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How Bowlski's Turned a Historic Dallas Theater Into a Bowling Bar and Took a $100K Deal

Owner Craig Spivey explains how he revived the 1938 Lakewood Theater, how bowling and the bar split his revenue, and the $100K deal he accepted to upgrade the balcony.

Craig Spivey · Bowlski's

Published May 27, 2026
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What you’ll learn

Craig Spivey, owner of Bowlski's in the historic Lakewood Theater in Dallas, explains how he turned a theater closed since 2015 into a bowling alley, bar and pizza spot, and how COVID affected it. He says bowling brings in 40 to 45% of revenue and the bar about 30%. Nathan offers $100,000 repaid at 1.5x over three years, with an optional extra $50,000 tranche, and Craig accepts.

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Key moments

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Opening cost and a grant

“So we were under a million bucks. We were a live music venue, so we were able to get a really good, nice grant, which kept us open during COVID.”
Watch at 02:05

Bowling and bar revenue mix

“I'd say probably 40 to 45%. My bar overall, my bar is probably like 30%.”
Watch at 04:29

Experiments in the balcony

“I've tried everything up here. Yeah. So I had video game, party suite. I had a golf simulator.”
Watch at 07:33

The $100K offer terms

“I'll give you a $100,000 cash today. The company will pay it back over three years until I'm paid back 1.5 x my investment.”
Watch at 11:09

A second $50K tranche

“If you needed an extra 50 k, I could basically do another tranche at the same cost of capital if and when you need it.”
Watch at 11:25

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About the speaker

Craig Spivey

Owner · Bowlski's

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