Family Entertainment Group (FEG) recently bought Hollywood Park Family Entertainment Center in Crestwood, Ill. This transaction is one of many acquisitions by FEG and the third in the last twelve months as Hollywood Park joins a host of other parks and entertainment centers owned by FEG.
Hollywood Park is a very successful family entertainment center located in Chicago’s south suburbs, explained FEG execs, and features a collection of Hollywood memorabilia, a family restaurant, large, multi-level game room, bumper cars, electric go-karts and two mini golf courses. The park was owned and operated by Chris Paliga and his family since the mid ’90s and when the opportunity came to sell the business he knew it would be in “good hands” with FEG.
“I might not have sold my property to anyone other than George Smith and FEG,” Paliga said. “I have a commitment to this business, the Hollywood Park leadership team and the community – and FEG has the resources to improve on the park.”
According to Ray Smith, FEG’s director of business development, “The acquisition of Hollywood Park aligns with our strategy of identifying and acquiring high-quality, well-operated locations and driving the business to the next level.” FEG will enhance the facility over the next year with a completely new games package, four lanes of mini bowling, restaurant seating expansion, addition of four new private party rooms, renovation of the façade and addition of outdoor entertainment elements.
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