Ft. Lauderdale, FL - September 12, 2023 - PrimeTime Amusements has joined forces with Family Entertainment Group, effectively becoming the preeminent arcade operator in the country. The monumental deal has

been in the works for the majority of Q3 2023 and has culminated in the merger of two major players in the arcade operating subsector of the entertainment industry. Backed by HIG Capital, who made the initial growth investment into F.E.G. in 2022, the investment marks the private equity firm’s latest foray into the industry, and is poised to expand the scope of the now-merged entities. The Florida market, long being known as a stronghold for PrimeTime Amusements, will serve as a catapult for F.E.G. to broaden its various business units and integrate some of PrimeTime’s foremost accounts into its portfolio. F.E.G. also brings a long history of impeccable operational history and sought-after accounts across the country, further denoting the grandeur of the deal.

Initiated at the behest of George Smith, F.E.G. Founder and CEO, the long-time industry veteran approached David Goldfarb, PrimeTime Amusements Founder and CEO, at the IAAPA 2022 show with a vision that enticed Goldfarb and foretold massive collaborations between the two. Smith had been familiar with Goldfarb and his operation for years, as the two participated in smaller-scale deals in the past. To Goldfarb, the deal made sense from the beginning: “F.E.G. is well-renowned in our industry and George is held in great esteem for his track-record. 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”. The deal does not signify an exit, as Goldfarb will remain actively involved and work closely with Smith to capture new accounts, as well as further increase the quality of service to pre-existing accounts.