Top Golf is already having a huge effect on the game of golf in the US for younger players where it has locations. As it expands that effect will be felt nationally. $ELY owns ~20% of it and has a gold mine on its hands. The best part is it is held on their books at their cost of investment to date, ~$50M, a fraction of what it is currently worth (and even less of what it will be when they get to 75-100 locations from the current 22).
Watch for the mega-location being built on the strip in Vegas (at the MGM)…….it will introduce the concept to the ~4MM worldwide visitors who come to Vegas each year. When it opens there in the Spring of 2016, interest in it explodes….
FORT WORTH
Topgolf, the popular driving range and lounge concept based in Dallas, officially revealed Tuesday that it’s bringing its game to Fort Worth.
Topgolf will build a 65,000-square-foot facility near the southeast corner of Texas 121 and Interstate 35W, in the shadow of downtown. Construction is expected to begin this fall on the site north of Fourth Street and west of the Trinity River, with the opening planned for late summer 2016.
“Fort Worth is a perfect complement to our other DFW locations as it will allow us to attract fans from the west side of the Metroplex,” said Zach Shor, Topgolf’s vice president of real estate. “This location will offer great visibility from two major highways, proximity to the downtown area and beautiful views of the city.”
In May, the Star-Telegram reported that Topgolf was looking at three Fort Worth locations, including the one it announced Tuesday.
Topgolf has 22 locations worldwide, including in Dallas, Allen and The Colony. Its high-tech approach to golf uses microchipped golf balls to keep track of scores as players hit at targets. It also offers an extensive food and beverage menu, plus more than 300 flat-screen TVs and regular events. Prices range from $20 to $40 for a one-hour rental of a bay. Memberships are also available.
The Fort Worth complex will be three levels and include 102 climate-controlled hitting bays that can host up to six players at once. The new venue will also include 3,000 square feet of private event and meeting space.
“We are very excited about the announcement of Topgolf coming to Fort Worth,” said Robert Sturns, Fort Worth’s acting economic development director. “Topgolf facilities have proven to be a strong entertainment and tourism draw within the Metroplex, and I’m confident that they will enjoy great success in Fort Worth as well.”
Read more here: http://www.star-telegram.com/news/business/article36906240.html#storylink=cpy
Narrow definitions aside, there is a new golf game in town. But Topgolf, a three-decker driving range at 10611 Nall Ave., is more game than golf.
From climate-controlled bays, players hit microchipped golf balls at targets on an outfield. It’s like playing darts with a ball and club. And it’s like golf, minus the walking.
Servers bring food and drinks from the bustling bar on the main floor. And instead of quiet surroundings, Smash Mouth and similar music plays. Loudly.
The 65,000-square-foot Overland Park site, which opened in June, is one of the company’s 18 locations worldwide. And in its first couple of months, it’s been the second busiest.
David Kim, director of operations for the Overland Park location, said half of Topgolf guests describe themselves as non-golfers.
Even the company website is made to appeal to the inexperienced.
“Golf skills are definitely not required to have fun at Topgolf,” the site reads. “Our extensive food & drink menu, 200+ HDTVs and addictively fun games provide something for everyone!”
Kim said Topgolf is not in competition with the traditional sport. Instead, it’s meant to introduce golf to a larger audience.
“Golf can be intimidating and expensive,” Kim said. “If people can come in and experience the sport for $20 an hour — no equipment, no rulebook — they may just grow a passion for it and find themselves on the course.”
With extended hours — open until 12 a.m. during the week and 2 a.m. on the weekends — Topgolf makes itself accessible.
The cost: $20/hour per bay during the day or $40/hour at night — a price that can be split among up to six people.
And, when the golfers next to you are playing barefoot or, alternatively, in 4-inch heels, you get the feeling that no one is really keeping score.
“If golf is going to be rescued, courses will have to be open to elements of change,” Kim said.
He pauses, laughs and says: “I mean, I hope you never see Frisbee golf at Pebble Beach.”
But, he says, when a new generation of golfers could be driven to the game by technology, or, perhaps, Tiger Woods 2.0, temporary solutions might do the trick.
“We hope that in the next five to 10 years there will be a pro golfer that says, ‘I hit my first ball at Topgolf,’ ” Kim said. “Maybe it’s Topgolf that could save the sport.”
Read more here: http://www.kansascity.com/news/local/community/joco-913/article36894621.html#storylink=cpy