Eat & Play

The emergence of the ‘eatertainment’ category has inspired an increasing number of successful concepts that appeal to consumers by providing high-quality food and entertainment options all at one location.

58

Properties

24%

Annualized Adj. EBITDAre*

9

Operators**

We partner with industry leading brands who consistently offer elevated, immersive experiences. Topgolf has been a leading eat and play concept in the US and is credited with revolutionizing the game of golf powered by its combination of entertainment, competition, food and fun. With over 32 million guests in 2023, Topgolf provides year-round, highly social experiences for families, novice and serious golfers, and corporate groups, generating revenue by fostering engaging outings tailored for team building and large events. Our investment in Andretti Karting & Games is aligned with our strategy to partner with innovative, experience-driven entertainment concepts.  The socially interactive environment with state-of-the-art electric karts provides a unique environment that appeals to all ages.

Our investments in both Family Entertainment Centers (FECs) and Entertainment Districts arose from deep insight into how consumers spend their leisure-time dollars. Research shows that 70% of consumers prefer to visit eatertainment formats versus typical casual dining for group occasions.** From upscale bowling and bocce eateries to retro-themed gathering spots designed to appeal to socially-motivated Millennials, our partners create vibrant destinations that allow consumers to access wide varieties of entertainment and retail for tenant success. As Millennials continue to fuel change in the industry by their emphasis on experiences, operators are creatively combining eating and entertainment options into one-stop-shops.

*See Supplemental Operating and Financial Data for definition and calculation of this non-GAAP measure.
**Excludes non-theatre operators at Entertainment Districts
***Technomic Research 2019