Lucky Strike Entertainment(NYSE) LUCK

Lucky Strike lets people play bowling and visit water parks. It helps friends find fun and good food in one place. These venues serve guests seeking fun across North America.

Fun and Games for Everyone

• Bowling Entertainment: Traditional and upscale bowling lanes at locations like Bowlero and AMF; accounts for 46% of revenue.
• Food and Beverage: Full-service dining and lounge offerings served within entertainment venues; generates 37% of revenue.
• Amusement and Other: Arcade games and tournaments at family entertainment centers (FECs), which are venues with multiple activities; represents 17% of revenue.
• Water Parks: Seasonal outdoor attractions for families including Shipwreck Island and Big Kahuna's.

Expanding the Fun

• Bought 58 properties from Carlyle for $306 million in July 2025 to reduce annual rent obligations.
• Expanded the portfolio by acquiring Wet 'n Wild Emerald Pointe and Castle Park during the 2026 fiscal year.
• Opened a newly built Lucky Strike location in Southern California in late 2025.
• Signed a definitive agreement to acquire Raging Waters Los Angeles in early 2026.
• Converted 48 locations to the Lucky Strike brand by December 2025 to update the guest experience.

What Makes the Business Work

Lucky Strike manages a unified network of over 350 venues through a central system for marketing, finance, and human resources. This structure allows the company to run different brands like AMF and Bowlero with consistent service and lower costs.

A Look at the Numbers

• Revenue reached $306.9 million in Q2 2026, up 2.3% from the same period in 2025.
• Net income hit a loss of $12.7 million in Q2 2026, worsening from a $28.3 million profit a year earlier.
• Free cash flow hit $15.2 million in Q2 2026, turning positive from a $11.7 million loss in Q2 2025.
• Operating income hit $33.3 million in Q2 2026, down 29% from the previous year.

Bottom Line

Lucky Strike has evolved from a traditional bowling alley owner into a broader leisure and entertainment company. Its shift toward upscale brands and water park acquisitions helps it adapt to changing consumer tastes.