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Bowlero Corp. (NYSE: BOWL) announced the acquisition of The Big Event in Cherry Hill, New Jersey, marking its first acquisition in 2023. This venue features 36 bowling lanes along with billiards, arcade games, and private event spaces. With this addition, Bowlero expands its footprint to 10 locations in New Jersey, enhancing its average unit volumes. The Big Event is scheduled to open under Bowlero's management on February 17. So far in fiscal 2023, the company has completed 12 acquisitions, reinforcing its position as a leader in bowling entertainment.
Positive
Acquisition of The Big Event enhances growth potential and market presence.
The venue adds diverse entertainment options, potentially increasing customer traffic.
Bowlero has completed a total of 12 acquisitions in fiscal year 2023.
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None.
RICHMOND, Va.--(BUSINESS WIRE)--
Bowlero Corp., (NYSE: BOWL) the global leader in bowling entertainment, completed the acquisition of The Big Event in New Jersey on February 14th. This announcement marks the Company’s first completed acquisition in calendar year 2023, out of a robust pipeline of remaining acquisitions.
Brett Parker, President & Chief Financial Officer of Bowlero Corp., stated, “Today’s announcement illustrates our continued commitment to expanding our unit base and simultaneously improving our average unit volumes.”
The Big Event is located in Cherry Hill, NJ, 20 miles outside of Philadelphia. This impressive 36 lane center features billiards, ping pong, shuffleboard, arcade games and VIP private event rooms. The acquisition of The Big Event marks the Company’s 10th location in the state of New Jersey. This center opened under Bowlero Corp. management on Friday, February 17th.
Parker stated in closing, “We look forward to welcoming this center to our growing national footprint and, as always, we remain focused on growth while continuing to prioritize a world-class experience for our guests.”
Thus far in fiscal year 2023 Bowlero Corp completed 12 acquisitions.
About Bowlero Corp Bowlero Corp. is the global leader in bowling entertainment, media, and events. With more than 325 bowling centers across North America, Bowlero Corp. serves more than 30 million guests each year through a family of brands that includes Bowlero, Bowlmor Lanes, and AMF. In 2019, Bowlero Corp. acquired the Professional Bowlers Association, the major league of bowling, which boasts thousands of members and millions of fans across the globe. For more information on Bowlero Corp., please visit BowleroCorp.com
What is the significance of Bowlero's acquisition of The Big Event?
The acquisition of The Big Event enhances Bowlero's market presence in New Jersey, bringing its total locations in the state to 10 and potentially increasing its average unit volumes.
When will The Big Event open under Bowlero's management?
The Big Event is expected to open under Bowlero's management on February 17.
How many acquisitions has Bowlero completed in 2023?
So far in fiscal year 2023, Bowlero has completed 12 acquisitions.
Where is The Big Event located?
The Big Event is situated in Cherry Hill, New Jersey, approximately 20 miles from Philadelphia.
What features does The Big Event offer?
The Big Event includes 36 bowling lanes, billiards, ping pong, shuffleboard, arcade games, and VIP private event rooms.
