![]() ![]() The Puttery will combine auto-scoring technology, with a lively cocktail bar and food to cater to groups of friends and event planners looking for new venues and golf-oriented experiences that don’t require the time, planning and physical exertion of 18 holes. It will cost $7 to $ll million in development costs, compared to $25 to $40 million for its driving range concept. It’s basically Topgolf meets mini golf.ĭrive Shack, hopes to open its first “Puttery” chain in the Dallas area this summer and to have 17 in operation by the end of 2022. The Puttery elevates the familiar mini-golf concept to a mature audience looking for a night on the town with friends. At the same time, it announced its aggressive growth strategy for its new Puttery chain, which it says will be more profitable than its Topgolf-like driving range concept. Now the company is a subsidiary of Drive Shack Inc., which hopes to be the king of mini golf.ĭrive Shack had a public offering of additional shares last month, selling $50 million in stock. Sign up to keep your eye on what’s new and next in Dallas-Fort Worth, every day.American Golf was once the largest golf course management company in the world. Its portfolio consists of American Golf, Drive Shack, and Puttery.ĭrive Shack Inc., which announced plans to voluntarily delist from the NYSE in December 2022, joined the OTCQX Best Market (DSHK) in January 2023 and secured a $26.5 million senior secured term loan facility in March 2023 to finance the construction of its Puttery venues that are currently being developed. owns and operates golf-related leisure and entertainment businesses focused on bringing people together through competitive socializing. The company said the departures of Khouri and Buchhorn were not the result of any disagreement regarding any matter relating to its operations, financial statements, internal controls, auditors, policies or practices.ĭrive Shack Inc. The company also announced that Kelley Buchhorn has stepped down from her role as interim chief financial officer, and that it has engaged with external finance and accounting professionals to take on Buchhorn’s responsibilities on an interim basis to supplement the internal team.ĭrive Shack said it expects to name a CFO as it completes its search for a permanent CEO. “Looking ahead, we remain focused on expanding our footprint, with additional locations set to open this year, and offering premier experiences for our guests, and we are confident in our talented team to continue the success we’ve seen over the past few years,” he said.Ĭompton has worked directly for Edens for the past seven years, managing investments and operations for successful companies across hospitality, healthcare, sports, and entertainment industries, Drive Shack said. In a statement, Drive Shack Chairman Wes Edens said the company is pleased to have Mike Compton lead the company through the transition, given his expertise in investment management and operations. The company said a search for a new chief executive has begun.Ĭompton is a seasoned executive who has been working closely with the executive team for the past six months. ![]() announced that Mike Compton has been appointed interim CEO after the departure of CEO Hana Khouri this week. ![]()
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