Bowlero Furthers Presence In Washington State, Acquires Paradise Lanes Entertainment For Undisclosed Sum

Bowlero Corp BOWL has entered into a definitive agreement to acquire Paradise Lanes Entertainment Center in Washington State. The financial terms were not disclosed.
Paradise Lanes Entertainment Center is located in Tacoma, WA, 32 miles southwest of Seattle.
The acquisition marks Bowlero's 4th location in the state of Washington.
The center features 32 bowling lanes, an arcade, billiards, a full service bar and restaurant, and VIP party rooms.
CFO Brett Parker said, "Our pipeline of acquisitions remains robust as we enter our first definitive agreement of the calendar year."
Bowlero held $89.8 million in cash and equivalents as of Jan. 1, 2023.
Bowlero Corp is a bowling entertainment, media, and events company with more than 325 bowling centers across North America.
Price Action: BOWL shares are trading higher by 4.04% at $16.48 on the last check Tuesday.