Market Overview

DriveShack Stock Jumps On Rory McIlroy Partnership

DriveShack Stock Jumps On Rory McIlroy Partnership

A golf entertainment company could get a boost with a partnership with one of the top golfers.

What Happened: Rory McIlroy is partnering with Drive Shack Inc (NYSE: DS) on the company’s new small-format indoor high tech mini golf entertainment experience.

McIlroy will serve as the partner on Puttery and is also investing in the Drive Shack concept.

“I am thrilled to partner with the Drive Shack team on their new entertainment golf experience,” said McIlroy.

The company is looking to McIlroy to add to the vision of Puttery and the future expansion of the brand.

“There is no person that we’d rather collaborate with for this project and we look forward to building a long-standing relationship with Rory and his team,” said Drive Shack CEO Hana Khouri.

Related Link: Did Callaway Golf Sink A Birdie By Buying Topgolf? 

What’s Next: The first Puttery location is scheduled to open this summer in Dallas Texas. The company plans to open six additional Puttery locations by the end of 2021 and 10 more locations in 2022.

Drive Shack has four namesake entertainment golfing destinations open currently.

DS Price Action: Shares of Drive Shack are up 11% to $2.82 on Tuesday.

Photo credit: Ed (supergolfdude), via Wikimedia Commons


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