via Korri Kezar, Dallas Business Journal

Topgolf’s first venture outside the U.S. and United Kingdom will bring eight locations across Australia over the next eight years.

The company announced Thursday it signed a letter of intent to license its concept to Village Roadshow Limited (ASX: VRL), an Australian-based international entertainment company with assets in Australia, the U.S., Europe and Asia.

Village Roadshow is already planning its first Topgolf location on 15 acres of land next to Warner Bros. Movie World along the Gold Coast in Queensland. The three-level 65,000-square-foot venue will be similar to Topgolf’s models in the U.S. and open in mid- to late-2017.

“They have a lot of experience and are an established operator,” Topgolf Entertainment Group co-chairman and CEO Erik Anderson said of Village Roadshow. “(Australia) is a long ways away, so our international strategy revolves around partnerships. They run businesses culturally the same way we do, with high customer engagement and experience.”

Each Australian location will employ roughly 500 full- and part-time workers.

In addition to the Australian locations, Topgolf may tap into Village Roadshow’s experience to build in Asian markets, though no deals have been signed.

Read More

Leave a Reply