Bowlero to go public at $2.6 billion

• Expect the SPAC deal to enable more bowling center acquisitions, as there are still thousands of independent mom-and-pops.

The big picture: There’s growing momentum around casual athletics, in which bowling is the first mover — particularly among younger people who are seeking a night out that combines socializing with something beyond sitting at a bar.

• Topgolf, an operator of driving range centers, was recently acquired at a $2 billion valuation by Callaway Golf, and is expanding.
• TOCA, an operator of experiential soccer centers, recently raised $40 million in Series E funding, led by a former Topgolf investor. This one is much more focused on sport than social, but the underlying trendlines are similar.

The bottom line: Bowling is going upscale and to the right, with investors taking notice. Don't be surprised to soon see lots of rollup plays that view themselves as Bowlero-for-X.