State of Play Hospitality, the operator of Hijingo, Bounce and Flight Club North America, plans to double its estate in 2024, as it reported a transformational year.
December was a record month for the group with a 34% year-on-year increase (+8% LFL).
The UK was up 32% vs December 2022 and +9% LFL.
Revenue for year to March 2024 is expected to be over 30% up on the prior year.
In the year to March 2023, the group delivered total revenue of £35.3m, more than double the previous year, and returned to post pandemic profit, despite significant investment into its central team.
State of Play opened three new venues during the financial year, two Flight Clubs in Atlanta and Denver and Bounce Battersea Power Station in London, the first new Bounce for eight years re-launching the brand with a new design.
The estate has grown to 11 venues with seven in the US and four in the UK.
In the UK revenue was £13.3m, an increase of 40% over the previous year.
The Group expects to more than double its estate over the next two years with at least five venues scheduled to open in 2024.
Over the last year the group also reported significant progress with its ESG agenda including its global Sustainability initiative “Play with Purpose”, and Bounce Farringdon awarded the Greengage ECOsmart silver accreditation, an industry certification that recognises credible sustainability practices.
Toby Harris, CEO of State of Play commented: “Last year was pivotal for State of Play, along with achieving significant organic growth we invested heavily in our leadership team especially in the US. I’m very excited about what lies ahead for the group given we now have the management platform in place to deliver on our growth plans and realise the full potential of the business.”
