Crazy golf concept Swingers secures £40m in new investment
The parent company of crazy golf concept Swingers has raised $52m (£40.4m) in new investment to fund its expansion worldwide.
The ‘competitive socialising' brand was founded as a London pop-up in 2013 and has since expanded to two sites in the city, two in Washington D.C and one in New York City.
It is expected to turn over $60m (£46m) in 2023 and reach at least 15 locations by 2026, bringing in nearly $150m (£116m) in annual revenue, which the company said would value it at around $500m (£389m).
Swingers aims to reinvent crazy golf for an audience over the age of 21, with the addition of craft cocktails served by caddies on the courses, street food and DJs.
Part of the funding has been led by Cain International, owner of the Prezzo restaurant chain, which first invested in Swingers in 2018.
Swingers is set to open a flagship site in Las Vegas' Mandalay Bay Resort and Casino in autumn 2024. The 40,000 sq ft site will feature five crazy golf courses over three floors with an English ‘country house' concept.
In spring 2024, the group will open its first franchise site in Bluewaters Island in Dubai, in partnership with Daud Investments.
Jonathan Goldstein, chief executive of Cain International and chair of Swingers, said: "We remain hugely confident in consumer appetite for experience-centered entertainment and are delighted to continue our support of the brand as it delivers its unique offering to new markets."
