BOWLERO CORP Stock Price, News & Analysis

Bowlero Corp. (NYSE: BOWL) has successfully acquired Bowland Cape Coral and HeadPinz Cape Coral, expanding its presence to 31 centers in Florida. The newly branded locations will open to the public on April 28th. Bowland Cape Coral features 33 lanes, a private event space, arcade games, and a full-service bar, while HeadPinz Cape Coral offers an 18-lane setup with over 40 arcade games and VIP space. CEO Thomas Shannon expressed enthusiasm for entering the Cape Coral community and emphasized the company's growth initiatives and future expansion opportunities in 2023.

Bowlero Corp. (NYSE: BOWL) has announced its definitive agreement to acquire Andy B’s in Bartlett, Tennessee, marking its first center in the state. This acquisition expands Bowlero's reach to 34 states. Andy B’s features 44 lanes, including 12 private lanes, an interactive arcade, and a full-service bar. Bowlero aims to continue its growth trajectory, having already entered into four acquisition agreements for additional bowling centers in 2023. The acquisition reflects Bowlero's strategy of quality expansion in the bowling entertainment market.

Bowlero Corp. (NYSE: BOWL) has announced the acquisition of two bowling centers in Cape Coral, Florida: Bowland Cape Coral and HeadPinz Cape Coral. These centers will enhance Bowlero's portfolio, which already includes over 325 locations across North America. Bowland features 33 lanes, a private event space, and a full-service bar, while HeadPinz offers 18 lanes and an expansive arcade. This strategic acquisition aims to expand Bowlero's footprint in Florida and drive future success in the new community, as stated by Brett Parker, President & CFO. Both centers will operate under the Bowlero brand post-acquisition.

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.

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.

Bowlero Corp. (NYSE: BOWL), the largest bowling center operator globally, will participate in two key investor conferences: the Raymond James Institutional Investors Conference on March 6, 2023, and the J.P. Morgan Global High Yield & Leveraged Finance Conference on March 7, 2023. Brett Parker, Vice Chairman and CFO, is scheduled for fireside chats during both events. The sessions will offer insights into Bowlero's performance and strategies. Investors can access a live webcast on Bowlero’s Investor Relations website.

Bowlero Corp reported a record-breaking revenue of $273.4 million for Q2 2023, marking a 33.2% increase year-over-year and 47.9% compared to pre-pandemic levels. Net income stood at $1.4 million, but was impacted by a $30.8 million non-cash expense. Adjusted EBITDA reached $97.0 million, up 45.2% year-over-year. The company's trailing twelve-month (TTM) revenue hit $1.03 billion, exceeding previous projections. Bowlero's proprietary app, MoneyBowl™, is now active in 37 centers. The company continues to expand, adding new centers and signing leases for construction.

Bowlero Corp. (NYSE: BOWL) has successfully closed a $900 million term loan B due February 8, 2028 in a net-leverage-neutral transaction. Additionally, the company has upsized its revolving credit facility by $35 million, increasing its total to $200 million. Proceeds will refinance existing debt and support general corporate purposes. Moody's upgraded Bowlero's corporate family rating from B2 to B1, highlighting the transaction's positive implications. The deal involved major financial institutions and indicates strong liquidity and growth prospects for Bowlero.

Bowlero Corp. (NYSE: BOWL), the largest bowling center operator globally, will report its financial results for Q2 of fiscal 2023 on February 15, 2023, post-market close. The management will hold a live webcast at 4:30 PM ET to discuss these results. Bowlero serves nearly 30 million guests annually across more than 325 centers in North America, showcasing its strong market presence. The results presentation will be available on the company's Investor Relations website. For more details, please visit BowleroCorp.com.