The shares of Bowlero Corp. (NYSE: BOWL) saw a favorable trend during Wednesday’s extended trading session. The stock saw a noteworthy 7.02% surge to close at $12.50 after a little dip of 0.43% to close at $11.68 during the regular session. This rise in the price of BOWL stock happened just after the company’s quarterly financial results were scheduled to be released.
Bowlero (BOWL) announced that it will release its financial results for the second quarter of its fiscal year. BOWL will declare financials on Monday, February 5, 2024 prior of the opening of the US stock market. On the same day, at 10:00 AM ET, the management will offer insights into the outcomes through a webcast.
In a recent development, Bowlero Corp. appointed Lev Ekster, 40, as the President of the company. Mr. Ekster, credited with steering the expansion of the Professional Bowlers Association (“PBA”), overseeing the Amusements and Leagues departments, and, more recently, Information Technology, will report to Thomas Shannon, the Founder, Chairman, and CEO of Bowlero. He will take on the role of managing Center Operations on a daily basis.
Bowlero has grown significantly over the last eleven years, strategically purchasing companies including Lucky Strike, AMF, Brunswick, Bowl America, the Professional Bowlers Association, and over fifty independent locations. In addition, the business has opened twelve well-performing new buildings, confirming Bowlero’s standing as a leading figure in the out-of-home entertainment sector.
Bowlero recently added Ten Pin in Hilliard, Ohio, as its 20th center acquisition in fiscal 2024. Noteworthy acquisitions during the second quarter include Niles Bowling center in Niles, IL, and BAM! Entertainment Center in Holland, MI. The cumulative investment in acquisitions for fiscal year 2024, including the 14 Lucky Strike centers, amounts to $145.9 million. A significant milestone for Bowlero was the opening of Lucky Strike Moorpark in Moorpark, CA, located northwest of Los Angeles, in December.
This marks Bowlero’s initial new build incorporating the Lucky Strike brand since its acquisition in September. Lucky Strike Moorpark, a sprawling 43,000 sq. ft. entertainment center in Ventura County, boasts 40 bowling lanes, an arcade featuring over 80 games, and an impressive sports bar. Notably, this establishment represents Bowlero Corp.’s 52nd center in California and the fifth Lucky Strike branded center in the state.
