Hollywood Bowl reports record revenue after strong customer demand

Ten-pin bowling operator Hollywood Bowl has reported a continued strong performance despite the ongoing squeeze on household finances.

Revenue for the year ended 30 September 2023 increased by 16.2% to a record £215m, with wet weather in the summer months boosting sales as more families sought out indoor entertainment.

Average spend per game in the UK grew 3.4% to £11.06.

Adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) grew 11.1% to £82.7m, while pre-tax profit fell slightly to £45.1m, from £46.7m a year ago.

Hollywood Bowl has 66 bowling centres in the UK and nine in Canada, as well as five indoor mini-golf facilities in the UK.

During the year the company opened three new bowling centres in the UK and acquired another three in Canada. Additional sites are due to open in the current financial year, including at least three in the UK, with a “strong pipeline” for FY2025 and beyond.

Increases to the UK’s minimum wage are expected to cost the company around £600,000 in the second half of the current financial year, and £1.2m on an annual basis.

Chief executive Stephen Burns told the BBC that the increases announced last month had meant an “unexpected hit” for the business and it may need to raise prices next year to help cover the additional cost.