Much like a phoenix rises from the ashes, so too has the multi-entertainment center concept recovered from setbacks over the last few years to once again be in growth mode. These one-stop, multi-game entertainment venues offer a wide assortment of activities — arcades, bowling, bocce ball, dining and drinks — that appeal to all age segments, from families to college-aged Gen-Zers to the after-work millennial crowd. In addition, these entertainment centers cater to large group gathering events such as office holiday get-togethers or birthday parties. Look for Dave & Buster’s, Main Event, Round1 Entertainment and Punch Bowl Social to all be seeking sites for their multi-game concept venues.
Last year, Dave & Buster’s Entertainment Inc. purchased Main Event, another family entertainment brand, and expects to open between 15 and 18 new units per year over the next 10 years at least. For now, approximately 30% of these new openings will be the Main Event brand. That may change as Dave & Buster’s determines the best types of sites for both entities.
Dave & Buster’s will be opening more venues in the 19,000- to 25,000-s.f. range, which are much smaller than its usual 40,000-s.f. facilities. These smaller units will help fill in secondary market spaces, especially in states where the brand already has a presence. For example, by 2024 it will occupy a 25,000-s.f. former Bon-Ton department store in the Oakdale Commons regional mall in Johnson City, N.Y. The smaller units will also continue to occupy second-generation spaces in regional malls and lifestyle centers in suburban metros that attract a large number of young adults, in the 21- to 35-year-old range, especially near business parks and other communal gathering tenants such as Regal Cinemas. Dave & Buster’s will be reconfiguring its smaller units to include a larger number of high-definition TV screens in order to provide more immersive sports viewing opportunities. This is Dave & Buster’s effort to increase its customer base by appealing to sports bar fans.
Look for Main Event to open in new regions beyond the South, where the brand already has a strong presence, such as its upcoming 49,000-s.f. Michigan location, its first in the state, which will open in 2024 on a separate parcel of the super-regional Woodland Mall in Kentwood. Main Event will be focused on opening venues between 45,000 and 55,000 s.f., in thriving, high-profile super regional suburban malls with other family friendly destination co-tenants such as The Cheesecake Factory. Anticipate some of the current larger Dave & Buster’s locations to be converted into Main Events, especially in sites outside of the South. If these conversions take place, Dave & Buster’s may also open more of its smaller venues in the same market. While both Dave & Buster’s and Main Event offer elevated dining and alcoholic drinks, the former primarily concentrates on arcade-themed entertainment, while the latter provides other options such as bowling, laser tag, mini golf, escape rooms and virtual reality immersive experiences.
Round1 Entertainment, which originated in Japan, anticipates opening between 10 and 15 new sites per year over the next five to six years. All regions of the U.S. are considered, with untapped areas in the West, such as California, Arizona and Nevada being targeted. The suburbs of major metros along the East North Central and Northeast states, especially in Connecticut and Illinois, will also be getting new units. In the future, expect untapped highly populated regions in Florida, Texas and the Carolinas to also be eyed for growth.
Round1 specifically seeks out 45,000- to 120,000-s.f. units in super-regional indoor malls in outlying suburban communities. Second-generation units work well, such as the 49,000-s.f. former Nordstrom space in the Stonestown Galleria mall in San Francisco that will open by early 2024. Ideally the site should be close to a food court and the shopping center should have a movie theater on the premises, such as an AMC Theatres. The population near the site should be at least 150,000 within five miles and 600,000 within 20 miles.
Two years ago, Round1 introduced its “Spo-Cha” (short for Sports Challenge) builds in the U.S., which offer indoor sports complex type recreational activities in addition to the usual entertainment options, such as batting cages, putting greens, dodgeball, roller skating, table tennis, badminton and basketball. There are now four of these Spo-Cha sites in the U.S., which account for the larger square footage requirements (in the 80,000- to 120,000-s.f. range). The standard Round1 sites, between 45,000 and 75,000 s.f., offer the usual fun activities depending on space allotment, including arcades, bowling, billiards, karaoke, trampolines, darts and food/beverages, including alcohol.
Taking A Punch, But On the Road to Recovery
Although Punch Bowl Social took a major hit in recent years, including declaring bankruptcy in 2020, the brand has since revitalized by not only reopening 15 previously closed locations, but also by committing to opening new units in the future at a rate of up to three in 2024, and between five and 10 in 2025. Punch Bowl Social remained mum on where the new locations will be, but did announce a new 20,970-s.f. restaurant will open by the spring of 2024 in Franklinton, Ohio, a neighborhood just outside of Columbus, on the ground floor of a new mixed-use residential building constructed by Kaufman Development.
Punch Bowl Social restaurants are between 20,000 and 30,000 s.f. with a patio, and are generally situated in corner lots or standalone buildings in high-profile urban metro markets, including retail street-front buildings, ground-floor spaces of mixed-use buildings or open-air lifestyle centers. Site can be off Main and Main but should be in close proximity to a walkable nightlife element, including a sports stadium, or a movie theater, such as Regal Cinemas. Potential markets include Miami or Orlando, Fla., Charlotte or Raleigh, N.C., St. Louis and Phoenix. Punch Bowl Social is famous for its upscale culinary offerings, craft cocktails that can be served in a huge punch bowl, as well as its entertainment, such as arcades, bowling, billiards, karaoke and darts.
