Sale Leaseback of 38 Bowling Entertainment Centers with Bowlero Corp.
BOWLERO'S SCALE AND FOOTPRINT
Bowlero has a Growing Portfolio of 350 Properties in Diverse and Attractive Markets Across 30 States, Canada,
Mexico and Puerto Rico in a Highly Fragmented Industry with Sizable Total Addressable Market
Bowlero operates its 350-asset portfolio
across three core brands - Bowlero, AMF
and Lucky Strike
-75% of Bowlero's revenue is generated by
properties located in or adjacent to Top 25
Metropolitan Statistical Areas by population
and Bowlero aims to continue to grow its
footprint in attractive markets
Bowlero has demonstrated its commitment
to achieving scale by acquiring 63 new
properties since June 2021(¹), including the
acquisition in September 2023 of 14 Lucky
Strike Entertainment properties
There are over 3,500 independent bowling
centers in North America providing a long
runway for Bowlero to execute its
consolidation strategy with VICI as a
potential financing partner
Bowlero believes there is opportunity
to acquire ~500-1,000 properties,
convert 150+ existing properties, and
build -200 new properties
Largest Bowling Operator in North America by Property Count... (2)
350
Bowlero
Over 6.0x Larger
than the Next
Largest Operator
53
Peer A (3)
14%
35%
18
2%
Peer B
...With a Diversified Revenue Mix(4)
15
49%
Peer C
-3,500
Media
Independent
Bowling Centers
Bowling
Food & Beverage
Amusement & Other
Source: Bowlero FY 2023 public filings.
(1) Refer to Bowlero's public filings for additional information. (2) Information obtained from Bowlero peer company websites and Bowlero management estimates as of FY 2023. Excludes centers that have yet to open
for all companies shown. (3) Subsidiary of a larger company. (4) Based on FY 2023 results.
VICI
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