Swingers, a DJ-fueled mini-golf experience, is opening a 23,000-square-foot club in New York including six bars, three nine-hole courses, and a 525-person capacity.
Currently, there are only three Swingers locations open, but co-founder and co-CEO Matt Grech-Smith expects to have 17 locations by the end of 2025, pulling in more than $220 million in revenue.
- In 2015, with just one venue in London, the company brought in $13 million in revenue. By 2016, it was scouting New York real estate.
- Swingers’ second venue didn’t open until 2018 in London’s West End.
- A third location opened in Washington, D.C., last year.
- Edmund Spencer, executive at the Institute of Competitive Socializing , Swingers’ parent company, said “we’re definitely eyes-peeled for a great site in Brooklyn, probably in Williamsburg.”
Prices for nine holes will range from $22 to $26, but Bloomberg reported that a full-venue takeover would likely cost more than $30,000 with food and drinks. The latter range from $14 to $17.
The Height of Mini-Golf
Swingers raised $20 million from Cain International last year, highlighting the continued growth in the experience golf market.
In May 2021, mini-golf venture Puttshack raised $60 million in a growth capital round. Puttery also received a funding round last year from four-time major champion Rory McIlroy and his investment group, Symphony Ventures.