Drive Shack Shifts Strategy, No Longer Pursues Marietta Market

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NEW YORK--(BUSINESS WIRE)-- Drive Shack no longer plans to develop a venue in Marietta, GA. The change in direction comes as part of the company’s enhanced strategy and plans for growth, now led by new CEO Ken May.

Previously, May served as CEO of Topgolf where he was pivotal in the business’s growth, opening 24 stores and quadrupling the company’s workforce, all in just four years. Under his guidance Drive Shack aims to be positioned for similar growth. As part of the shift in direction, the company will be taking a deeper look at locations in which American Golf, a Drive Shack Inc. subsidiary, currently operates.

The City of Marietta has been an incredible partner and advocate of Drive Shack. We greatly appreciate and are thankful for all the support they have given us.

ABOUT DRIVE SHACK INC.

Drive Shack Inc. (NYSE:DS) is a publicly traded owner and operator of golf-related leisure and entertainment businesses. The company’s subsidiaries include American Golf, its traditional golf enterprise that operates private, resort and public golf courses nationwide, and Drive Shack, a golf and entertainment company that features the latest in golf and gaming technology with venues offering signature interactive range games, virtual course play, restaurant and bar, and classic arcade game center. Drive Shack opened its first venue in Orlando, April 2018, and has several locations opening in 2019 including Raleigh, NC; Richmond, VA and West Palm Beach, FL. For more information visit driveshack.com.

Media:
Jeanette Chin
516.206.8165
jchin@driveshack.com

Investor Relations:
Austin Pruitt
516.268.7460
ir@driveshack.com

Source: Drive Shack Inc.

Released January 11, 2019