Bowlero completes $432.9 million deal for sale-leaseback of land, real estate assets of 38 centers

Bowlero Corp. on Thursday announced in this news release that it had completed a deal with VICI Properties Inc. selling the land and real estate assets of 38 of its bowling centers in 17 states for $432.9 million. Bowlero said the transaction was structured as a tax-deferred capital contribution, and proceeds are expected to be used to accelerate the building of new centers, on acquisitions and conversions of existing centers, returning capital to shareholders, paying down debt, and for general ...