The Deep Dive Into the Business of Bowlero Corp. Every Bowler Should Read

by JEFF RICHGELS - 11thFrame.com | Posted: Saturday, June 1, 2024 3:00 pm

When Amos Barshad first called me last year, I was intrigued but didn’t get my hopes up: He didn’t know bowling but was aiming to write a deep dive into the business of Bowlero Corp.

The more we talked the more I realized that Barshad was a journalist I’d be happy to work with at my newspaper job or 11thFrame.com. He asked all the right questions to understand bowling stuff, which isn’t simple stuff for a non-bowler, and he clearly was on the right track with the overall story.

When I got the final result this week and read it I could not have been more impressed.

Barshad told me he was writing it for Lever.com, where it’s posted as Meet The New Kingpin.

But I saw many people sharing it posted at Jacobin.com where it’s under the catchier Private Equity–Backed Firm Bowlero Is Ruining Bowling.

It’s similar to the story I’ve long had designs on doing but haven’t been able to carve out the time for, with my focus more on how the company’s business impacts the sport.

Barshad included some interesting material from financial journalist Herb Greenberg and Katherine Spurlock, a Louisiana-based research analyst and former short seller. He also took a well-deserved shot at CNBC’s Jim Cramer, who has conducted multiple fawning interviews with Bowlero CEO Tom Shannon.

And — shocker! — Bowlero didn’t respond to his requests for comment.

I was happy to see that Robin Goldberg, proprietor at Madison’s Dream Lanes, did peak with Barshad and gave him the same answers he has given me.  

He used a couple of quotes from my writing and from my talking with me, including one I’ve used in varying forms over the years: “The tragedy of Bowlero is that they’re the biggest and most important company in bowling and they care nothing about the sport.” 

The context of that is nothing about the sport that doesn’t make them money, like the PBA.

I’d also add that the tragedy includes how much potential good they could do for bowling if they cared for anything beyond the bottom line.

But they don’t … which should be the point of any serious story about the business of Bowlero Corp.

Barshad nailed that.

Link to 11thFrame.com: 

https://www.11thframe.com/news/article/15219/The-deep-dive-into-the-business-of-Bowlero-Corp-every-bowler-should?filter=all

PBA Owner Bowlero Corporation Going Public In Merger With Isos Acquisition Corporation

Bowlero Corporation, the owner of the PBA Tour, is going public in a merger with Isos Acquisition Corporation, the companies announced in a news release Thursday morning. The deal values Bowlero, which has about 300 bowling centers in North America, at about $2.6 billion, the companies said. The deal points toward expansion for Bowlero. The transaction supports the continued expansion of Bowlero’s footprint in the $4.5 billion U.S. bowling Industry.

Bowlero To Acquire 17 Bowl America Centers

NEW YORK, May 28, 2021 /PRNewswire/ -- Bowlero Corp, the worldwide leader in bowling entertainment, announced today it has entered into a definitive merger agreement with Bowl America Incorporated (NYSE American: BWL-A), under which Bowlero Corp will acquire Bowl America.

Upon completion of the transaction, Bowlero Corp, the owner and operator of over 300 bowling center locations in North America, will acquire Bowl America's 17 bowling centers in Florida, Virginia and Maryland.

"Bowlero Corp is committed to delivering a world class bowling experience to the 28 million-plus guests we serve each year and we're thrilled to welcome Bowl America's 17 centers to our portfolio," said Tom Shannon, Chairman and CEO of Bowlero Corp. "This acquisition supports our ongoing strategic efforts to grow and revitalize all aspects of the bowling industry."

The acquisition is subject to stockholder approval and other customary closing conditions.

PBA Adding Prize Money - Three Tournament Championships Worth $100,000.00 in 2020

In major news out Friday, the Professional Bowlers Association (PBA) has announced increased first-place prizes in nearly every upcoming PBA Tour event, improved cashing ratios and added more dual pattern events.

Among the most high-profile changes were to the PBA’s most prestigious majors – the PBA Tournament of Champions (TOC) and the PBA World Championship. Both of those events will now feature a $100,000 first-place prize.

In 2019, the TOC paid $50,000 for first, while the World Championship paid $60,000. The changes are part of an overall $400,000 increase in prize money year-over-year for the FOX portion of the PBA schedule, which begins in January. It's the first major announcement since Bowlero purchased the PBA earlier this year.

In addition to the two majors, the PBA Playoffs will also once again award a $100,000 first-place prize, giving the PBA at least three six-figure payouts in 2020. The PBA Players Championship, the third of the PBA’s owned majors, will pay $70,000 for first.

First-place prizes for the USBC Masters and U.S. Open, both controlled by the USBC, have not been announced. In 2019, those events paid $30,000 for first place.

All of the standard singles events will pay $30,000 for first with the exception of the animal pattern events at the World Series of Bowling, which will pay $25,000. Cashing ratios will improve from 1:4 to 1:3 for all events other than the WSOB animal patterns.

The PBA will also roll out more dual pattern events. In 2019, two patterns were used for the PBA Indianapolis Open and PBA Jonesboro Open, both won by Norm Duke.

In 2020, the PBA Hall of Fame Classic, PBA Oklahoma Open, and the PBA Doubles Championship will join the Indianapolis and Jonesboro events as dual pattern tournaments.

As for event formats, the PBA Doubles Championship will change slightly in 2020. Instead of qualifying through the attached singles event, qualifying will happen separately as teams to determine advancers into match play.

The four standard singles events will have similar formats with one minor exception. The Hall of Fame Classic and Oklahoma Open will have two squads for qualifying. Those events will feature 12 qualifying games and 16 games of round-robin match play to determine stepladder finalists.

The Jonesboro and Indianapolis events will have one squad for qualifying with 14 total qualifying games and 16 games of round-robin match play to determine the stepladder advancers.

Just like in 2019, all rounds of qualifying and match play leading up to the stepladder finals for the FOX events will be broadcast live on FloBowling. The stepladder finals will also be simulcast on FloBowling for international audiences.

Here’s a detailed breakdown of each of the 2020 FOX events:

PBA Hall of Fame Classic

Where: Arlington, Texas (International Training and Research Center)
When: Jan. 13-19
TV: Finals Sunday, Jan. 19, 1 p.m. ET, FS1 (Live)
Digital: Qualifying, match play, FloBowling (Live)
Field: 56 (48 + 8 PTQ)
Format: 2 squads. 12 qualifying games (6 per day, per squad). Cut to top 16 for 16 games round robin match play. Top five advance to stepladder finals.
Conditions: Dual patterns throughout (Left lane: Weber 45, Right lane: Aulby 38)
PBA Playoffs points: Tier 3 event
Defending champion: Bill O'Neill
Prize fund, ratio: $110,000. 1 in 3 cash.
Top prizes: 1. $30,000, 2. $15,000, 3. $9,000, 4. $7,000, 5. $5,000

PBA Oklahoma Open

Where: Shawnee, Oklahoma (FireLake Bowling Center)
When: Jan. 20-26
TV: Sunday, Jan. 26, 2 p.m. ET, FS1 (Live)
Digital: Qualifying, match play, FloBowling (Live)
Field: 88 (80 + 8 PTQ)
Format: 2 squads. 12 qualifying games (6 per day, per squad). Cut to top 16 for 16 games round robin match play. Top five advance to stepladder finals.
Conditions: Dual patterns throughout (Left lane: Dragon 45, Right lane: Wolf 32)
PBA Playoffs points: Tier 2 event
Defending champion: Jakob Butturff
Prize fund, ratio: $130,000. 1 in 3 cash.
Top prizes: 1. $30,000, 2. $15,000, 3. $9,000, 4. $7,000, 5. $5,000

PBA Jonesboro Open

Where: Jonesboro, Arkansas (Hijinx Lanes)
When: Jan. 27-Feb. 1
TV: Saturday, Feb. 1, 4:30 ET, FS1 (Live)
Digital: Qualifying, match play, FloBowling (Live)
Field: 60 (52 + 8 PTQ)
Format: 1 squad. 14 qualifying games (two 7 game blocks in one day). Cut to top 16 for 16 games round robin match play. Top five advance to stepladder finals.
Conditions: Dual patterns throughout (Left lane: Shark 48, Right lane: Viper 36)
PBA Playoffs points: Tier 2 event
Defending champion: Norm Duke
Prize fund, ratio: $120,000. 1 in 3 cash.
Top prizes: 1. $30,000, 2. $15,000, 3. $9,000, 4. $7,000, 5. $5,000

PBA Tournament of Champions

Where: Fairlawn, Ohio (AMF Riviera Lanes)
When: Feb. 3-9
TV: Sunday, Feb. 9, 5 p.m. ET, FOX (Live)
Digital: Qualifying, match play, FloBowling (Live)
Field: 76 (70 national champions + 6 regional champion PTQ)
Format: 1 squad. 18 qualifying games (3 game blocks). Cut to top 24 for 24 games round robin match play. Top five advance to stepladder finals.
Conditions: Johnson 40
PBA Playoffs points: Tier 1 event
Defending champion: Jason Belmonte
Prize fund, ratio: $283,000. 1 in 3 cash.
Top prizes: 1. $100,000, 2. $50,000, 3. $25,000, 4. $12,000, 5. $10,000

PBA Players Championship

Where: Columbus, Ohio (Wayne Webb's Columbus Bowl)
When: Feb. 9-15
TV: Saturday, Feb. 15, 5:30 ET, FS1 (Live)
Digital: Qualifying, match play, FloBowling (Live)
Field: 92 (82 + 10 PTQ)
Format: 1 squad. 18 qualifying games (3 game blocks). Cut to top 24 for 24 games round robin match play. Top five advance to stepladder finals.
Conditions: Webb 38
PBA Playoffs points: Tier 1 event
Defending champion: Anthony Simonsen
Prize fund, ratio: $246,000. 1 in 3 cash
Top prizes: 1. $70,000, 2. $35,000, 3. $17,000, 4. $11,000, 5. $10,000

U.S. Open

Where: Lincoln, Nebraska (Sun Valley Lanes)
When: Feb. 16-23
TV: Sunday, Feb. 23, 1 p.m. ET, FOX (Live)
Digital: Qualifying, match play, FloBowling (Live)
Field: TBA
Format: TBA
Conditions: TBA
PBA Playoffs points: Tier 1 event
Defending champion: Francois Lavoie
Prize fund, ratio: TBA
Top prizes: TBA

PBA Indianapolis Open

Where: Indianapolis (Woodland Bowl)
When: Feb. 24-29
TV: Saturday, Feb. 29, 8:30 p.m. ET, FS1 (Live)
Digital: Qualifying, match play, FloBowling (Live)
Field: 120 (no PTQ)
Format: 1 squad. Two blocks of 7 games qualifying (14 total). Cut to top 16 for 16 games round robin match play. Top five advance to stepladder finals.
Conditions: Dual patterns throughout (Left lane: Roth 42, Right lane: Holman 37)
PBA Playoffs points: Tier 2
Defending champion: Norm Duke
Prize fund, ratio: $152,000. 1 in 3 cash
Top prizes: 1. $30,000, 2. $15,000, 3. $10,000, 4. $8,000, 5. $7,000

PBA Roth/Holman Doubles Championship

Where: Indianapolis (Woodland Bowl)
When: Feb. 27-29
TV: Taped Saturday, Feb. 29, 4:30 ET. Airs Sunday, March 8, Noon ET, FS1 (taped)
Digital: Qualifying, match play, FloBowling (Live)
Field: 60 doubles teams
Format: 1 squad. Two blocks of 7 games (14 total, 28 games per team). Top 16 teams advance to 16 games of round robin match play using Baker system).
Conditions: Dual patterns throughout (Left lane: Roth 42, Right lane: Holman 37)
PBA Playoffs points: Tier 3
Defending champions: Sean Rash and Matt Ogle
Prize fund, ratio: $147,000. 1 in 3 teams cash.
Top prizes (per team): 1. $30,000, 2. $15,000, 3. $13,000, 4. $12,000, 5. $11,000

PBA World Series of Bowling

Where: Las Vegas (South Point Bowling Plaza)
When: March 6-18
TV: Five consecutive days (first four live), FS1 (Sunday, March 15 - Thursday, March 19). Times below.
Field: 120 (110 + 10 PTQ)
Total prize fund: $685,000
Events: PBA Cheetah, PBA Chameleon, PBA Scorpion, PBA World Championship, USA vs. World.
WSOB PBA Cheetah Championship
TV: Sunday, March 15, 1:30 p.m. ET, FS1 (Live)
Format: One squad. 2 blocks of 5 games qualifying (10 games total). Top 16 advance to elimination match play bracket. Surviving four players advance to TV finals. TV finals all four bowl one seeding game, then stepladder.
Conditions: Cheetah 33.
PBA Playoffs points: Tier 3 event
Defending champion: Dick Allen
Prize fund, ratio: $79,000. 1 in 7.5 cash.
Top prizes: 1. $25,000, 2. $13,000, 3. $7,000, 4. $6,000

WSOB PBA Chameleon Championship

TV: Monday, March 16, 8 p.m. ET, FS1 (Live)
Format: One squad. 2 blocks of 5 games qualifying (10 games total). Top 16 advance to elimination match-play bracket. Surviving four players advance to TV finals. TV finals all four bowl one seeding game, then stepladder.
Conditions: Chameleon 39.
PBA Playoffs points: Tier 3 event
Defending champion: Jason Belmonte
Prize fund, ratio: $79,000. 1 in 7.5 cash.
Top prizes: 1. $25,000, 2. $13,000, 3. $7,000, 4. $6,000

WSOB PBA Scorpion Championship

TV: Tuesday, March 17, 8 p.m. ET, FS1 (Live)
Format: One squad. 2 blocks of 5 games qualifying (10 games total). Top 16 advance to elimination match-play bracket. Surviving four players advance to TV finals. TV finals all four bowl one seeding game, then stepladder.
Conditions: Scorpion 42
PBA Playoffs points: Tier 3 event
Defending champion: Kris Prather
Prize fund, ratio: $79,000. 1 in 7.5 cash.
Top prizes: 1. $25,000, 2. $13,000, 3. $7,000, 4. $6,000

WSOB PBA World Championship


TV: Wednesday, March 18, 8 p.m. ET, FS1 (Live)
Format: 30 games qualifying (10 games each on Cheetah, Chameleon and Scorpion patterns). Top 40 advance to cashers round, X games on Anthony. Cut to top 24 for 24 games round-robin match play. Top five advance to stepladder finals.
Conditions: After cut to top 40, Anthony 43
PBA Playoffs points: Tier 1 event
Defending champion: Jason Belmonte
Prize fund, ratio: $385,000. 1 in 3 cash.
Top prizes: 1. $100,000, 2. $50,000, 3. $25,000, 4. $20,000, 5. $15,000

WSOB USA vs. The World

TV: Taped Wednesday, March 18, 1 pm PT. Airs next day Thursday, March 19, 8 p.m. ET, FS1 (taped)
Format: Team event. The Top 5 USA players and Top 5 international players after the first 30 games of WSOB qualifying form the teams.
Prize fund: $60,000 (Winning team: $40,000, losing team: $20,000)

USBC Masters

Where: Reno, Nevada (Grand Sierra Bowling Center)
When: March 23-29
TV: Sunday, March 29, 2:30 p.m. ET, FOX (Live)
Field: TBA
Format: TBA
Conditions: TBA
PBA Playoffs points: Tier 1 event
Defending Champion: Jakob Butturff
Prize fund, ratio: TBA
Top prizes: TBA

PBA Playoffs

Where: Round of 24 in Norco, California. Round of 16 in Lone Tree, Colorado. Round of 8, Euless, Texas, Final Four, North Brunswick, N.J..
When: Round of 24, April 6. Round of 16, April 20-21. Round of 8, May 10-11. Final Four, May 16-17.
TV: Monday, April 6, 7 p.m. ET, FS1 (Live)
Monday, April 13, 9 p.m. ET, FS1 (Taped April 6)
Monday, April 20, 7 p.m. ET, FS1 (Live)
Monday, April 20, 9 p.m. ET, FS1 (Live)
Monday, April 27, 9 p.m. ET, FS1 (Taped April 21)
Monday, May 4, 9 p.m. ET, FS1 (Taped April 21)
Sunday, May 10, 2 p.m. ET, FS1 (Live)
Monday, May 11, 9 p.m. ET, FS1 (Taped May 10)
Saturday, May 16, 2 p.m. ET, FOX (Live)
Sunday, May 17, 2 p.m. ET, FOX (Live)
Field: Top 24 in points from 2020 PBA on FOX season. All cash.
Format: Single elimination bracket. Top 8 seeds get byes into second round. First round one game matches, subsequent matches best of 2.
Conditions: Carter 39
Defending champion: Kris Prather
Prize fund: $320,000
Top prizes: 1. $100,000, 2. $50,000, 3. $25,000, 4. $25,000

PBA/PWBA Bowl Expo Cup

Where: Denver (Bowl Expo special lane construct)
When: July 5
TV: Sunday, July 5, 7 p.m. ET, FS1 (Live)
Conditions: TBA
Prize fund: TBA

PBA Summer League

Where: Portland, Maine (Bayside Bowl)
When: July 19-23
TV (4 telecasts): Tuesday, July 21, 7 p.m. ET, FS1 (Live)
Tuesday, July 21, 9 p.m. ET, FS1 (Live)
Wednesday, July 22, 9 p.m. ET, FS1 (Live)
Thursday, July 23, 9 p.m. ET, FS1 (Live)
Format: TBA. 10 teams. All players cash.
Conditions: Roth 42
Defending champions: Portland Lumberjacks
Prize fund: $360,000 (1, $60,000. 2, $50,000. 3, $35,000. 4, $35,000. 5, $25,000. 6, $25,000. 7, $25,000. 8, $25,000. 9, $20,000. 10, $20,000.)