Lucky Strike Entertainment Corp-A Stock Price, News & Analysis

Lucky Strike Entertainment Corporation (NYSE: LUCK) is a consumer cyclical company in the leisure industry that operates a large-scale, location-based entertainment platform. According to company disclosures and recent press releases, Lucky Strike Entertainment describes itself as one of the world’s premier owner/operators of location-based entertainment, with over 360 locations across North America. The company’s experiential offerings span bowling, amusements, water parks, and family entertainment centers (FECs), giving it a broad footprint in out-of-home entertainment.

Lucky Strike Entertainment’s venues include traditional bowling locations as well as more upscale entertainment concepts. As described in prior company information, these locations can feature lounge-style seating, arcades, enhanced food and beverage offerings, and customer service tailored to both individuals and group events. The company also hosts and oversees professional and non-professional bowling tournaments and related broadcasting, and it owns the Professional Bowlers Association (PBA), which it characterizes as the major league of bowling and a growing media property with millions of fans around the globe.

Business model and revenue mix

Company financial statements and earnings releases indicate that Lucky Strike Entertainment generates revenue from multiple categories tied to its entertainment venues. In its reported results, the company breaks out revenues from bowling, food & beverage, and amusement & other. This reflects a model where guests pay for lane time and bowling experiences, purchase food and drinks on-site, and spend on amusement and other attractions within the company’s locations.

Management also highlights non-GAAP measures such as Same Store Revenue and Adjusted EBITDA in its public communications. Same Store Revenue is defined by the company as total revenue less non-location related revenue, revenue from closed locations, service fee revenue (if applicable), and acquired revenue. Adjusted EBITDA is defined as net income (loss) before interest expense, income taxes, depreciation and amortization, impairment and other charges, share-based compensation, EBITDA from closed locations, foreign currency exchange loss (gain), asset disposition loss (gain), transactional and other advisory costs, changes in the value of earnouts, and other specified items. The company states that these metrics are used internally for planning, forecasting, and comparing operating performance across periods.

Scale, footprint, and growth strategy

Lucky Strike Entertainment reports that it operates over 360 locations across North America, and recent disclosures show continued expansion. In its fiscal 2025 and early fiscal 2026 communications, the company notes that total locations in operation reached the high 360s to around 370. Growth has come from both acquisitions and new builds, including family entertainment centers and water parks.

For example, the company announced the acquisition of two water parks—Raging Waters Los Angeles and Wet ‘n Wild Emerald Pointe—and three family entertainment centers: Castle Park in Riverside, California; Boomers Vista in California; and Boomers Palm Springs in California. These properties bring additional water park and amusement park capacity and, according to the company, attract over 1.5 million annual guests in aggregate. Lucky Strike Entertainment has also emphasized the expansion of its branded portfolio, noting the rapid growth of its Lucky Strike branded locations and a rebrand initiative that has increased the number of venues operating under that name.

In addition to acquisitions, Lucky Strike Entertainment has pursued real estate ownership as part of its long-term strategy. The company disclosed a transaction to acquire the real estate underlying 58 existing locations, describing this move as a way to reduce rent obligations, eliminate certain lease escalation risks, and increase financial and operational flexibility. This transaction was financed with a bridge facility, revolving credit availability, and cash on hand, and the company later refinanced this debt through a new term loan facility and senior secured notes.

Entertainment formats and guest experience

Across its portfolio, Lucky Strike Entertainment offers a mix of entertainment formats. Company descriptions and press releases highlight:

• Bowling centers – including traditional bowling locations and more upscale concepts with lounge seating and enhanced service.
• Amusement attractions – such as arcades and other amusement offerings captured in the “amusement & other” revenue category.
• Water parks – including large regional parks like Raging Waters Los Angeles and Wet ‘n Wild Emerald Pointe, which feature multiple attractions and serve as seasonal recreation destinations.
• Family entertainment centers – regional amusement and family entertainment centers such as Castle Park, Boomers Vista, and Boomers Palm Springs, which combine rides or attractions with games and family-oriented activities.

At the venue level, the company has highlighted specific examples of its approach to guest experience. For instance, the opening of Lucky Strike Aliso Viejo in California showcases features such as glow-in-the-dark bowling lanes, high-definition video screens, an expansive arcade, and elevated food and beverage offerings within a modern design. The company also references VIP service, seating areas designed for social gatherings, and suitability for events such as birthday parties, corporate events, and social celebrations.

Professional Bowlers Association and media

Lucky Strike Entertainment states that it owns the Professional Bowlers Association, which it describes as the major league of bowling and a media property with a global fan base. This ownership links the company’s location-based entertainment business with professional bowling, tournaments, and related media content. The company also notes that it hosts and oversees professional and non-professional bowling tournaments and related broadcasting, integrating competitive bowling into its broader entertainment platform.

Capital structure and financing activities

Regulatory filings and press releases show that Lucky Strike Entertainment has an active capital structure that includes bank debt, term loans, and senior secured notes. In 2025, the company announced and completed a refinancing that included:

• An offering of senior secured notes due 2032 issued by a wholly owned subsidiary, Kingpin Intermediate Holdings LLC.
• A new term loan facility with a multi-year maturity.
• A refinanced revolving credit facility with commitments in the hundreds of millions of dollars.

The company stated that the net proceeds from these financings were used to repay existing term loans and revolving credit facilities, including a bridge loan related to the acquisition of 58 previously leased properties, and to pay related fees and expenses. Remaining proceeds were earmarked for general corporate purposes. The company’s filings describe these facilities as secured by substantially all of the assets of the parent and certain subsidiaries, subject to specified exceptions, and include customary covenants and events of default.

Corporate governance and listing

Lucky Strike Entertainment Corporation is incorporated in Delaware and its Class A common stock trades on the New York Stock Exchange under the symbol LUCK, as disclosed in its Form 8-K filings. The company’s definitive proxy statement notes that it holds an annual meeting of stockholders and that its board of directors is elected by stockholders for terms that expire at the next annual meeting. The proxy materials describe standard corporate governance practices, including board committees such as the audit committee, compensation committee, and nominating and corporate governance committee, as well as policies related to director independence, risk oversight, and codes of conduct.

The company has also disclosed that it qualifies as an emerging growth company under applicable Exchange Act rules, which affects certain reporting and accounting standard transition provisions.

Dividends, capital returns, and non-GAAP metrics

Lucky Strike Entertainment has communicated a capital return program that includes cash dividends on its common stock and share repurchases. For example, the board of directors declared quarterly cash dividends per common share, and the company reported repurchasing millions of shares of Class A common stock under a share repurchase program with remaining authorization.

In its earnings releases, the company emphasizes non-GAAP metrics such as Same Store Revenue and Adjusted EBITDA. Management states that these measures are used to analyze and benchmark performance, compare results across periods, and evaluate the quality of earnings. The company cautions that these measures are not substitutes for GAAP metrics and may not be comparable to similarly titled measures used by other companies.

Position in the leisure and consumer cyclical sector

Within the consumer cyclical sector and leisure industry, Lucky Strike Entertainment positions itself as a large platform of location-based entertainment destinations. Its portfolio of bowling centers, water parks, amusement parks, and family entertainment centers, combined with ownership of the Professional Bowlers Association, provides multiple touchpoints with guests and fans. Company communications emphasize the scale of its North American footprint, its mix of entertainment formats, and its ongoing investments in acquisitions, real estate, and brand development.

Frequently asked questions (FAQ)

The following FAQs summarize key aspects of Lucky Strike Entertainment Corporation based on publicly available company information and regulatory filings.