下场 almost always implies a negative outcome — you wouldn't say
他的下场很好. It's the Chinese equivalent of 'this is how it ends for you' or 'you'll get what's coming to you.' The phrase
没有好下场 (méiyǒu hǎo xiàchang, 'won't come to a good end') is extremely common as a warning. Note the neutral tone on
场 (chang, not chǎng) — the verb-sense xiàchǎng (to leave the stage) has a different reading.
