Topgolf, known for its innovative twist on traditional golf, is expanding to Panama City Beach, Florida. The new venue, set to open in summer 2025, will be the company’s 10th location in the state and will offer a blend of entertainment, sports, and fun for all ages.
Topgolf Callaway Brands Corp (MODG) announced plans to separate its Callaway and Topgolf businesses, creating two independent companies. The move aims to enhance strategic focus, optimize capital allocation, and drive value for shareholders. Topgolf, generating $1.8 billion in revenue annually, will be spun off to shareholders, while Callaway will retain its golf equipment, Toptracer, and active lifestyle businesses, generating $2.5 billion in revenue. The transaction is expected to be tax-free for both the company and its shareholders.
