|State of Play Hospitality|
|Deal:||Investment of $10m by Red Engine|
|About the client:||State of Play Hospitality is a rapidly growing international operator of technology-enabled, premium experiential entertainment concepts. Since launching its first concept, Bounce, in London in 2012, State of Play has gone on to launch and operate several more industry leading experiential concepts in the USA and UK including AceBounce, Flight Club (operated under licence), and Hijingo.|
|About the transaction:||The new funding builds upon State of Play’s initial raise of more than $35m from existing investors and Bregal Partners in March 2022.
Red Engine’s investment gives it a minority stake in State of Play and Steve Moore, co-founder and chief executive of Red Engine, will join the board as a non-executive director. Red Engine is the owner of the Flight Club brand which State of Play licences in North America. Akur acted as exclusive financial adviser to State of Play on the minority investment by Red Engine.