Drive Shack Inc (PK:DSHK)
Business Focus: Golf Courses
| Sector: Consumer Cyclicals | Industry: Leisure & Recreation |
| See Regulatory Filings on SEC | |
| Company Contact | |
| Address: | 10670 N. CENTRAL EXPRESSWAY, SUITE 700 DALLAS TX 75231 |
| Tel: | 1-646-5855591 |
| Website: | https://ir.driveshack.com |
| IR: | See website |
| Key People | ||
| Wesley Robert Edens Chairman of the Board | Hana Khouri President, Chief Executive Officer | Kelley Buchhorn Interim Chief Financial Officer, Head of Investor Relations and Treasurer |
| Business Overview |
| Drive Shack Inc. is an owner and operator of golf-related leisure and entertainment venues. The Company's segments include entertainment golf and traditional golf. The Entertainment Golf segment is comprised of Drive Shack venues that feature technology-enabled hitting bays within bay dining, full-service restaurants, bars, and event spaces and Puttery venues that feature indoor putting courses anchored by bars and other social spaces, as well as a full-service kitchen. The Traditional Golf segment is the operators of golf courses and country clubs in the United States. The Company owns, leases, or manages approximately 53 traditional golf properties across nine states. The Company operates over three Drive Shack venues located in Orlando, Florida; West Palm Beach, Florida; Raleigh, North Carolina, and Richmond, Virginia. It also leases four Puttery venues located in The Colony, Texas; Charlotte, North Carolina; Washington, D.C., and Houston, Texas. |
| Financial Overview |
| For the nine months ended 30 September 2023, Drive Shack Inc revenues increased 13% to $275.9M. Net loss applicable to common stockholders decreased 75% to $9.8M. Revenues reflect Traditional Golf segment increase of 9% to $214.2M, Entertainment Golf segment increase of 33% to $61.9M. Lower net loss reflects Traditional Golf segment income increase from $7.4M to $15M, Corporate segment loss decrease of 51% to $6.9M. |
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