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DRIVE SHACK INC . Drive Shack Inc. Announces Third Quarter 2021 Financial Results and Preferred Stock Dividends for Fourth Quarter 2021 November 8 , 2021 Reported Total Company Revenue of $ 76.4 Million for the Third Quarter 2021 ; Highest Quarterly Revenue Reported in Three Years Reported Operating Loss of $ 5.9 Million and Positive Adjusted EBITDA of $ 3.3 Million for the Third Quarter 2021 Debuted First Puttery Venue in The Colony , Texas in September 2021 DALLAS -- ( BUSINESS WIRE ) -- Drive Shack Inc. ( the “ Company ” ) ( NYSE : DS ) , a leading owner and operator of golf - related leisure and entertainment businesses , today reported its financial results for the third quarter and nine months ended September 30 , 2021 . " The third quarter was a historic quarter for our Company with the launch of Puttery , our new , competitive socializing and immersive entertainment experience , " said Drive Shack Inc.'s President and Chief Executive Officer Hana Khouri . " Our first Puttery venue debuted in our home market on September 3rd in The Colony , Texas , one of the most exciting entertainment districts in North Texas . Guests are responding favorably to our inaugural Puttery and the feedback on their experience remains overwhelmingly positive . I am beyond proud of the countless team members that worked hard to deliver our first venue and I thank them for their unmatched dedication and commitment to bring our Puttery brand and vision to life . We look forward to opening additional Puttery venues in the coming months , including our Charlotte location which is planned to open later this quarter . " Khouri continued , " We delivered strong results for the third quarter , including the highest quarterly revenue in three years and our fifth consecutive quarter of positive adjusted EBITDA . Our American Golf and Drive Shack businesses have largely returned to pre COVID levels , and our events business continues to meaningfully increase as we near the important , key holiday months . 2021 has been an instrumental year and we remain centered on our strategic priorities to drive growth and profitability this year and beyond . " Third Quarter 2021 Financial Highlights Total revenue for the third quarter this year was $ 76.4 million compared to $ 66.5 million in the same period last year . The Company's traditional golf business , American Golf , generated total revenue of $ 65.1 million in the third quarter 2021 , which included $ 14.7 million of managed course expense reimbursements , compared to $ 60.3 million in the third quarter 2020 , which included $ 15.2 million of managed course expense reimbursements . The increase to last year's third quarter was largely due to higher event revenue and green and cart fee revenue this year .