Bowlero Corp. Expands in Washington State

Rhea-AI Summary

Bowlero Corp. (NYSE: BOWL) announced its agreement to acquire Paradise Lanes Entertainment Center in Tacoma, Washington. This acquisition is Bowlero's fourth facility in Washington State and features 32 bowling lanes, arcade games, billiards, and a full-service bar and restaurant. Brett Parker, President & CFO of Bowlero Corp., expressed optimism about the company's growth and robust acquisition pipeline as they welcome this new center to their portfolio.

Bowlero Corp. operates over 325 bowling centers across North America, catering to more than 30 million guests annually through its various brands.

Positive

• Acquisition of Paradise Lanes enhances market presence in Washington.
• Bowlero's robust acquisition pipeline indicates potential for future growth.
• The new center adds diverse entertainment offerings to Bowlero's portfolio.

Negative

• None.

RICHMOND, Va.--(BUSINESS WIRE)-- Bowlero Corp. (NYSE: BOWL), the global leader in bowling entertainment, announced today that it has entered into a definitive agreement to acquire Paradise Lanes Entertainment Center in Washington State.

Paradise Lanes Entertainment Center is located in Tacoma, WA, 32 miles southwest of Seattle. This center features 32 bowling lanes, an arcade, billiards, a full service bar and restaurant, and VIP party rooms. The acquisition of Paradise Lanes Entertainment Center marks Bowlero Corp.’s 4^th location in the state of Washington.

“We are pleased to announce our continued expansion in the state of Washington,” stated Brett Parker, President & Chief Financial Officer of Bowlero Corp. “Our pipeline of acquisitions remains robust as we enter our first definitive agreement of the calendar year. We are pleased to continue our growth with this latest acquisition and look forward to welcoming this center to our portfolio.”

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

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Source: Bowlero Corp.

FAQ

When did Bowlero Corp announce the acquisition of Paradise Lanes?

Bowlero Corp announced the acquisition of Paradise Lanes Entertainment Center on March 14, 2023.

What features does Paradise Lanes offer?

Paradise Lanes features 32 bowling lanes, an arcade, billiards, a full-service bar and restaurant, and VIP party rooms.

How many locations does Bowlero have in Washington State after this acquisition?

After the acquisition, Bowlero Corp. has four locations in Washington State.

What is Bowlero Corp's stock symbol?

Bowlero Corp's stock symbol is BOWL.