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) announced the reopening of its Orlando entertainment golf venue on December 18, 2020. The Company aims to enhance guest experiences through new initiatives, including partnerships with local businesses and various revenue-generating promotions. Enhanced safety measures will be in place, ensuring a safe environment for visitors. The venue will operate under limited hours, and the reopening comes amid a resurgence in demand observed in other locations.
Drive Shack Inc. (NYSE: DS) reported its Q3 2020 financial results, revealing total revenues of $66.5 million and a loss of $10.8 million, a reduction from the previous year's $13.4 million loss. The company managed to increase cash reserves to $44 million, primarily from selling the Rancho San Joaquin golf course for nearly $34 million. Traditional golf membership sales surged by 48%, while member rounds grew 36% year-over-year. Despite ongoing restrictions, the company’s entertainment venues generated approximately $6 million in Q3.
Drive Shack Inc. (NYSE: DS) announced the release of its third quarter 2020 financial results, scheduled for November 3, 2020, after NYSE closing. Management will conduct a conference call on November 4, 2020, at 9:00 A.M. Eastern Time to discuss these results. Investors can access the earnings release on the company's Investor Relations website. The call can be accessed via phone or a public webcast, with a telephonic replay available until November 18, 2020. Drive Shack is a leading owner and operator in the golf-related leisure and entertainment sector.
Drive Shack Inc. (NYSE: DS) announced the sale of its Rancho San Joaquin golf course in Irvine, California, to a private investment group, receiving net proceeds of approximately $33.6 million. This transaction is part of the company's asset monetization strategy, allowing continued operation of the course through its subsidiary, American Golf. The proceeds will fund strategic growth initiatives, including new venues in New Orleans and Dallas, and help navigate current market conditions. CEO Hana Khouri emphasized the importance of this sale in achieving long-term financial goals.
Drive Shack Inc. (NYSE: DS) has launched two new offerings aimed at enhancing guest experiences while ensuring safety during the COVID-19 pandemic. The limited-time 2-bay package accommodates small groups of up to 10, featuring a $200 food and beverage credit and two hours of play for as low as $20 per guest. Additionally, the 'Bays All Day' package allows companies to host outings for groups of up to 60 people throughout the day. These initiatives prioritize health and safety while aiming to drive traffic to Drive Shack's venues.