Coin-op amusements news | Hollywood Bowl raises £30m to expand

Major UK-based tenpin bowling operator Hollywood Bowl has raised £30m in a placing to accelerate its plans for expansion.

The operator has issued 13 million shares, a stake of 8.3 per cent, which will give the company the means to invest in new centre opening opportunities and resume its planned revenue generating and cost saving capex programme in existing centres that it started pre-Covid.

CEO Stephen Burns said: “The placing allows us to reignite our customer-led growth strategy as we look ahead to the re-opening of our estate, enabling investment in our new centre pipeline and on-going refurbishment programme.”

The company hopes that UK Government restrictions will be relaxed enough to permit its 60 centres, spread across the UK countries, to open in May.