Smart Connection Consultancy is a boutique sport and recreation consultancy who has become one of Australia’s leading advocates for the use of synthetic sports surfaces as a vehicle to grow…read more
Topgolf development plans halted following indifferent performance of first Australian venue
The Village Roadshow board has reportedly halted plans to develop up to eight Topgolf venues in Australia and the Asia Pacific as a result of uncertainty over the financial performance of the first Gold Coast location.
In 2016, Village Roadshow signed an agreement with US-based Topgolf to bring the concept to Australia. Village took a 67% equity stake and provided 100% of the $35 million capital.
The company had big ambitions for the brand – and in March 2018 called on landowners to support locations for new venues. At the time, Village Entertainment Chief Executive Kirk Edwards stated "we plan to open eight venues across Australia and key APAC territories, and have been delighted to hear from multiple operators of both new and existing developments across Australia.”
The company spent $35 million on its first Topgolf venue which opened in June 2018, next to its Wet'n'Wild Gold Coast and Warner Bros. Movie World attractions.
However, the Australian Financial Review has reported that Topgolf Australia has opted to reduce its stake in the partnership from 33.3% down to 3.7% - taking Village’s exposure to 96.3%.
The AFR reports that plans to build eight Topgolf centres have now been put on hold. The news coincides with reports of disagreements between Village Roadshow Deputy Chairman, John Kirby; Executive Chairman, Robert Kirby and Chief Executive, Graham Burke.
Image: Topgolf on the Gold Coast.
14th November 2018 - Village Roadshow Theme Parks set to launch its biggest Summer Ever
30th July 2018 - Clark Kirby outlines vision for Topgolf’s Australian expansion
15th June 2018 - Australia’s first Topgolf Venue opens on the Gold Coast
20th December 2017 - Topgolf’s Zach Shor to address 2018 Golf Business Forum
18th December 2017 - Topgolf global expansion to continue with new Dubai venue
Asking a small favour
We hope that you value the news that we publish so while you're here can we ask for your support?
The news we publish at www.ausleisure.com.au is independent, credible (we hope) and free for you to access, with no pay walls and no annoying pop-up ads.
However, as an independent publisher, can we ask for you to support us by subscribing to the printed Australasian Leisure Management magazine - if you don't already do so.
Published bi-monthly since 1997, the printed Australasian Leisure Management differs from this website in that it publishes longer, in-depth and analytical features covering aquatics, attractions, entertainment, events, fitness, parks, recreation, sport, tourism and venues management.
Subscriptions cost just $90 a year.
Click here to subscribe.
The Complete Guide to Leisure Industry Products & Services.
NovoFit is an exciting and dynamic new company born from two of Australia’s leading commercial fitness equipment suppliers. NovoFit combines over 45 years of industry expertise, delivering state…read more
As of the 1st July 2018, Enta Australasia Pty Ltd/Best Union has been rebranded as VIVATICKET Pty Ltd. 19th July 2018 - ENTA AUSTRALASIA REBRANDS AS VIVATICKET 17th October 2016…read more
Vticket Pty Ltd is the Australian and New Zealand distributor for Gateway Ticketing Systems Inc., the world leader in high-speed access control, admission control and ticketing software for the…read more
Geoff Ninnes Fong & Partners (GNFP) is a structural, aquatic and civil engineering consultancy with broad experience in the design of new municipal and institutional swimming pools, hydrotherapy…read more
Les Mills Asia Pacific Les Mills Asia Pacific (LMAP) have been setting the benchmark for providing professional fitness solutions across Australia and South East Asia since 1996. Our world renowned…read more
Lander & Rogers' Sports Business Group is the leading sports law practice in Australia, representing over 150 national and international sporting bodies. Our clients include international…read more
get listed with our suppliers directory
Get your business noticed in our targeted directory. Viewed by 10,000 industry professionals per week!