Wednesday, November 05, 2025
Lucky Strike Entertainment is one of the world’s premier location-based entertainment platforms. With over 360 locations across North America, Lucky Strike Entertainment provides experiential offerings in bowling, amusements, water parks, and family entertainment centers. The company also owns the Professional Bowlers Association, the major league of bowling and a growing media property that boasts millions of fans around the globe. For more information on Lucky Strike Entertainment, please visit ir.luckystrikeent.com.
Michael Kupinski, Director of Research, Equity Research Analyst, Digital, Media & Technology , Noble Capital Markets, Inc.
Jacob Mutchler, Research Associate, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Solid Q1 results. The company reported revenue of $292.3 million, up 12.3% from the prior year period and 2.2% above our estimate of $286.0 million, as illustrated in Figure # 1 Q1 Results. Notably, the strong revenue growth was largely driven by new location openings and acquisitions of water parks and family entertainment centers (FEC). Same store sales were flat compared to the prior year. Adj. EBITDA of $72.7 million was in line with our estimate of $72.5 million, despite the higher revenue, primarily due to increases in location operating costs and payroll and benefit costs, in part from recent acquisitions.
Improved revenue outlook. While the events business declined 11% y-o-y, management noted that trends have begun to improve, with October marking the strongest month for events year-to-date. Additionally, the company’s retail and league revenue, remained resilient, posting modest growth of 1.4% and 2.1%, respectively. Furthermore, the company should benefit in Q4 from its recent water park and FEC acquisitions.
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*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.
