Sports Bars & Taverns
Casual dining bars focusing on sports viewing and beer service.
Market snapshot
These figures describe Bars, Pubs & Nightlife (2.4.1), the segment that Sports Bars & Taverns sits within — not Sports Bars & Taverns on its own.
- Market size
- ~$33.7B
- Growth
- ~7.1%CAGR (2017–22, nominal)
- Companies
- ~40,300
U.S. Census Bureau 2022 CBP/Economic Census, NAICS 722410 (Drinking Places); growth reflects recovery from pandemic closures.
Business model & economics
Revenue model
Alcoholic-beverage sales, with food and entertainment
Key economics
- Recurring revenue
- Low
- EBITDA margin
- High beverage margins; offset by occupancy and labor
- Capex intensity
- Moderate
transactional local demand
Characteristics
- Alcohol margins and atmosphere drive the economics.
- Experiential and craft-beverage trends support demand.
- Owner-operated and fragmented, with limited large-scale roll-ups.
Geographic concentration
Bars and nightlife venues over-index sharply in the Upper Midwest and Northern Plains — Wisconsin, North Dakota, Montana, and South Dakota — long the densest tavern markets per capita in the U.S.
U.S. Census Bureau — 2022 County Business Patterns (establishments by state), NAICS 722410. Concentration shown by location quotient.
M&A deal context
Who’s acquiring
- Entertainment-venue operators
- Multi-concept hospitality groups
- Local & regional operators
What’s driving deals
- Consolidation concentrated in entertainment-venue concepts.
- Experiential and craft-beverage demand.
- Largely owner-operated and fragmented.
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