Global investment firm Dale Ventures has acquired a majority share in Dubai-based X-Golf Entertainment and will support the 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 as its simulators allow participants to play 18 holes on the world’s top courses with 98 percent accuracy in ball flight simulation.
Thousands of simulators have been sold globally in the last decade, and in the US, X-Golf America is celebrating the opening of its 29th franchise. The company is set to open another 21 venues by the end of 2021.
A statement said X-Golf Entertainment is seeking ambitious 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 said its investment will enable the company to execute its vision and capitalise on the sport’s increasing popularity in the Middle East.
Dale W Wood, founder and CEO of Dale Ventures, said: “X-Golf has made it possible to play the sport from anywhere, in any weather at any time. 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 percent of US golfers participated exclusively in off-course golf activities at places like X-Golf and TopGolf, growth that considerably outstripped on-course participation growth, he added.
“X-Golf is playing an important role in modernising the sport and entertaining a new generation of players and ‘competitive’ socialisers 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,” said Madeleine Curran, joint-managing director, XGolf Entertainment.
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