The largest owner and operator of bowling centers in the world has reported its best year yet.
Bowlero Corp., which has more than 325 bowling centers across North America, generated $1 billion in revenue in the trailing 12 months through Jan 1. — the close of Q2 2023.
The record results were attributed to strong demand for bowling, which sparked a 48% year-over-year increase in same-store sales.
- Bowlero previously projected $878 million in revenue for the trailing 12 months.
- Since June 2021, the New York-based company has added 40 new bowling centers.
- Two of those locations were new, while 38 were acquisitions.
- Bowlero hosts nearly 30 million people at its centers each year.
According to president and CFO Brett Parker, Bowlero will target some of the 3,500 independently owned bowling alleys in the U.S. for takeover acquisitions, which are usually cheaper and quicker than building new facilities.
In December 2021, Bowler went public via a merger with blank-check company Isos Acquisition Corp., valuing the combined entity at $2.6 billion. The transaction included a raise of about $450 million through a private investment in public equity from Apollo Global Management, Wells Fargo Asset Management, Brigade Capital Management, the Donerail Group, and others.