PopStroke to Open its First Orlando Location at Waterford Lakes Town Center
Washington Prime Group Inc. (NYSE: WPG) announced that PopStroke, co-owned by Tiger Woods, will open a new location in Orlando, Florida, at Waterford Lakes Town Center in late 2021. The facility will feature two 18-hole courses, a restaurant, outdoor games, and an event space. This marks a significant expansion for PopStroke, which currently operates in Port St. Lucie and Fort Myers, with additional locations planned statewide. The partnership with Washington Prime is poised to enhance entertainment options in a prominent tourist area.
- New PopStroke location expands entertainment offerings at Waterford Lakes, boosting local engagement.
- Partnership with Tiger Woods enhances brand visibility and attracts more visitors.
- PopStroke’s expansion aligns with increasing demand for family-friendly attractions in tourism-heavy regions.
- Forward-looking statements indicate substantial doubt about WPG's ability to continue as a going concern.
- Possible bankruptcy risks may significantly affect WPG's financial stability and shareholder value.
Washington Prime Group Inc. (NYSE: WPG) today announced PopStroke, a family-oriented, hi-tech putting and entertainment experience, will open in late 2021 at Waterford Lakes Town Center, in Orlando, Florida. PopStroke is owned by Tiger Woods and Greg Bartoli, with courses designed by Tiger Woods and TGR Design.
Construction is expected to begin later this month for two 18-hole courses. PopStroke will also feature a restaurant and bar offering food, soft drinks, cocktails, wine, craft beer and ice cream enjoyed in the restaurant or ordered from the PopStroke App to be delivered on the golf course. There is an outdoor beer garden with outdoor games, including ping pong and cornhole, along with a dedicated events space providing ample room for groups to host events.
“We are extremely excited to open a PopStroke location in Orlando – bringing our unique putting and entertainment experience to the greatest tourism market in the country,” said Greg Bartoli, PopStroke Founder. “PopStroke is about bringing friends and family together in a dynamic, fun and interactive environment and Waterford Lakes is the perfect location to do just that. We are equally excited to partner with Washington Prime as we continue our rapid expansion throughout Florida and beyond.”
With two current locations in Port St. Lucie and Fort Myers, Florida, and upcoming locations planned in Orlando, Sarasota, Tampa, Delray Beach, Houston, Glendale and Scottsdale, PopStroke provides a combination of golf, technology, dining, family-fun, and events.
Waterford Lakes Town Center is Orlando’s premier outdoor lifestyle center offering easy access to national retailers, local shops, and various restaurants. Entertainment abounds, and guests can stroll through more than five acres of lakes, fountains, and park-like settings.
About PopStroke Entertainment Group
PopStroke is an experiential golf and casual dining concept merging a dynamic, technologically advanced competitive golf environment with food and beverage. Headquartered in Jupiter, Florida, PopStroke has a dedicated team of experienced professionals in the food, beverage and hospitality fields. PopStroke offers an expansive variety of craft beer, wine, ice cream and food at every location, while delivering an interactive and competitive golf experience for all players. Founded in 2018 by Greg Bartoli, the company is co-owned by Tiger Woods with courses designed by TGR Design. Learn more at www.popstroke.com.
About Washington Prime Group
Washington Prime Group Inc. is a retail REIT and a recognized leader in the ownership, management, acquisition and development of retail properties. The Company combines a national real estate portfolio with its expertise across the entire shopping center sector to increase cash flow through rigorous management of assets and provide new opportunities to retailers looking for growth throughout the U.S. Washington Prime Group® is a registered trademark of the Company. Learn more at www.washingtonprime.com.
Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 which represent the current expectations and beliefs of management of Washington Prime Group Inc. (“WPG”) concerning the proposed transactions, the anticipated consequences and benefits of the transactions and the targeted close date for the transactions, and other future events and their potential effects on WPG, including, but not limited to, statements relating to anticipated financial and operating results, the Company’s plans, objectives, expectations and intentions, cost savings and other statements, including words such as “anticipate,” “believe,” “confident,” “plan,” “estimate,” “expect,” “intend,” “will,” “should,” “may,” and other similar expressions. Such statements are based upon the current beliefs and expectations of WPG’s management, and involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements of WPG to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, without limitation; the Company has determined that there is substantial doubt about its ability to continue as a going concern; there is no assurance that the Company will be able to reach an agreement in principle regarding a restructuring, comply with the terms of any such agreement or successfully complete a restructuring contemplated thereby, creating substantial doubt about WPG’s ability to continue as a going concern; the Company may seek the protection of a bankruptcy court, which would subject it to the risks and uncertainties associated with bankruptcy and may harm the Company’s business and place its equity holders at significant risk of losing all of their investment in the Company; the Company’s limited liquidity could materially and adversely affect its business operations; changes in asset quality and credit risk; ability to sustain revenue and earnings growth; changes in political, economic or market conditions generally and the real estate and capital markets specifically; the impact of increased competition; the availability of capital and financing; tenant or joint venture partner(s) bankruptcies; the failure to increase store occupancy and same-store operating income; risks associated with the acquisition, disposition, (re)development, expansion, leasing and management of properties; changes in market rental rates; trends in the retail industry; relationships with anchor tenants; risks relating to joint venture properties; costs of common area maintenance; competitive market forces; the level and volatility of interest rates; the rate of revenue increases as compared to expense increases; the financial stability of tenants within the retail industry; the restrictions in current financing arrangements or the failure to comply with such arrangements; the liquidity of real estate investments; the impact of changes to tax legislation and WPG’s tax positions; losses associated with closures, failures and stoppages associated with the spread and proliferation of the coronavirus (COVID-19) pandemic; to qualify as a real estate investment trust; the failure to refinance debt at favorable terms and conditions; loss of key personnel; material changes in the dividend rates on securities or the ability to pay dividends on common shares or other securities; possible restrictions on the ability to operate or dispose of any partially-owned properties; the failure to achieve earnings/funds from operations targets or estimates; the failure to achieve projected returns or yields on (re)development and investment properties (including joint ventures); expected gains on debt extinguishment; changes in generally accepted accounting principles or interpretations thereof; terrorist activities and international hostilities; the unfavorable resolution of legal or regulatory proceedings; the impact of future acquisitions and divestitures; assets that may be subject to impairment charges; significant costs related to environmental issues; changes in LIBOR reporting practices or the method in which LIBOR is determined; and other risks and uncertainties, including those detailed from time to time in WPG’s statements and periodic reports filed with the Securities and Exchange Commission, including those described under “Risk Factors”. The forward-looking statements in this communication are qualified by these risk factors. Each statement speaks only as of the date of this press release and WPG undertakes no obligation to update or revise any forward-looking statements to reflect new information, subsequent events or circumstances. Actual results may differ materially from current projections, expectations, and plans, if any. Investors, potential investors and others should give careful consideration to these risks and uncertainties.
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