DS - DS STOCK NEWS

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.

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.