Red engine latest to post record revenues

Red Engine, the business behind concepts Flight Club and Electric Shuffle, is the latest operator to report a year of record turnover.

In its recent financial results, the experiential group revealed it generated £53.8m of revenue in 2022, with a gross profit of £32.9m at year end close versus 2021’s £14.7m. 

At the beginning of 2022, Flight Club Cheltenham opened, followed by Flight Club Cardiff in October and Electric Shuffle in Leeds and then a second Electric Shuffle USA in Austin, Texas. Red Engine says these new venues traded well for the festive period and the team reported double digit yearly growth for existing venues. 

"Our strong 2022 performance gave incredible confidence in our business model and brands," says CFO Ross Shepley-Smith. "That said, with the macro-economic picture looking uncertain going into 2023, we needed to balance our short-term growth plans with market sentiment, while staying true to our business goals. We have signed new leases, continued to innovate on the experiences we offer, investing in our teams and creating the right foundations for future success. We’re confident that 2023 and 2024 will be very exciting years for the business." 

Red Engine has seen strong trading across its existing venues in 2023, with new venues due to open in Scotland this autumn – Glasgow in October, followed by Edinburgh. The group has projected that group revenue is expected to exceed £68m in 2023. 

In the USA, Flight Club franchise partner State of Play Hospitality had a successful year of openings with Flight Club Houston and Las Vegas, Red Engine also made a minority stake investment in the business.  

Looking ahead to 2024, Red Engine has confirmed openings for Electric Shuffle in both New York and Manchester, with a number of additional sites yet to be announced.  

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