OTCQX:DSHK

Drive Shack Inc. Amends and Restates Tax Benefits Preservation Plan

Retrieved on: 
Tuesday, May 7, 2024
Commercial Building & Real Estate, Construction & Property, Sports, Restaurant, Bar, Other Entertainment, Golf, Retail, Entertainment, Exhibit, Tax, DSHK, OTCQX

Drive Shack Inc. (the “Company”) (OTCQX: DSHK), a leading owner and operator of golf-related leisure and entertainment businesses, has announced that it has amended and restated its existing tax benefits preservation plan in order to accommodate technical changes to the rights available thereunder in connection with DS’s listing on OTCQX and delisting from the New York Stock Exchange, effective January 3, 2023.

Key Points: 
  • Drive Shack Inc. (the “Company”) (OTCQX: DSHK), a leading owner and operator of golf-related leisure and entertainment businesses, has announced that it has amended and restated its existing tax benefits preservation plan in order to accommodate technical changes to the rights available thereunder in connection with DS’s listing on OTCQX and delisting from the New York Stock Exchange, effective January 3, 2023.
  • The amended and restated plan contains substantially identical terms to the Tax Benefits Preservation Plan dated May 22, 2022.
  • In order to comply with the listing requirements of the OTCQX, the Company is including a summary of the New Plan as Exhibit 1 to this announcement.
  • For additional information that management believes to be useful for investors, please refer to the presentation posted on the Company’s investor relations website, https://ir.driveshack.com .

Drive Shack Inc. Announces Grand Opening of Puttery New York City

Retrieved on: 
Monday, March 11, 2024
Sports, Restaurant, Bar, Golf, Wine & Spirits, General Entertainment, Food, Beverage, Retail, Entertainment, Art museum, Multimedia, Beer, Wine, OTCQX, DSHK, DSI, Nightclub

Drive Shack Inc. (DSI), (OTCQX: DSHK), the leading owner and operator of golf-related leisure and entertainment businesses, today announces the opening of its flagship location of Puttery, bringing the wildly popular mini-golf and nightlife experience to New York City.

Key Points: 
  • Drive Shack Inc. (DSI), (OTCQX: DSHK), the leading owner and operator of golf-related leisure and entertainment businesses, today announces the opening of its flagship location of Puttery, bringing the wildly popular mini-golf and nightlife experience to New York City.
  • The adult-only, 24,000-square-foot venue spans five levels and three bars, including a year-round rooftop bar equipped with heat lamps and a private underground lounge.
  • Combining immersive, tech-enabled mini golf with elevated cuisine and cocktails, Puttery NYC brings a first-of-its-kind experience to the neighborhood.
  • Puttery NYC is located at 446 W 14th St, New York, NY 10014.

Drive Shack Inc. Announces Third Quarter 2023 Financial Results

Retrieved on: 
Thursday, February 8, 2024
Entertainment, Golf, Sports, Other Entertainment, Commercial Building & Real Estate, Construction & Property, General Sports, Segment, DSHK, Beauty salon

Drive Shack Inc. (the “Company”) (OTCQX: DSHK), a leading owner and operator of golf-related leisure and entertainment businesses, has reported its financial results for the third quarter of 2023.

Key Points: 
  • Drive Shack Inc. (the “Company”) (OTCQX: DSHK), a leading owner and operator of golf-related leisure and entertainment businesses, has reported its financial results for the third quarter of 2023.
  • - Adjusted EBITDA(1) of $10 million in the third quarter of 2023 and $29 million in the first nine months of 2023, compared to $7 million and $13 million for the corresponding periods in 2022
    -Revenue of $100 million in the third quarter of 2023 and $276 million in the first nine months of 2023, up 13% and 14% from the corresponding periods in 2022
    - Segment revenue for traditional golf (American Golf) in the third quarter of 2023 of $79 million and $213 in the first nine months of 2023, up 10% and 13% from the corresponding periods in 2022
    - Segment revenue for entertainment golf (Drive Shack and Puttery) in the third quarter of 2023 of $21 million and $62 million in the first 9 months of 2023, up 27% and 33% for each of the comparative periods in 2022
    The Company attributed the revenue growth at American Golf primarily to an average increase in ADR (average daily rounds) for Greens fees and Cart Fees of 6.5% at existing courses and the addition of 3 leased courses at the beginning of 2023 - Marshall Canyon Golf Course (La Verne, CA), Allondra Golf Course (Lawndale, CA), and Don Knabe Golfing Center (Norwalk, CA)
    The entertainment golf revenue increase primarily reflected the addition of new Puttery locations in Chicago, IL (November 2022), Pittsburgh, PA (February 2023), Minneapolis, MN (July 2023), and Kansas City, MO (August 2023).
  • A full discussion and analysis of the Company’s results and other business information is available in the Company’s full quarterly report, which is available on the Company’s OTCQX landing page, www.otcmarkets.com/stock/DSHK , and on the Company’s investor relations website, https://ir.driveshack.com .

Drive Shack Inc. Announces Date for Release of Third Quarter 2023 Financial Results

Retrieved on: 
Wednesday, January 10, 2024
Golf, Sports, OTCQX, DSHK

Drive Shack Inc. (OTCQX: DSHK) (the “Company”) announced today that it plans to report its financial results for the quarter ended September 30, 2023, on Friday, February 2, 2024, at 4:30 pm.

Key Points: 
  • Drive Shack Inc. (OTCQX: DSHK) (the “Company”) announced today that it plans to report its financial results for the quarter ended September 30, 2023, on Friday, February 2, 2024, at 4:30 pm.
  • The results will be made available through the Company’s quarterly report for the third quarter 2023, available on the Company’s OTCQX landing page, www.otcmarkets.com/stock/DSHK , and on the Company’s investor relations website, https://ir.driveshack.com .
  • Drive Shack Inc. is a leading owner and operator of golf-related leisure and entertainment businesses focused on bringing people together through competitive socializing.
  • Today, our portfolio consists of American Golf, Drive Shack and Puttery.

Drive Shack Inc. Announces Grand Opening of Puttery Miami

Retrieved on: 
Monday, January 8, 2024
Luxury, Sports, Entertainment, Wine & Spirits, Golf, General Entertainment, Restaurant, Bar, Food, Beverage, Retail, OTCQX, Multimedia, DSHK, Friends, VIP, Paper, DSI, Library, Wine, Beer, Nightclub

Drive Shack Inc. (DSI), (OTCQX: DSHK), the leading owner and operator of golf-related leisure and entertainment businesses, announces that Puttery Miami will open to the public today, Monday, January 8 at 4pm ET.

Key Points: 
  • Drive Shack Inc. (DSI), (OTCQX: DSHK), the leading owner and operator of golf-related leisure and entertainment businesses, announces that Puttery Miami will open to the public today, Monday, January 8 at 4pm ET.
  • View the full release here: https://www.businesswire.com/news/home/20240108674050/en/
    Puttery Miami marks the brand’s first location in Florida and ninth nationwide, joining previously opened venues in Washington D.C., Dallas, Chicago, and more.
  • The adult-only, 17,800 square-foot space brings Puttery’s modern, immersive take on the classic game of mini golf to the Magic City.
  • Puttery’s three themed nine-hole courses with installations that beg to be photographed:
    Library - There’s nothing by-the-book about this exciting nine-hole course.

Drive Shack Inc. Reports Second Quarter 2023 Financial Results

Retrieved on: 
Wednesday, September 13, 2023
Entertainment, Golf, Sports, Other Entertainment, Commercial Building & Real Estate, Construction & Property, OTCQX, DSHK, Cryptocurrency, Online shopping

Drive Shack Inc. (OTCQX: DSHK) today reported its financial results for the three and six months ended June 30, 2023.

Key Points: 
  • Drive Shack Inc. (OTCQX: DSHK) today reported its financial results for the three and six months ended June 30, 2023.
  • These results are available in the Company’s quarterly report for the second quarter 2023, available on the Company’s OTCQX landing page, www.otcmarkets.com/stock/DSHK , and on the Company’s investor relations website, https://ir.driveshack.com .

Drive Shack Inc. Announces Grand Opening of Puttery Kansas City

Retrieved on: 
Wednesday, September 6, 2023
Entertainment, Retail, Golf, Sports, Restaurant, Bar, General Entertainment, Food, Beverage, Heart, Country Club Plaza, DSHK, DSI, Multimedia, OTCQX, CDT, Art museum, Nightclub, Amusement park

Drive Shack Inc. (DSI) , (OTCQX: DSHK) a leading owner and operator of golf-related leisure and entertainment businesses, today announced that Puttery Kansas City will open to the public at 4 p.m. CDT on Thursday, September, 14.

Key Points: 
  • Drive Shack Inc. (DSI) , (OTCQX: DSHK) a leading owner and operator of golf-related leisure and entertainment businesses, today announced that Puttery Kansas City will open to the public at 4 p.m. CDT on Thursday, September, 14.
  • View the full release here: https://www.businesswire.com/news/home/20230906643087/en/
    Located in Country Club Plaza, Puttery Kansas City’s grand opening will kick off the fall for Kansas City locals and visitors looking for a not-so-typical evening and weekend activity.
  • "We are thrilled to bring an innovative putting and culinary experience to the Country Club Plaza with the grand opening of Puttery Kansas City,” said General Manager, J.W.
  • Puttery will be the go-to spot for many.”
    Puttery Kansas City is located at 612 W 47th St.

Drive Shack Inc. Announces $13.5 Million Common Stock Rights Offering

Retrieved on: 
Monday, July 17, 2023
Golf, General Entertainment, Entertainment, Sports, OTCQX, Public expenditure, DSHK, Sale, Security (finance)

In the rights offering, each holder of the Company’s common stock as of the close of business on the record date will be issued, at no charge, one non-transferable subscription right for each whole share of common stock, par value $0.01, of the Company owned by that stockholder on the record date.

Key Points: 
  • In the rights offering, each holder of the Company’s common stock as of the close of business on the record date will be issued, at no charge, one non-transferable subscription right for each whole share of common stock, par value $0.01, of the Company owned by that stockholder on the record date.
  • No fractional shares of common stock will be issued in the rights offering.
  • The Company intends to use the proceeds of the rights offering for general corporate purposes, including the construction of Puttery locations and other capital expenditures at existing venues, and to cover fees and expenses relating to the rights offering.
  • The proposed rights offering will be made pursuant to an exemption from registration under the Securities Act of 1933.

Drive Shack Inc. Announces Grand Opening of Puttery Minneapolis

Retrieved on: 
Monday, July 17, 2023
Retail, General Sports, Commercial Building & Real Estate, Golf, Construction & Property, General Entertainment, Sports, Other Retail, Wine & Spirits, Restaurant, Bar, Urban Planning, Landscape, Entertainment, Interior Design, Food, Beverage, Other Construction & Property, OTCQX, DSHK, DSI, Art museum, Multimedia, Friends, CST, North Loop, Minneapolis, Nightclub, Amusement park

Drive Shack Inc. (DSI) , (OTCQX: DSHK) a leading owner and operator of golf-related leisure and entertainment businesses, today announced that Puttery Minneapolis will open to the public at 12 p.m. CST on Friday, July, 21.

Key Points: 
  • Drive Shack Inc. (DSI) , (OTCQX: DSHK) a leading owner and operator of golf-related leisure and entertainment businesses, today announced that Puttery Minneapolis will open to the public at 12 p.m. CST on Friday, July, 21.
  • View the full release here: https://www.businesswire.com/news/home/20230717517605/en/
    Located in the North Loop, Puttery Minneapolis's grand opening will kick off the summer for Minneapolis locals and visitors looking for a not-so-typical evening and weekend activity.
  • "We are thrilled to bring an innovative putting and culinary experience to the Midwest with the grand opening of Puttery Minneapolis,” said General Manager, Jeremy Boyer.
  • Puttery is a modern spin on putting which combines a lively atmosphere with themed courses for an immersive guest experience.

Drive Shack Inc. Reports First Quarter 2023 Financial Results

Retrieved on: 
Wednesday, June 21, 2023
Entertainment, Retail, Golf, Sports, Restaurant, Bar, General Entertainment, General Sports, OTCQX, DSHK, Cryptocurrency, Online shopping

Drive Shack Inc. (OTCQX: DSHK or the Company) has reported its financial results for the three months ended March 31, 2023.

Key Points: 
  • Drive Shack Inc. (OTCQX: DSHK or the Company) has reported its financial results for the three months ended March 31, 2023.
  • These results are available in the Company’s quarterly report for the first quarter 2023.
  • This report is available on the Company’s OTCQX landing page, www.otcmarkets.com/stock/DSHK , and on the Company’s investor relations website, https://ir.driveshack.com .