MUMBAI: Smaaash Entertainment, co-owned by Shripal Morakhia and Sachin Tendulkar, has acquired 100 per cent stake in SVM Bowling and Gaming, a popular bowling and entertainment format operated by SVM (Sri Venkateshwara Multiplexes).
The development comes just a month after the sports based entertainment company acquired 100 per cent stake in bluO entertainment, a premium bowling and entertainment format operated by PVR.
An Economic Times report pegged the blueO acquisition at Rs 860 million. Morakhia told ET, "We are ready to invest Rs 120 crore between now and March next year on changing the product mix in BluO, this (new) acquisition and opening new properties in 10 new cities, including Indore, Raipur and Siliguri. Some of the properties will be launched within this calendar year."
The SVM acquisition will add 13 centres to Smaaash's properties in the country, eight of which are owned by SVM while five units are owned by franchises.With the SVM deal, Smaaash has 26 centres in 13 cities in India and one in the Mall Of America - the largest mall in the US.
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