Lee Brice attends the ACM Lifting Lives TOPGOLF Tee-Off at TOPGOLF on April 06, 2019 in Las Vegas, Nevada.Callaway Golf, the $1.8 billion golf club maker, just bought Topgolf. The deal would value Topgolf at $2 billion, per aTopgolf is an entertainment company that operates outdoor and indoor golf games. The company generated $1.1 billion in revenue in 2019 and has grown at a 30% compound annual rate since.
"Topgolf is the best thing that happened to golf since Tiger Woods," Callaway CEO Chip Brewer said in an interview withCallaway initially invested in Topgolf in 2006 for 14% of the company. Callaway expects Topgolf to grow significantly after reporting a 233% increase in revenue in the past three years. Topgolf had 23 million total guests in 2019, with over half of customers identifying as non-golfers.
"Millennials want a parallel experience, and Topgolf is built on four things everyone loves – play, food and drinks, music and community" Erik Anderson, co-chairman Topgolf Entertainment Group, told
Cocktails + Appetizers + Lighted Targets = Great Golf Experience
Why would millennials care either way?
thestevenwoods Is it still happening in San Diego? Let's get to the bottom of it thestevenwoods
Smart. Top golf is a social scene much more than a driving range, yet can be both. It’s a shame the two top golf places around NYC are out east. Randall’s island would be the perfect location for one.
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