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Bowlero Expands With New Lucky Strike Locations in Colorado
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Bowlero Corp. has opened two new Lucky Strike locations in Colorado — Lucky Strike Southlands in Aurora and Lucky Strike Northfield in Denver. These new locations mark the third and fourth new builds under the Lucky Strike brand since its acquisition last September.
These openings are part of the company's expansion strategy under the Lucky Strike brand, demonstrating its commitment to growth and innovation in the entertainment space. Lucky Strike Southlands offers 38,000 square feet of space with 36 bowling lanes, large video screens, a sports bar and an arcade featuring more than 60 games. Lucky Strike Northfield spans 32,000 square feet, providing 30 bowling lanes, immersive video screens, a spacious bar and an expansive arcade.
Bowlero aims to strengthen its market position in Colorado, offering unique and upscale entertainment environments to enhance the guest experience. The new locations are designed to provide immersive entertainment experiences for guests of all ages.
BOWL Drives Growth With Acquisitions and Expansions
The company is focused on expanding its footprint with new locations and strategic acquisitions, aiming to drive growth and operational efficiencies. In October, the company acquired Boomers Parks, a well-established family entertainment center brand with locations in California and Florida. This acquisition strengthens the company’s position in the family entertainment sector and expands its footprint in key markets. As of Nov. 4, 2024, the total number of locations in operation has increased to 361.
Additionally, the company acquired Spectrum Entertainment Complex, a 52-lane bowling and events venue near Grand Rapids, MI. It also opened two new Lucky Strike locations in Denver. The company plans to open its flagship Lucky Strike locations in Beverly Hills and Ladera Ranch, CA, in the near future. The M&A market remains highly active and the company aims to continue deploying capital with attractive returns through its proven underwriting process and operational expertise.
In the coming months, Lucky Strike Beverly Hills will open, marking the first bowling alley in the area in nearly a century. This will be followed by the opening of Lucky Strike Ladera Ranch in Orange County, CA, which will feature 42 lanes and cater to a highly attractive demographic. The company’s new build pipeline is strong for the next few years. Its strategy focuses on a balance of internal optimization and deploying capital to high-return opportunities.
Image Source: Zacks Investment Research
Shares of this Zacks Rank #3 (Hold) company have gained 7.8% in the past three months compared with the industry’s growth of 34%. Although BOWL has underperformed its industry in the said period, the company is likely to benefit from acquisitions and expansion efforts. Strong performance in its bowling, amusements and food and beverage segments bodes well.
CCL has a trailing four-quarter earnings surprise of 318.1%, on average. The stock has surged 77.1% in the past year. The Zacks Consensus Estimate for CCL’s fiscal 2024 sales indicates growth of 16.6% from year-ago levels.
Norwegian Cruise Line Holdings Ltd. (NCLH - Free Report) currently sports a Zacks Rank #2 (Buy). NCLH has a trailing four-quarter earnings surprise of 4.2%, on average. The stock has surged 98.7% in the past year.
The Zacks Consensus Estimate for NCLH’s 2024 sales and earnings per share (EPS) indicates growth of 10.2% and 127.1%, respectively, from year-ago levels.
Royal Caribbean Cruises Ltd. (RCL - Free Report) currently sports a Zacks Rank #2. RCL has a trailing four-quarter earnings surprise of 16.2%, on average. The stock has surged 131% in the past year.
The Zacks Consensus Estimate for RCL’s 2024 sales and EPS indicates growth of 18.6% and 71.6%, respectively, from year-ago levels.
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Bowlero Expands With New Lucky Strike Locations in Colorado
Bowlero Corp. has opened two new Lucky Strike locations in Colorado — Lucky Strike Southlands in Aurora and Lucky Strike Northfield in Denver. These new locations mark the third and fourth new builds under the Lucky Strike brand since its acquisition last September.
These openings are part of the company's expansion strategy under the Lucky Strike brand, demonstrating its commitment to growth and innovation in the entertainment space. Lucky Strike Southlands offers 38,000 square feet of space with 36 bowling lanes, large video screens, a sports bar and an arcade featuring more than 60 games. Lucky Strike Northfield spans 32,000 square feet, providing 30 bowling lanes, immersive video screens, a spacious bar and an expansive arcade.
Bowlero aims to strengthen its market position in Colorado, offering unique and upscale entertainment environments to enhance the guest experience. The new locations are designed to provide immersive entertainment experiences for guests of all ages.
BOWL Drives Growth With Acquisitions and Expansions
The company is focused on expanding its footprint with new locations and strategic acquisitions, aiming to drive growth and operational efficiencies. In October, the company acquired Boomers Parks, a well-established family entertainment center brand with locations in California and Florida. This acquisition strengthens the company’s position in the family entertainment sector and expands its footprint in key markets. As of Nov. 4, 2024, the total number of locations in operation has increased to 361.
Additionally, the company acquired Spectrum Entertainment Complex, a 52-lane bowling and events venue near Grand Rapids, MI. It also opened two new Lucky Strike locations in Denver. The company plans to open its flagship Lucky Strike locations in Beverly Hills and Ladera Ranch, CA, in the near future. The M&A market remains highly active and the company aims to continue deploying capital with attractive returns through its proven underwriting process and operational expertise.
In the coming months, Lucky Strike Beverly Hills will open, marking the first bowling alley in the area in nearly a century. This will be followed by the opening of Lucky Strike Ladera Ranch in Orange County, CA, which will feature 42 lanes and cater to a highly attractive demographic. The company’s new build pipeline is strong for the next few years. Its strategy focuses on a balance of internal optimization and deploying capital to high-return opportunities.
Image Source: Zacks Investment Research
Shares of this Zacks Rank #3 (Hold) company have gained 7.8% in the past three months compared with the industry’s growth of 34%. Although BOWL has underperformed its industry in the said period, the company is likely to benefit from acquisitions and expansion efforts. Strong performance in its bowling, amusements and food and beverage segments bodes well.
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Carnival Corporation & plc (CCL - Free Report) currently sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks Rank #1 stocks here.
CCL has a trailing four-quarter earnings surprise of 318.1%, on average. The stock has surged 77.1% in the past year. The Zacks Consensus Estimate for CCL’s fiscal 2024 sales indicates growth of 16.6% from year-ago levels.
Norwegian Cruise Line Holdings Ltd. (NCLH - Free Report) currently sports a Zacks Rank #2 (Buy). NCLH has a trailing four-quarter earnings surprise of 4.2%, on average. The stock has surged 98.7% in the past year.
The Zacks Consensus Estimate for NCLH’s 2024 sales and earnings per share (EPS) indicates growth of 10.2% and 127.1%, respectively, from year-ago levels.
Royal Caribbean Cruises Ltd. (RCL - Free Report) currently sports a Zacks Rank #2. RCL has a trailing four-quarter earnings surprise of 16.2%, on average. The stock has surged 131% in the past year.
The Zacks Consensus Estimate for RCL’s 2024 sales and EPS indicates growth of 18.6% and 71.6%, respectively, from year-ago levels.