Bowlero completes $432.9M sale-leaseback with VICI Properties

Earlier, Bowlero announced it has “completed a transaction with VICI Properties Inc. relating to the transfer of land and real estate assets of 38 Bowling Entertainment Centers across 17 states for aggregate value of $432.9 million. The transaction was structured as a tax-deferred capital contribution, and proceeds are expected to be used to accelerate new builds, deploy capital into acquisitions and conversions, return capital to shareholders, pay down a portion of Bowlero’s debt, and for general corporate purposes.” Shares of Bowlero are up 10.1% afterhours at $12.00.