Bowlero, the largest owner and operator of bowling centers, went public on the New York Stock Exchange on Thursday through a merger with Isos Acquisition Corporation.
Announced in July, the combined entity is estimated to be valued at $2.6 billion.
The merger comes on the heels of Bowlero’s third-quarter earnings report, which beat analyst expectations and saw the company produce record leisure revenue — as well as a 20.3% increase in total bowling center revenue to $134 million.
Bowlero owns and operates 300 bowling centers in North America — the biggest footprint in a continuously growing market.
- Around 70 million people bowl each year, and more than 26 million of them visit a Bowlero center.
- The company owns nearly eight times as many bowling centers as its next competitor.
Room For Growth
Despite its already large footprint, Bowlero president and CFO Brett Parker says that the roughly 3,500 independently owned bowling alleys in the U.S. could be potential acquisition targets for the company.
The company also acquired the Professional Bowlers Association in 2019. Parker says Bowlero will look to George Barrios and Michelle Wilson — Isos’ founders and co-CEOs — for ways to make the sport more entertaining to watch. The pair were previously co-presidents at WWE.
Parker says the PBA is in talks with internal and external media companies about developing a show for PBA champion Kyle Troup.