It also aims to open 45 venues by 2030 to take its global estate to 84 sites.
The operator that runs competitive socialising with eating and drinking venues in the UK and worldwide, revealed its plans as it reported its full-year results for 2024.
The group, co-founded by CEO Steve Moore, is set to open Electric Shuffle sites in Kings Cross, London, and Chicago, US, this spring-summer with a Newcastle opening for Flight Club by the end of 2025.
The group said its latest results “underscore a decade of strong and continuous growth”.
It added: “Despite the well-documented challenges faced by the hospitality industry last year, Red Engine ended 2024 on a high, with sales totalling £77.1m, a 15% increase on 2023’s £66.8m.
“Red Engine’s sales combined with its franchise partners reached £118.3m. The company expects to see EBITDA (earnings before interest, taxation, depreciation and amortisation) growth for 2024 v 2023. Its EBITDA for 2023 was £12m.”
New records
The group revealed its fourth quarter fiscals last month (February), which saw a 24% leap in sales.
Red Engine CFO Ross Shepley-Smith said: “Despite a year of pressures on the hospitality sector we are really pleased with these results, particularly the last quarter, which delivered new records for every Red Engine-owned site.
“This performance is a direct result of our strong partnerships and the dedication of our entire team, who have worked tirelessly to deliver exceptional experiences to our customers.
“It also highlights the resilience and strength of our brands, which continue to resonate with diverse audiences globally, and for that we are extremely proud.”
Red Engine aims to open three to four owner-operated venues each year and its partners have a goal of opening at least four to five Flight Club venues per year.
Based on these numbers, over the next five years, the hospitality group and its partners will aim to open an additional 45 venues, taking the total global estate to 84 by the end of 2030.
June opening at Kings Cross
On the upcoming double opening, Red Engine said Electric Shuffle Chicago is scheduled to open its doors in the River North neighbourhood in May, while Electric Shuffle Kings Cross, located near to Coal Drops Yard will open on 6 June.
These new venues follow openings for the cocktail and shuffleboard bar in Manchester and New York last year. The Chicago and Kings Cross locations will be the eighth and ninth venues for the brand respectively. Kings Cross will be London’s third Electric Shuffle and fifth in the UK.
The Kings Cross site will offer two bars, an outdoor terrace and space for 400 guests. The area’s music history will be referenced throughout the bar, including artwork inspired by artists who played at the iconic Bagley’s Club and The Cross.
With its franchise partners, Red Engine is aiming to increase its portfolio of venues to 39 in 2025 with six new Flight Club locations and two new Electric Shuffle venues.
Moore added: “Expanding our footprint is about more than just opening new doors, it’s about considered, strategic growth and ensuring that every new market is the right fit for that community and our brands.”
