Hollywood Bowl Reports Record Revenue and Confident Outlook Amid Expansion

Rolling Strikes and Record Revenues: Hollywood Bowl’s Winning Formula

Well now, here’s a business that knows how to keep the pins tumbling and cash registers singing. Hollywood Bowl’s latest interim results reveal a fascinating story of strategic expansion, resilient consumer demand, and a touch of British weather drama. Let’s unpick the numbers behind the neon lights.

The Financial Frame: Solid Foundations Amid Expansion

First, the headline act: record revenue of £129.2 million, up 8.4% year-on-year. That’s not just inflation talking – it’s a testament to smart expansion and operational discipline. But as any seasoned investor knows, revenue is just the opening frame. The real intrigue lies beneath:

• Adjusted EBITDA pre-IFRS 16 edged up 0.5% to £38.8m. But peel back the curtain: underlying growth hit 8.8% when adjusting for prior-year one-offs (business rates rebates, centre closures, and timing quirks like Easter shifts).
• Statutory profit before tax dipped to £28.3m (down 4%), reflecting heavy investment in new centres and refurbishments – a calculated trade-off for future returns.
• The interim dividend rose 3% to 4.10p per share, while a £10m share buyback (equivalent to two years of special dividends) signals confidence in surplus cash generation.

Expansion Alley: Spreading the Bowling Gospel

Hollywood Bowl isn’t just maintaining lanes – it’s building empires. The growth engine is firing on both sides of the Atlantic:

UK Roll-Out: Precision Execution

• Opened three new centres (Swindon, Preston, Inverness), all hitting at least 19% ROI targets
• Four refurbishments completed, all exceeding the 33% ROI hurdle rate
• Two more openings (Reading, Uxbridge) and one refurbishment due in H2
• Pipeline bulging with five signed locations

Canadian Conquest: Tripling Down

Since acquiring its Canadian business in May 2022, Hollywood Bowl has turned 5 centres into 15 – and revenues have more than tripled. Standout plays:

• Two new “Hollywood Bowl style” centres opened (Kanata, Ottawa and Creekside, Calgary), trading above expectations
• Four refurbishments completed in H1, with four more due in H2
• Construction started at Christy’s Corner (opening H1 2026)
• Striker equipment arm revenue surged 112.3%

Customer Alchemy: Turning Pins into Pounds

Here’s where the magic happens. Despite game volumes dipping 4.5% (blame Easter timing and that pesky sunshine), spend per game (SPG) soared: