They own a lot of land, as you can imagine, with all of these golf courses. It's a very cash flow-rich company. I think today's offer shows that it's something like 7. I think that's probably a little bit cheap, given that historically, it's traded up toward 10 and 11 times operating cash flow.
So it wouldn't surprise me, perhaps, if there was a competing bid. But I think management in this case is going to be happy to get out of the public eye, because for a while they had some other activists in there trying to push them toward becoming a REIT and unlocking more value, as they always say.
I think it's a good deal, but I wouldn't be surprised at all to see a competing bid coming. Discounted offers are only available to new members. Stock Advisor will renew at the then current list price. Average returns of all recommendations since inception. Cost basis and return based on previous market day close.
Investing Best Accounts. Stock Market Basics. Stock Market. Industries to Invest In. Getting Started. Planning for Retirement. Retired: What Now? Personal Finance. And insurance on land improvements is virtually unaffordable at the moment. And most of those rivers run through all the golf courses in Dallas. Pillsbury sees lots of room for optimism, however. So we are now pushing our BigShots technology into our core business channels. From culinary creations to a speaker series with former Dallas Cowboys to robust racquet sports and aquatics programs, the company tries to keep its members engaged and coming back for more.
All of these things really add up to lifestyle. ClubCorp will continue acquiring golf and country clubs, Pillsbury says. So there needs to be some factor—like, you need an entertainment anchor in a broader development. Bryan, Texas, and Naples, Florida, are both leases with governmental jurisdictions that own the land, because we can make the economics work. We can never have afforded to buy the land. Pillsbury thinks about all this when he actually makes it out to the links on a course like Las Colinas Country Club, which is owned by ClubCorp.
As soon as I get my short game together. Yeah, right. Golf is a game that will always drive you crazy, even when it gives you hope on one hole before dashing it on the next. View previous emails. Get your slice ready. Browse our curated selection of contests, nominations, pitches, and grants. Our roundup of programs is for entrepreneurs, corporates, creatives, inventors, educators, and social innovators. These quotable North Texans inspire, inform, motivate, or simply make us laugh.
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ClubCorp also declared on Sunday a one-time dividend of 13 cents per share to be paid later this month. It said the sale to Apollo is expected to close in the fourth quarter of Founded in , ClubCorp operates more than properties, including golf and country clubs, business clubs and sports clubs across the United States, Mexico and China, serving more than , members.
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