Dale Ventures Acquires Majority Stake In X-Golf Entertainment

Dubai, United Arab Emirates, June 09 2021, (AETOSWire):

Summary

Global investment firm Dale Ventures has acquired a majority share in Dubai-based X-Golf Entertainment and will support the groundbreaking company as it seeks to launch its flagship urban golf club venue later this year. 

X-Golf's technology was developed in South Korea in 2005 and has since transformed the world of virtual sports. With over 15 years of research and development behind them, the company's golf simulators allow participants to play 18 holes on the world's top courses with 98 percent accuracy in ball flight simulation. This market-leading accuracy also combines with swing analysis software that allows the simulators to be used as precision training tools and private golf lessons. 

Thousands of simulators have been sold globally in the last decade, and in the U.S., X-Golf America is celebrating the opening of its 29th franchise, which delivers sport, drinks and entertainment to amateurs and experts alike. The company is set to open another 21 venues by the end of 2021.

Following suit, X-Golf Entertainment has an ambitious vision for growth across the Middle East, with plans to launch the region's first large-scale urban golf club and sports bar, along with a fleet of luxury residential and commercial projects in hospitality and tourism industries. Dale Ventures' investment will enable the company to execute its vision and capitalize on the sport's increasing popularity in the Middle East. 

Dale W. Wood, founder and CEO of Dale Ventures, said the opportunity to invest in X-Golf's forward-looking combination of technological innovation and expanded access to a sometimes-elusive sport was one he could not let pass him by. 

"X-Golf has made it possible to play the sport from anywhere, in any weather at any time," Dale W. Wood said. "An avid golfer myself, I know all too well the draw of the game and am positive X-Golf's stunning simulators, and thrilling environments will help to transform what it means to play recreationally."

In 2020, 33% of U.S. golfers participated exclusively in off-course golf activities at places like X-Golf and TopGolf, growth that considerably outstripped on-course participation growth. Moreover, this statistic increases the market when it comes to the younger generation, 46% of whom participated in the game off-course. The ever-expanding demographic and global reach of the sport put X-Golf Entertainment on the frontline of an industry with growth potential. Factors including an unprecedented development boom in the Middle East, an emphasis on leisure activities and the region's sweltering heat set X-Golf up for success as its growth continues. 

"X-Golf is playing an important role in modernizing the sport and entertaining a new generation of players and 'competitive' socializers alike. The backing of Dale Ventures through our new partnership will enable us to fully capitalize on the opportunity ahead. It's an exciting time." Madeleine Curran, Joint-Managing Director, XGolf Entertainment