Add bowling to the list of activities that Americans are eager to get back to in greater numbers than ever before. A recent survey indicates that 62% of Americans believe the pandemic is over. And what better way to celebrate this mindset than over some beers and pizza while perfecting your bowling technique?
Bowlero’s most recent results for Q3 FY2023 (ending April 2, 2023) indicates that revenue in the 3rd quarter was “a record-breaking $316 million. It grew $58 million, or 22% YoY, and $111 million or 54% vs pre-pandemic.”
Bowlero has had generally outstanding performance YoY, with 9 of the past 12 months outpacing last year’s foot traffic.
While Feb-April 2023 may be down somewhat for Bowlero compared to last year, it is still up 95% compared to pre-pandemic levels. (Bowlero and AMF had roughly 110 and 140 locations at the start of 2019, respectively, compared to 225 and 115 today)
Bowlero Corporation currently has 329 centers operating (below), with 75% of revenue generated in or adjacent to top 25 MSAs. Since the start of fiscal 2022, the Company has added 44 new centers with 15 centers acquired in fiscal 2023.
Source: Bowlero Corporation Q3 FY2023 Investor Relations Presentation. Represents locations open as of 5/15/23.
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