18 Jan 2018
Ten Entertainment wants to lure families away from their mobile phones
BY Liz Terry
Listed tenpin operator, Ten Entertainment, has announced its full-year trading update for 2017, showing like for like sales growth of 3.6 per cent, with this accelerating in the second half of the year to 7 per cent. It will announce full-year results on 21 March.
The company is growing by acquisition with plans to add 3-4 sites a year to its portfolio, which currently numbers 40.
Ten Entertainment bought three sites in 2017 and closed one underperforming location.
CEO Alan Hand told Leisure Opportunities he continues to see a great fit for tenpin in drawing footfall to the fast-growing trampoline park sector, as well as to more traditional leisure park locations.
“People have forgotten how to play together,” said Hand. “Our business focuses on making opportunities for families to enjoy their leisure time together and gives them a break from staring at their phones.”
The company did an IPO last April (2017) and is effectively now in a duopoly with Hollywood Bowl, which has 58 sites.
Hand said the business is growing by taking over independent sites which have been underperforming due to lack of investment and strengthening the businesses with investment. This has included the introduction of Pins and Strings systems which have led to operational efficiencies.
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