the world with more planned to open. Aside from the U.S., there are also venues in the U.K. and Australia. Topgolf will open a venue in Dubai soon.

When did Callaway and Topgolf merge?

In 2006, Callaway and Topgolf had their first merger. According to a press release, the merger resulted in "maintained a strong partnership since." The deal allowed Callaway to have an exclusive agreement at all Topgolf locations.

Is Topgolf publicly traded?

Currently, Callaway, Dundon, WestRiver, and Providence Equity Partners are Topgolf's lead investors. The company isn't publicly traded, but Callaway trades on the NYSE under the ticker "ELY."

Where is Topgolf International based?

Topgolf International will be based in London and run by the company’s former CFO/COO Neil Allen.

Who is the president of Topgolf Media?

The president of Topgolf Media will be WGT Co-Founder and CEO YuChiang Cheng. All of the current WGT associates will now be employed by Topgolf Media, which is hiring to fill additional critical positions immediately.

Where is TEG headquarters?

TEG headquarters will remain in Dallas, with additional presence in San Francisco, New York, Seattle and London. Morgan Stanley & Co. LLC acted as financial advisor and Gibson Dunn & Crutcher LLP acted as legal advisor to Topgolf in connection with the acquisition of WGT.

Who acquired World Golf Tour?

DALLAS – Jan. 27, 2016 – Global golf entertainment leader Topgolf has acquired sports gaming company World Golf Tour (WGT), creating the world’s largest digital golf audience. In conjunction with the acquisition, Topgolf® is adding two new divisions and reorganizing its corporate structure with a holding company to support the organization’s rapid growth.

How many players are there in WGT?

The deal represents a convergence of the offline and online golf experience. WGT is the leading web and mobile golf game, with more than 14 million players worldwide across online, social and mobile platforms. Topgolf has 24 venues worldwide and served 8 million guests in 2015. It is opening venues in Las Vegas and several other key markets in 2016, increasing its projected annual attendance to more than 12 million this year.

Overview

History

Merger with Callaway

Games

Locations

External links