Posted on: July 26, 2023, 01:48h.
Last updated on: July 26, 2023, 01:58h.
You can take a different kind of golf shot next year on the Las Vegas Strip when an adult miniature golf experience called Swingers Crazy Golf opens in 40K square feet over three floors inside Mandalay Bay.
According to Bloomberg, Swingers will feature five indoor courses, live DJs, a food hall, and cocktails. “Crazy golfers,” as Swingers calls their 21-and-over customers, sip on $17 frozen palomas between holes.
“Vegas is the home of entertainment globally, so we’ve always had one eye on it,” Matt Grech-Smith, co-founder and co-CEO, told Bloomberg, though he admitted that MGM Resorts International approached Swingers with the idea.
Swingers began as a pop-up in an East London warehouse in 2014. It currently has five locations — three in the US and two in London. Its New York City location, tucked under the Virgin Hotel, welcomes as many as 8,000 players per week, according to the company. A round of golf there costs around $24.
Its latest expansion, which will also launch a Dubai presence, will reportedly cost $52 million, funded in part by Cain International Advisers Ltd.
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“Our concept usually revolves around the English country golf club, so even though venues are indoors, they feel like they’re outside and are covered in plants and trees,” Grech-Smith said. “For Vegas, we wanted to go bigger and better. Instead of the English country golf club, let’s make it an English country house and make it the best house party that people have ever been to.”
Swingers, a privately held company, expects $60M in annual revenue this year and $150M by 2026, which would result in a valuation of around $500 million.
“We’re obviously feeling bullish about the future, and the fact that our investors have put a whole load more cash into the business shows that they are, too,” Grech-Smith told Bloomberg.
