Core Viewpoint - Lucky Strike Entertainment has announced a private offering of $500 million in senior secured notes with a 7.250% interest rate, maturing in 2032, through its subsidiary Kingpin Intermediate Holdings LLC [1] Company Summary - The offering consists of $500 million aggregate principal amount of senior secured notes [1] - The notes are set to mature in 2032 and carry an interest rate of 7.250% [1] - The offering is exempt from the registration requirements, indicating a private placement strategy [1]

Financial Performance - Total Revenue increased by 40% from $1154614 thousand in FY24 to $1201333 thousand in FY25[38] - Same Store Revenue decreased by 37% from $1029251 thousand in FY24 to $990678 thousand in FY25[38] - Adjusted EBITDA increased from $361497 thousand in FY24 to $367687 thousand in FY25, with margins of 313% and 306% respectively[43] - Net loss was reduced from $83581 thousand in FY24 to $10022 thousand in FY25[43] Acquisitions and Capital Deployment - The company deployed $700 million of capital into acquisitions over the past three years[23] - Acquired AMF for $310 million in 2013, leading to an estimated value creation of $13-$15 billion[22] - Acquired Brunswick for $260 million in 2014, reducing the purchase price to $60 million after a Sale Leaseback transaction[22, 23, 26] Operational Metrics - The company has 370 operating locations as of August 2025[25] - The company owns 75 properties with an estimated value between $600 million and $700 million[35] - The company sold 260000 Summer Season Passes in FY25[20]

Financial Performance & Metrics - Total Revenue increased by 9.1% from $1,058.8 million in FY23 to $1,154.6 million in FY24[52] - Revenue excluding Service Fee Revenue grew by 10.7% from $1,037.7 million in FY23 to $1,149.2 million in FY24[52] - Total Location Revenue increased by 11.5% from $1,012.4 million in FY23 to $1,128.6 million in FY24[52] - Same Store Revenue remained relatively flat, decreasing by 0.0% from $985.9 million in FY23 to $985.9 million in FY24[52] - Adjusted EBITDA increased from $354.3 million in FY23 to $361.5 million in FY24, with a margin of 31.3%[54] Strategic Acquisitions & Growth - The company acquired AMF in 2013 for $310 million, with Lucky Strike contributing $20 million in equity[16] - Brunswick locations were acquired in 2014 for $260 million, followed by a Sale-Leaseback transaction for $200 million, reducing the net purchase price to $60 million[19, 20] - Bowl America was acquired in 2021 for a net $19 million, followed by a Sale-Leaseback in 2023 for $63 million[23, 24] Operational Improvements & Expansion - Average Unit Volumes (AUV) have increased, driven by higher Average Revenue Per Customer[35] - The company had 367 operating locations as of May 2025, strategically positioned in attractive markets across North America[26] - The company is focused on acquiring locations with land at 4-7x EBITDAR and utilizing Sale-Leasebacks to fund acquisitions[32]