![]() Additionally, the Company’s three Puttery venues generated total revenue of $4.5 million in the second quarter this year, which included $1.0 million in total event revenue. While slightly down to last year, the four Drive Shack venues drove a strong events business with $3.2 million in total event revenue this quarter, up $1.6 million or 106% versus the second quarter last year. Total revenue at the Company’s four Drive Shack venues totaled $11.2 million in the second quarter this year compared to $11.6 million in the same period last year. The Company’s entertainment golf business, comprised of both Drive Shack and Puttery venues, generated total revenue of $15.7 million in the second quarter 2022, an increase of $4.1 million, or 35.6% compared to $11.6 million in the second quarter 2021. Total revenue for the second quarter 2022 was $86.7 million, an increase of $12.8 million or 17.3%, compared to $73.9 million in the same period last year. We are gaining clear proof of concept with our Puttery brand, and we are confident it presents the best path-forward for growth and profitability for the foreseeable future." Puttery Houston is planned to open next month and Chicago will follow shortly thereafter. Our newest Puttery opened on June 21st in Washington D.C.’s Penn Quarter and while they are still in their initial stages of operations, their key metrics are aligning closely to those in The Colony and Charlotte. Khouri continued, "Puttery delivered another quarter of great results, with walk-in revenue trending well ahead of our expectations. We have seen the demand for future events across both the corporate and social categories continue to rise, which will translate into strong revenue results in the back half of this year." "Event revenue was up significantly this quarter at over $10 million higher than last year’s second quarter. We have a solid foundation in our core businesses with our Drive Shack venues and American Golf courses and each continues to deliver exceptional results," said Drive Shack Inc.’s President and Chief Executive Officer Hana Khouri. "Our sales results this quarter reflect the strong momentum we continue to see across our entire brand portfolio. (the "Company") (NYSE: DS), a leading owner and operator of golf-related leisure and entertainment businesses, today reported its financial results for the three and six months ended June 30, 2022. Puttery Venues Delivered Total Revenue of $4.5 Million in Second Quarter 2022ĭALLAS, August 09, 2022-( BUSINESS WIRE)- Drive Shack Inc. It does not store any personal data.Second Quarter 2022 Total Company Revenue of $87 Million, Up 17% Compared to Second Quarter 2021 Led by Increased Event Sales and New Puttery VenuesĪmerican Golf Event Revenue up 311% and Drive Shack Event Revenue Up 106% Compared to Second Quarter 2021 The cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. The cookie is used to store the user consent for the cookies in the category "Performance". This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other. ![]() The cookies is used to store the user consent for the cookies in the category "Necessary". The cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional". ![]() The cookie is used to store the user consent for the cookies in the category "Analytics". These cookies ensure basic functionalities and security features of the website, anonymously. Necessary cookies are absolutely essential for the website to function properly.
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