Welcome to our dedicated page for DS news (Ticker: DS), a resource for investors and traders seeking the latest updates and insights on DS stock.
Drive Shack Inc. (DS) generates news as an owner and operator of golf-related leisure and entertainment businesses, with a portfolio that includes American Golf, Drive Shack venues and Puttery. Company announcements have highlighted developments across its entertainment golf and traditional golf operations, as well as important updates on its public company status and trading venue.
News about Drive Shack Inc. has included financial results, such as quarterly and full-year earnings releases that detail revenue from golf operations and from the sale of food and beverages, along with event revenue performance and the contribution of Puttery and Drive Shack venues. These releases often discuss operating income or loss, consolidated net income or loss and non-GAAP measures like Adjusted EBITDA, together with explanations of pre-opening costs and other items affecting results.
Another key category of news concerns Puttery, the company’s modern putting concept. Press releases have announced grand openings of new Puttery venues in cities such as Houston and Chicago, described themed nine-hole courses and venue layouts, and outlined event capabilities for corporate and social gatherings. Additional updates have covered new market entries, such as plans for a Puttery venue in Minneapolis.
Regulatory and capital markets developments also feature in Drive Shack Inc. news. The company has disclosed receiving a continued listing standard notice from the New York Stock Exchange related to its share price, and later announced its intention to voluntarily delist from the NYSE, deregister its securities and seek quotation on an OTC platform. Investors and observers can use this news stream to follow how Drive Shack Inc. communicates changes in its operations, venue expansion and public company status over time.
For anyone tracking DS, this news page offers a centralized view of the company’s official announcements on financial performance, venue openings, event-focused offerings and listing decisions.
Drive Shack Inc. (NYSE: DS) has entered a strategic investment agreement with golf superstar Rory McIlroy and his group, Symphony Ventures, committing at least $10 million for a 10% equity stake in each Puttery venue planned through 2023. This immersive golf entertainment concept will launch its first venues in Dallas and Charlotte this summer, with plans for a total of seven new locations by the end of 2021. Drive Shack anticipates quarterly cash distributions from venue net cash flows to investors, further expanding the Puttery brand's growth potential.
Drive Shack (NYSE: DS) is set to enhance Miami's entertainment landscape by opening Puttery in the Wynwood neighborhood. This venue will cover nearly 18,000 square feet, offering an upscale dining experience alongside a modern take on mini-golf. The new location is part of Drive Shack's initiative to add seven Puttery venues by the end of 2021, joining locations in Dallas, Charlotte, and Washington DC. CEO Hana Khouri highlighted the venue's potential integration into Wynwood's vibrant culture, appealing to both locals and visitors alike.
Drive Shack reported its first quarter 2021 financial results, showing significant recovery in walk-in sales, reaching 96% of pre-pandemic levels. Adjusted EBITDA improved to $2.7 million, a $7.4 million increase year-over-year. The company generated total revenues of $61.1 million, relatively stable compared to the previous year. However, the revenue from Drive Shack venues decreased by $1.9 million, mainly due to lower event revenue. Preferred stock dividends were declared, payable on July 30, 2021, with amounts varying by series.
Drive Shack Inc. (NYSE: DS) will report its Q1 2021 financial results on May 7, 2021, before market opening. The management will conduct a live conference call at 9:00 a.m. ET, accessible via telephone and webcast. Detailed earnings release will be available on Drive Shack’s Investor Relations website. A replay of the conference call will be offered for two weeks post-event. This announcement indicates a focus on transparency and accessibility for shareholders.
Drive Shack reported a strong fourth quarter for 2020, with positive Adjusted EBITDA of $5.3 million, a significant improvement from a loss of $2.1 million a year earlier. Revenue for its entertainment golf venues reached $7.2 million despite a decline due to pandemic restrictions. American Golf saw notable gains, with new membership sales up 20% and revenue from public courses increasing by 44%. The company declared dividends for preferred stock, payable on April 30, 2021, with amounts of $0.609375, $0.503125, and $0.523438 per share.
Drive Shack Inc. (NYSE: DS) will report its fourth quarter and full year 2020 financial results on March 12, 2021, before market opening. A live conference call is scheduled for 9:00 a.m. Eastern Time. Investors can access the earnings release on the company’s Investor Relations page. A telephonic replay of the conference call will be available later that day through March 26, 2021.
Drive Shack is recognized as a leading operator in golf-related leisure and entertainment.
Drive Shack announced a public offering of 20,833,334 shares at $2.40 each, raising approximately $50 million. The offering will close on February 2, 2021. Proceeds will be used for general corporate purposes and to develop five of seven planned Puttery venues in 2021. The underwriters have a 30-day option to purchase up to an additional 3,124,999 shares. BTIG, LLC and Craig-Hallum Capital Group LLC are managing the offering under Form S-3 registration with the SEC.
Drive Shack Inc. (NYSE: DS) announced a public offering of $50 million in common stock, subject to market conditions. The company plans to utilize the net proceeds for investments, working capital, and the development of five Puttery venues in 2021. An option to purchase an additional 15% of shares sold is available to underwriters for 30 days. The offering is underwritten by BTIG, LLC and Craig-Hallum Capital Group LLC, and will be made under a registration statement filed with the SEC. Investors should review the prospectus for detailed information.
Drive Shack (NYSE: DS) has partnered with golf superstar Rory McIlroy to enhance its entertainment golf brand, Puttery, featuring high-tech mini golf and premium food. McIlroy is personally investing in the expansion of Puttery venues, with the first location opening in Dallas this summer, followed by a Charlotte venue. The company plans a total of five locations by the end of 2021 and ten more by the end of 2022. The partnership terms are outlined in a non-binding memorandum, pending final documentation.
Drive Shack (NYSE: DS) has launched an online reservation system for single-bay bookings across its four locations, allowing groups of six or fewer to reserve a bay up to seven days in advance. President and CEO Hana Khouri noted strong demand during peak hours and aims to enhance guest convenience and predictability with this new system. The platform is designed to drive incremental traffic and optimize labor needs during off-peak hours. Guests can book through the company's website, with safety measures in place and reservations requiring upfront payment.