Introduction: What Is Eatertainment & Why It’s Gaining Ground
Eatertainment combines food service with interactive entertainment, including arcades, bowling, mini-golf, simulators, immersive dining, live performances, VR/AR, and more. For many consumers—especially younger generations—ordinary dining doesn’t cut it anymore. They want experiences, shareable moments, variety, and novelty. Traditional restaurants compete not only on cuisine but also on ambiance, entertainment, technology, and creating memorable experiences.
Post-pandemic, eatertainment has emerged stronger, with shifts toward more upscale food, tech-infused games, higher expectations for cleanliness, safety, and flexibility. Consumers are more value-conscious, but many are willing to spend more per visit if the experience is compelling. For operators and investors, this means higher capital costs, more complex operations—but also higher potential returns if done well.
Below, we look at the key trends shaping the future of eatertainment, then dive into profiles of major players—Puttshack, Topgolf, Pinstripes—and other brands, comparing their unit economics, footprints, expansion strategies, and challenges.
Key Trends Shaping the Future of Eatertainment
- Technology Integration & Proprietary Systems
Brands are increasingly using proprietary tech to differentiate—self-scoring mini-golf, automated ball tracking (as Puttshack), advanced simulator systems, projection mapping, AR/VR overlays, etc. These helps with guest engagement, throughput, and marketing shareability. Nation’s Restaurant News+2Restaurant Dive+2 - Fewer Games, Bigger Investment & Elevated Food/Drink
Eatertainment concepts are moving from having many small entertainment options (arcades, pinball, etc.) toward focusing on one or two “anchor” games (e.g. bowling, mini-golf, bocce, simulators), but elevating the food, drink, design, and overall hospitality. The food and beverage side is no longer secondary—it’s critical. Nation’s Restaurant News+2Restaurant Dive+2 - Multi-purpose & Event-Driven Revenue Streams
Private events, corporate gatherings, parties are increasingly important. Nearly half of sales for some eatertainment brands come from event business. That creates a more stable revenue stream, helps smooth seasonality, and improves profitability. Nation’s Restaurant News+1 - Real Estate & Footprint Considerations
These venues tend to require large footprints (often tens of thousands of square feet), premium locations or mixed-use developments, high build-out costs, often with landlord or developer participation. Real estate strategy is often a make-or-break. ICSC+3Restaurant Dive+3franchiseek.com+3 - Branding, Social Media & Experiential Design
Visitability, shareability, unique design aesthetic, immersive experiences, photo-ops, Instagram/TikTok worthy moments are central. Live entertainment, thematic nights, rotating features help keep the concept fresh. CKitchen+1 - Operational Complexity & Cost Pressures
Labor, food costs, real estate, utilities, insurance, maintenance for games/tech, licensing for liquor & games—all add up. Also, customer expectations are higher (staff friendliness, speed, hygiene, tech working reliably). Brands need tight operations, strong vendor negotiation, cost control, training. Nation’s Restaurant News+2Restaurant Dive+2 - Resilience During Downturns
Eatertainment with multiple revenue streams (food, drink, games, events) tends to be more resilient. People may cut back on travel or big spend, but for “a fun night out” or local experiences, many will still spend. Venues that offer affordable tiers, flexibility, are well positioned. Larks Entertainment+1 - Gen Z and Millennial Consumer Expectations
Prioritize experience, authenticity, social connection. They value transparency, sustainability, community. Expect digital convenience (ordering, payment, reservations), loyalty programs, unique food/drink offerings. CKitchen+1
Profiles of Key Eatertainment Brands
Below are detailed profiles of selected eatertainment operators to understand what is working, what scale looks like, and what it costs to play in this space.
Puttshack
- What it is: Modern indoor mini-golf + dining + drinks + tech. Self-scoring golf balls, stylish ambiance, cocktails. Founded by Topgolf founders and others. ICSC+2Puttshack+2
- AUV (Average Unit Volume): ~ $12 million per location. Restaurant Dive+1
- Revenue Mix & Margins: AUV driven heavily by games and drinks; mini-golf (games) are roughly 40% of revenue, with food & drink skewed toward elevated beverage offerings. Margins on gaming are very high (reportedly ~95% for the gaming portion). Restaurant Dive+1
- Locations / Growth: Puttshack is rapidly expanding. Received large growth capital (e.g. $150 million from BlackRock) to support expansion. Forbes+2ICSC+2
- Franchise / Investment Requirements: Specific franchise cost data not fully public. Capital requirements are high due to large build-outs, technology, real estate. Example: initial investment capital injections, large venues. (Franchising model may vary; more common in company-owned expansion.) ICSC+2Nation’s Restaurant News+2
- Footprint / Square Footage: Exact average sq ft per Puttshack location less well documented in public sources, but large indoor mini-golf venues plus dining & bar. Real estate and build-out costs are substantial. (Given AUV, expect large, high-ceiling interiors, 20,000+ sqft in many cases.)
- Strengths & Challenges: Strong tech differentiator, high unit revenue, premium positioning. Challenges include capital intensity, real estate availability, maintaining novelty, cost inflation, scaling labor/training.
Pinstripes
- What it is: Combination of Italian-American dining, bowling, bocce courts, event spaces. Focus on more upscale restaurant plus entertainment rather than just games. PitchBook+3Nation’s Restaurant News+3Restaurant Dive+3
- Locations & Status: As of recent reporting, Pinstripes had 18 locations listed (with some “coming soon”) across nine states in the U.S. Nation’s Restaurant News+1 However, significant financial and performance challenges lately: in 2025 the company filed for Chapter 11 bankruptcy due to debt, declining locations, cost pressures. Restaurant Business Online+2Wikipedia+2
- Average Unit Volume (AUV): Approximately $7.4 million per location. Bondoro+2Nation’s Restaurant News+2 In other commentary, Pinstripes’ target/scope for some units is $9-10 million, with some reaching up to ~$12-13 million in localized high performance venues. FSR Magazine+2Restaurant Dive+2
- Footprint / Size: Large format venues. Interiors usually around 25,000 to 30,000+ sq ft, some up to 38,000 sq ft including interior and sometimes with outdoor patios etc. Restaurant Dive+2PitchBook+2 Venues are often two-level, include multiple bowling lanes, bocce courts, private event rooms. Securities and Exchange Commission+2Nation’s Restaurant News+2
- Revenue & Event Mix: Food & beverage typically ~70-75% of revenue; games (~bowling, bocce) ~20-25%. Private events are a major piece, ~50% of revenue in some locations. Nation’s Restaurant News+1
- Franchise / Investment / Growth Ambitions: Pinstripes has been growing via company-owned model; exploring real estate partnerships. Typically targeting marquee mixed use or lifestyle centers. Plan ambition includes growth to 150 units over time. Restaurant Dive+1 But financial headwinds are real. Restaurant Business Online+1
- Challenges: High operating expenses (real estate, labor, maintenance, utilities), diminishing traffic in some open-play segments, debt load, macroeconomic cost pressure, difficulty maintaining consistent performance across all units. Restaurant Business Online+1
Topgolf / Topgolf Entertainment Group
- What it is: Golf-driving range + entertainment + food & beverage + technology (ball tracking, scoring, etc.), often with live music or event space. Venues are “sports entertainment” destinations. Nation’s Restaurant News+2Top Franchise+2
- Locations: There are ~80 Topgolf locations globally. Wikipedia
- Franchise / Investment Costs: To open a Topgolf franchise (or venue) is very capital-intensive. Estimated full cost to build and open a venue ranges from $15 million to $50 million, depending on size, location, real estate, permits etc. Franchise fee ~ $75,000 in some reporting. franchiseek.com+1
- Footprint / Size: Topgolf venues require large property given driving ranges, multiple bays, restaurant/bar, outdoor/indoor seating, parking etc. Specific sq ft vary widely depending on number of bays and land. Luxury and land cost are major constraints.
- Unit Economics & Revenue: Topgolf has among the highest visibility and has proven the model globally. Their revenue per venue tends to be very strong due to the mix of games + food + drinks + events. Exact AUV figures vary by market and location, but the model relies heavily on premium guest experience and throughput. (Public data is less specific per-venue than for Puttshack or Pinstripes).
- Strengths and Challenges: Strong brand recognition, tech investment, high guest frequency (both casual and event-driven), but high initial capex, need for strong real estate, regulatory issues, seasonal/weather exposure (depending on location), and high cost to maintain driving range / construction.
Other Notable Eatertainment / Experiential Dining Brands
Below are some other eatertainment / experiential dining / social gaming brands, with more limited public data, but worth knowing.
| Brand | Description / Format | Locations (approx) | Footprint / Size Notes | Other Key Metrics / Highlights |
|---|---|---|---|---|
| Dave & Buster’s | Classic arcade games + full-service restaurant + bar + video arcade (“Million Dollar Midway”) | ~158 in U.S., plus a few in Puerto Rico / Canada as of early 2024. Wikipedia | Size varies widely; newer concepts (“store of future”) include enhanced social gaming features. Wikipedia+1 | Strong brand, reliant on F&B + games mix. Operates both dine-in and gaming revenue streams. Challenges: real estate, competition from home gaming, cost pressures. |
| Monster Mini Golf | Indoor glow-in-the-dark mini golf + arcade & party rooms | ~31 locations across U.S. & Canada. Wikipedia | Venues average ~9,000 to 12,000 sq ft, often strip malls or stand-alone properties. Wikipedia | Lower capex vs large anchor venues; strong party / special event business; |
Comparative Metrics & What They Tell Us
Comparing some of these brands side-by-side gives insight into what success looks like, what the risks are, and what it takes to scale.
| Metric | Puttshack | Pinstripes | Topgolf | Dave & Buster’s | Monster Mini Golf |
|---|---|---|---|---|---|
| AUV | ~$12 million | ~$7.4M (typical), some units up to ~$10-13M | Not publicly homogeneous; high revenue per venue in busy markets | Varies widely; less than Puttshack/Pinstripes at high end, but strong in core markets | Much lower, scaled for smaller venues |
| Footprint / Sq Ft | Large indoor mini-golf + dining; likely 20,000+ sqft in many units | 25,000-30,000+ sq ft typical, up to ~38,000 in flagship venues Bondoro+1 | Very large; requires land for driving ranges etc. | Varied; arcade + restaurant + bar generally in large buildings or malls / stand-alone | ~9,000–12,000 sq ft typical |
| CapEx / Investment Cost | High; includes technology, build-out, land, food & beverage + game equipment | High; large real estate, build-out, gaming equipment, F&B quality | Very high; franchise cost $15-50 million, land & construction intensive | Moderate to high depending on game equipment and location | Lower relative to large anchor venues; more accessible to smaller operators |
| Revenue Mix | Games + drinks + food; drinks more weighted for margin; events & alcohol are lucrative Restaurant Dive+1 | Strong F&B majority; events are ~50% or more of revenue in some locations; games / play less central but essential flavor Nation’s Restaurant News+1 | Games / play + F&B + events + bar; heavy dependency on scale and throughput | Mixed games & F&B; balancing act between food costs, games maintenance, guest turnover, beverage margins | Smaller venues lean more on F&B + party / event bookings |
What the Data Suggests for the Future: Lessons & Opportunities
Based on the metrics and trends, here are some predictions and strategic lessons for what will define success in the next wave of eatertainment:
- Anchor Entertainment + Elevated F&B is Winning
Brands that anchor themselves around one or two entertainment types (e.g. bowling + bocce, mini-golf, simulators) but pair that with high quality food & drink, good design, and strong event capacity tend to achieve higher AUVs and guest loyalty. - Event Business is Critical
Private events (corporate, weddings, parties) provide recurring, higher margin business. Eatertainment venues that build their spaces to accommodate events, invest in event sales teams, and deliver consistent experience in event settings tend to have more stable revenue and better profitability. Pinstripes is an example. Nation’s Restaurant News - Real Estate Strategy & Developer Partnerships
Finding the right location, in the right development (mixed-use, lifestyle center, high traffic), often with landlord or developer investment, is essential. Also, the size and layout matter: spacious interiors, ability to host simultaneous events & open play, ancillary spaces (outdoor patios, fire pits, etc.). Managing build-out cost and optimizing square footage is key. - Technology & Novelty Must Be Sustained
The novelty of games / technology draws guests, but over time, guests expect reliability, updates, new features. Maintenance costs for game equipment are nontrivial. Brands that maintain freshness (rotating themes, new games, projection mapping, immersive design) will have an edge. - Cost & Operational Discipline
High fixed costs (rent, utilities, depreciation of game equipment, labor) mean eatertainment venues are vulnerable to inflation, rising wages, supply chain issues. Brands that can control cost (vendor negotiation, optimizing labor, leveraging event business, adjusting hours) will manage profitability better. - Scaling Carefully
Growth is expensive. Rushing to open many units without solid operational backbone, marketing, staff training, supply chain, financial capacity can lead to trouble (as seen with Pinstripes recently). Scalable systems, strong leadership, capital planning, flexibility matter. - Flexibility & Hybrid Models
Flexibility in offerings (casual open-play hours, food-amp-drink focus vs game-centric hours, events vs walk-in), dynamic pricing or promotions, adaptability to local market preferences are important. Also consider hybrid models: smaller footprint, fewer games but higher margins; or pop-ups / branded experiences. - Sustainability & Consumer Values
Consumers increasingly care about sustainability, local sourcing, wellness, community. Eatertainment concepts that incorporate environmentally friendly practices, support local culture / talent, and maintain transparency will resonate more deeply.
Risks & What to Watch Out For
- High Capital and Build-Out Costs – Costs of land, construction, permits, equipment (gaming machines, simulators, lighting etc.) are large. Financing must be carefully arranged.
- Location Risk – Real estate is critical. Poor site choice (low visibility, insufficient parking/traffic, wrong demographic) hurts performance.
- Rising Costs — Labor, food, utilities, repairs for game equipment, licensing for games or alcohol. Inflation and supply chain volatility can erode margins quickly.
- Consumer Fatigue — Novelty can wear off; guests expect freshness. If nothing changes, repeat visits may decline.
- Regulation / Licensing — For games, alcohol, zoning, etc. These can vary drastically by municipality.
- Competition — As eatertainment becomes more popular, more entrants will join, increasing competition for guests, sites, and labor.
The Outlook: What Eatertainment Will Look Like in 5-10 Years
- Greater localisation of concepts: smaller, more agile venues tailored to local culture and preferences.
- More immersive and multi-sensory experiences using AR/VR, projection, sensory design.
- Increasingly hybrid formats (pop-ups, outdoor + indoor, flexible event spaces).
- More subscription / membership models or loyalty programs to drive repeat visits.
- Use of data analytics for guest personalization, predictive maintenance of games, dynamic pricing.
- Partnerships with real estate developers to integrate eatertainment into mixed-use developments, residential, hospitality, etc.
- Stronger focus on sustainability: green building, energy efficiency, sourcing, waste reduction.
What Brands and Operators Should Do Now
- Define Your Unique Value Proposition – Is your strength in food? design? games? atmosphere? Events? Be clear.
- Start With a Scalable Prototype – Test in 1-2 units before expansion. Validate food quality, guest flow, staffing, costs.
- Invest in Tech & Design Early – But build for maintainability. Guest expectations around tech should work seamlessly.
- Optimize Revenue Streams – Don’t rely only on walk-in gaming; build events, private dining, drinks + bar, merchandising if relevant.
- Monitor KPIs Closely – AUV, guest spend per head, repeat rate, food cost %, labor cost %, turn times, event occupancy.
- Negotiate Real Estate & Build-Out Deals Aggressively – Securing favorable landlord contributions, TI (tenant improvements), real estate in mixed-use or lifestyle centers.
- Stay Agile – Be ready to pivot menus, adjust hours, vary entertainment schedule to meet local demand.
Case Study Comparisons: Puttshack vs Pinstripes vs Topgolf
To crystallize what works (and what doesn’t), here are direct comparisons:
- Puttshack has achieved very high AUVs (~$12M) by leaning more heavily on game/entertainment + drinks, using proprietary scoring technology, and focusing on guest throughput and location quality. Their model shows what’s possible if you can properly execute game tech + bar + dining at high frequency.
- Pinstripes shows what happens when you anchor more on food & events with gaming as a complement. Good yields, but also exposed to operating costs and market pressure. Their recent financial challenges underscore that high fixed costs + debt + expansion risk can weigh heavily.
- Topgolf remains one of the largest and most proven, but for a reason: obvious brand strength, scale, massive investment, strong real estate plays, high visibility. Not an easy model to replicate, but offers useful benchmarks for revenue potential, investment scale, guest experience.
Summary & Final Thoughts
The future of eatertainment looks bright—but it won’t be easy. Brands that will win are those that combine strong entertainment anchors with elevated food & beverage, optimize event revenue, select real estate smartly, invest in guest experience & design, and maintain rigorous operational discipline.
For investors, the opportunity is large—if risks are calculated. For restaurateurs and operators, it’s a chance to elevate what dining out means and how guests view leisure, socializing, and food together.
To add alitte I also pulled out some of the other growing brands in the space:
| Brand | Description / Format | Known Locations or Reach | Footprint / Size Notes | Key Features / Notes |
|---|---|---|---|---|
| Topgolf | Tech-driven golf driving range + food & beverage + events | 80+ worldwide | Very large (multi-level ranges) | Market leader in social golf; high capex |
| Puttshack | High-tech mini golf + cocktails + dining | U.S. & U.K., rapid growth | 20k+ sq. ft. | Proprietary self-scoring balls; ~$12M AUV |
| Pinstripes | Bowling + bocce + Italian-American dining + events | ~18 U.S. | 25–38k sq. ft. | Event-heavy revenue mix; ~$7–9M AUV |
| Dave & Buster’s | Arcade + bar + restaurant | 150+ North America | 25–40k sq. ft. | Established FEC brand, strong bar sales |
| Main Event | Bowling + arcade + laser tag + casual dining | 50+ U.S. | 45k+ sq. ft. | Family/corporate events; owned by D&B |
| Bowlero | Modern bowling alleys + bar & kitchen | 300+ U.S. | 20–30 lanes typical | Biggest bowling operator in U.S. |
| Chuck E. Cheese | Kids’ arcade + pizza + parties | 500+ worldwide | 10–15k sq. ft. | Family-centric legacy chain |
| Smash Park | Pickleball + duckpin + arcade + karaoke + bar | Midwest + new markets | ~30k sq. ft. | Broad social games + events |
| Chicken N Pickle | Pickleball + restaurant + bar + events | KS, MO, TX, AZ, etc. | Large indoor/outdoor complexes | Social sports + beer garden |
| Punch Bowl Social | Bar + restaurant + bowling + karaoke + arcade | Major U.S. cities | Large urban footprints | Hipster vibe; eclectic design |
| SPIN | Ping pong clubs + cocktails + food | NYC, CHI, SF, TOR, etc. | Compact, urban lounges | Social play focus |
| F1 Arcade | Formula 1 racing simulators + F&B | London, Boston, Vegas | Moderate-large | Premium VR racing |
| Sixes Social Cricket | Indoor cricket nets + bar & grill | U.K. + Dallas | Medium | Cricket as social sport |
| Camp Pickle | Pickleball + retro camp-themed F&B | Denver, Tulsa, etc. | Large, multi-court | Taps pickleball boom |
| Jaguar Bolera | Multi-games (duckpin, karaoke, darts) + food | Raleigh, NC | Medium-large | Eclectic mix; social atmosphere |
| Roaring Social | Boutique bowling + cocktails + live music | Atlanta | Smaller, upscale | Nightlife focus |
| Flight Club | Tech darts + food & cocktails | U.K., U.S., AUS | Medium | Social darts pioneer |
| Electric Shuffle | Shuffleboard + dining/bar | Dallas, Austin, NYC | Medium | Stylish, group play |
| Fowling Warehouse | Football-bowling mashup + bar | Midwest/East Coast | Warehouse-style | Novel activity + event sales |
| Level 99 | Immersive challenge rooms + gastropub | Providence, MA | 30k+ sq. ft. | Puzzle + physical games |
| Alamo Drafthouse | Dine-in movie theater chain | 30+ U.S. states | Standard cinemas | Pioneer of movie + dining |
| Bad Axe Throwing / Stumpy’s Hatchet House / Axe Club | Axe throwing venues + bar | 100+ combined across N.A. | Moderate | Party-friendly; alcohol-driven |
| Kompleks Indoor Soccer / Micro Soccer Lounges (e.g. Strikerz Sportsplex, Soccer Stars Lounge) | Indoor/micro soccer + bar/dining | Regional operators | Varies; midsized warehouses | Niche sports + social model |
| Glowball Mini-Golf Brands (Monster Mini Golf, Putting Edge, Mini Golf USA) | Indoor glow mini golf + arcades/events | Dozens in U.S./Canada | 9–15k sq. ft. | Party-driven; lower capex |
| Puttery | Upscale indoor mini-golf + cocktails | Major U.S. metros | 15–20k sq. ft. | Owned by Drive Shack |
| Five Iron Golf | Indoor golf simulators + leagues + kitchen/bar | 25+ U.S./global | 12–20k sq. ft. | Popular among urban golfers |
| X-Golf America | Golf simulators + lounge | 90+ U.S. | 5–15k sq. ft. | Franchise model |
| BigShots Golf | Golf simulators + ranges + F&B | TX, OH, FL, etc. | Large land parcels | Topgolf competitor |
| Fairway Social | Simulators + putting + dining | Georgia | 10–15k sq. ft. | Hybrid golf + lounge |
| Pickle & Social | Pickleball + lawn games + dining | Georgia, expanding | Large | Social pickleball |
| PINS Mechanical Co. | Duckpin bowling + pinball + bar | Midwest/Southeast | 20–30k sq. ft. | Hip 21+ venues |
| Andretti Indoor Karting | Kart racing + bowling + arcade + dining | GA, TX, FL, AZ | 100k+ sq. ft. | High capex, multi-attraction |
| Round1 Bowling & Amusement | Japanese FEC chain; bowling + arcade | Dozens in U.S. malls | 40–60k sq. ft. | Karaoke, crane games, casual F&B |
| Scene75 | Regional mega family entertainment centers | Midwest | 120k+ sq. ft. | Largest FECs in U.S. |
| Escape Room + Dinner Combos (e.g. Escapology w/ restaurant partners) | Escape rooms + dining | Global | 5–15k sq. ft. | Group events; scalable |
| Sandbox VR | Group VR + lounge | 40+ worldwide | 5–10k sq. ft. | Premium VR rooms |
| VR Junkies / Other VR Arcades | VR gameplay + bar/dining | Regional | 5–10k sq. ft. | VR-focused FEC |
| House of Blues | Live music + Southern dining/bar | U.S. major metros | Medium-large venues | Concert-driven |
| Blue Note | Jazz clubs + dining | NYC, Hawaii, Tokyo, etc. | Medium | Iconic music/dining |
| Hard Rock Café (with live acts) | Music-themed restaurants + live music | 50+ worldwide | Large tourist-centric | Iconic global brand |
