FEG has announced that PrimeTime Amusements, founded by David Goldfarb in 1992, has joined the Family Entertainment Group portfolio of businesses. The partnership adds to FEG the operations of 20 arcades and entertainment centers across premier resort and hospitality locations in Central Florida.
“We are thrilled to welcome David and the talented members of PrimeTime Amusements into the FEG family,” said George Smith, founder and CEO of FEG. “This combination not only strengthens our position within Orlando but also demonstrates our unwavering commitment to elevating entertainment offerings for families and visitors. Together, we are poised to create unforgettable experiences that resonate with audiences of all ages.”
Added Goldfarb: “We are absolutely thrilled to join forces with George and the remarkable FEG team. This collaboration uniquely positions PrimeTime Amusements to provide unparalleled arcade experiences to its patrons across its multiple locations.”
The combined company will invest in nearly 100 pieces of new equipment for PrimeTime’s existing sites, including video games, redemption and virtual reality.
In their own press release, PrimeTime Amusements stated that the move effectively makes the combined companies “the preeminent arcade operator in the country.” They also noted the deal has been in the works most of Q3 2023 and has “culminated in the merger of two major players in the arcade operating subsector of the entertainment industry.”
The merger is backed by HIG Capital, which made an initial growth investment into FEG in 2022. This is the private equity firm’s latest foray into the industry.
Goldfarb, who will remain active in collaboration with Smith to capture new accounts, also shared, “When I saw that this deal had the backing of a multi-billion-dollar fund that was based in Miami no less, I saw that a merger would ultimately be a win-win for everyone.”
