Sports entertainment company Smaaash on Friday said it has clocked a 22 percent growth in revenue at Rs 300 crore in calendar year 2019.
With 41 outlets as of December 2019, Smaaash’s per store gross sale was Rs 350-600 per sq.ft. on an average. The revenue from the sale of game cards accounts for approximately 75-85 percent of total revenue for most Indian centers across all FECs. In contrast, sale of game cards accounts only account for 45-55 percent of revenue in developed countries; the rest comes from food and beverage (F&B) sales and merchandising.
“We have been selling our proprietary VR (virtual reality) and simulator games internationally, which have been installed in 30 plus countries until now,” Shripal Morakhia, Founder, Smaaash said.
A third of the revenue came from food and beverage operations, an official statement said. F&B revenue contributed about Rs 100 crore plus from 17 F&B locations in which it runs F&B with Games attractions.
Over 5 million people visited its 41 stores in 19 cities during the year, it said adding that it manages over 6.5 lakh square feet of space at present.
Smaaash was founded by Shripal Morakhia and supported as a Brand Ambassador by Sachin Tendulkar. With operations having begun in 2012 with its first center of over 80,000 sq ft in Mumbai, Smaaash currently manages over 650,000 square feet of area in India. It owns and operates entertainment centers for sports such as cricket, football, go-karting, bowling and also virtual games with arcade games and carnival attractions with vending and redemptions games along with F&B in 41 centers in 19 cities across India along with one center in Jeddah, Kingdom of Saudi Arabia.
The company acquired bowling venture bluO Entertainment from PVR and Major Cineplex Group and Sri Venkateshwara Multiplexes-owned SVM Bowling and Gaming for an undisclosed amount in the previous years.
“The gaming and entertainment business benefited greatly from this consolidation, as the scale significantly enhanced operational efficiencies and brand value and helped us become India’s biggest entertainment FEC chain,” Morakhia added.