Lucky Strike Entertainment Corporation

From the 1960s through the early 1980s, league bowling (a weekly group event where several teams bowl against each other over the course of a season) amounted to 75% to 80% of every bowling center's business in the United States. By 2012, that percentage had dropped to 21%. Lifestyle changes in the last few decades had made league bowling less attractive. Additionally, many bowling center owners had shifted their focus to casual bowlers, who bowled at non-discounted prices and spent more on food and beverage, and to special events, which produce substantial revenue and introduce new customers to the center.{{cite web |date=July 2012 |title=Bowling trends; the bad & good news |url=http://www.whitehutchinson.com/news/lenews/2012_july/article102.shtml#article |newspaper=White Hutchinson Leisure eNewsletter}}

When Bowlmor Lanes purchased its first center in 1997 to renovate and upscale it, league bowling was eliminated "to ease out regulars who did not cotton to the fancy trappings or the higher prices."{{cite web |title=Top Entrepreneurs 2008 |url=http://www.crainsnewyork.com/gallery/20080501/FEATURES/501009997/5 |accessdate=March 3, 2014 |newspaper=Crain’s New York Business}} That strategy proved so successful that league bowling was not offered at the five other centers the company added, and by 2012 Bowlmor was one of the highest grossing bowling facility operators in North America.

File:Bowlero_Corporation_Logo.png

Bowlmor AMF was formed in July 2013 when AMF Bowling Worldwide, which had filed for Chapter 11 bankruptcy in May 2012, reorganized and combined with Strike Holdings LLC, which operated the upscale Bowlmor Lanes. The new company was jointly owned by Bowlmor, certain of AMF Bowling's second lien lenders including an affiliate of Cerberus Capital Management, and Credit Suisse. At the time of the merger, the merged company operated 272 bowling centers and had 7,500 employees and a combined annual revenue of approximately $450 million.{{cite web|title=Bowlmor and AMF Bowling Worldwide Announce Completion of Merger|url=http://www.businesswire.com/news/home/20130701005676/en/Bowlmor-AMF-Bowling-Worldwide-Announce-Completion-Merger#.Uvqf53khGLs|newspaper=BusinessWire|date=July 1, 2013}}

In the AMF Bowling reorganization, AMF's second lien lenders converted their debt into equity in Bowlmor AMF. Credit Suisse provided a $230 million term loan facility and a $30 million revolving loan facility, and the largest holders of AMF's existing second lien debt provided $50 million of backstop financing to provide working capital for Bowlmor AMF and to pay cash distributions in varying amounts to AMF's other creditors. AMF's first lien lenders received payment in full, in cash, of principal, interest at the non-default rate, and their fees.{{cite web|title=Bowlmor Joins AMF’s Existing Second Lien Lenders, Including Cerberus and Credit Suisse to Sponsor New Chapter 11 Plan for AMF Bowling Worldwide|url=http://www.businesswire.com/news/home/20130517006034/en/Bowlmor-Joins-AMF’s-Existing-Lien-Lenders-Including#.UvqgQnkhGLs|newspaper=BusinessWire|date=March 18, 2013}}

Bowlmor CEO Tom Shannon became Chairman, Chief Executive Officer, and President of the combined company, and Bowlmor's Chief Financial Officer and former president, Brett Parker, became Vice Chairman, Chief Financial Officer, and Executive Vice President. Shannon and Parker collectively retained 22% of Bowlmor AMF and were set to receive bonuses based on their ability to increase the profitability and worth of Bowlmor AMF.

As part of the AMF Bowling reorganization, Bowlmor AMF assumed control of AMF Bowling's 50% interest in QubicaAMF Worldwide, one of the largest manufacturers of bowling products in the world.

When Bowlmor and AMF Bowling combined in 2013, league bowlers at AMF's existing 262 traditional bowling centers worried that the new owner would eliminate league bowling at their centers, too. Some cited a Bloomberg TV interview in which CEO Tom Shannon said, "I don’t think anyone takes bowling seriously – why would you?"{{cite web |date=October 27, 2011 |title=Interview with Bowlmor Lanes Founder and CEO Tom Shannon |url=https://www.youtube.com/watch?v=4ekEgTqQkMQ#t=166 |newspaper=Bloomberg Enterprise (TV)}} Concern grew when Bowlmor AMF significantly cut the operating hours at many centers as a financial measure, and in the process, displaced or eliminated some daytime bowling leagues.

Shannon was said to have responded that, "We plan to increase the league bowling business, not shrink it," citing AMF's "large customer base" in league activity for declaring that its league bowling was "very safe."{{Citation needed|reason=quotes are from articles on examiner.com but do seem reasonable based on observations|date=March 2014}} He said his company has "protected and defended 99% of (its) nighttime leagues"{{cite web |date=May 2014 |title=Building Blocks |url=http://issuu.com/sfrager/docs/ibi_may14_complete_book |newspaper=Bowling Industry Magazine}} and sees its acquisition of the Brunswick centers as "furthering (its) commitment to league play." A company spokeswoman further stated that the company also aims to "introduce a new generation to league bowling" and wants to support professional bowling, including possible sponsorships of the Professional Bowlers Association (PBA).{{cite web |last=Berr |first=Jonathan |date=July 29, 2014 |title=Why Brunswick is bowing out of the bowling biz |url=http://www.cbsnews.com/news/why-brunswick-is-leaving-the-bowling-business/ |website=CBS Moneywatch}} In October 2014 the PBA entered into an entitlement partnership agreement that made the company an official partner of the PBA.{{cite web |date=October 8, 2014 |title=PBA, Bowlmor AMF Sign Entitlement Partnership Agreement |url=http://www.bowlersjournal.com/?p=9008 |website=Bowlers Journal International}}

In July 2014, the company announced that it had agreed to acquire all 85 centers of Brunswick Bowling & Billiards in a transaction to be financed by the sale and leaseback of 58 of the centers to iStar Financial, as well as a term loan.{{cite web|title=Bowlmor AMF to Acquire Brunswick Corporation's Bowling Center Business|url=http://www.prnewswire.com/news-releases/bowlmor-amf-to-acquire-brunswick-corporations-bowling-center-business-267558621.html|newspaper=PR Newsire|date=July 17, 2014}}{{cite web|title=iStar Seeking $120M for Bowling Portfolio Acquisition|url=http://commercialobserver.com/2014/08/istar-seeking-120m-for-bowling-portfolio-acquisition/|website=Commercial Observer|date=August 1, 2014}} The acquisition was completed in September 2014.{{cite web|title=Bowlmor AMF Completes Acquisition of Brunswick Corporation's Bowling Center Business|url=http://www.marketwatch.com/story/bowlmor-amf-completes-acquisition-of-brunswick-corporations-bowling-center-business-2014-09-18?reflink=MW_news_stmp|newspaper=MarketWatch|date=September 18, 2014}}

Shannon was named Bowling Proprietor of the Year in 2014 by Bowlers Journal International Magazine in recognition of his "vision and bold initiatives" to "divide the AMF bowling empire into three distinct brands."{{cite news|title=Centers of Attention: Bowlmor AMF's Tom Shannon knows how to draw a crowd|newspaper=Bowlers Journal International|date=June 2014}}

In December 2014 the Qubica founders and partners purchased Bowlmor AMF's 50% interest in Qubica.{{cite web |date=December 1, 2014 |title=QubicaAMF Poised to Bring in a New Era of Bowling with Fully Invested Qubica Legacy Partners Owners |url=http://talktenpin.net/index.php?option=com_content&task=view&id=10341&Itemid=135 |url-status=dead |archive-url=https://web.archive.org/web/20181214064340/http://talktenpin.net/index.php?option=com_content&task=view&id=10341&Itemid=135 |archive-date=December 14, 2018 |access-date=January 19, 2015 |newspaper=TalkTenPin}}

Between 2013 and 2015, the company fired 287 managers from its 351 bowling centers. By April 2017, it was facing more than 50 discrimination complaints filed with the federal Equal Employment Opportunity Commission (EEOC), from employees who claimed to have been terminated for their age or appearance.{{cite web |last=Fonrouge |first=Gabrielle |date=April 20, 2017 |title=Inside the ugly road Bowlmor took to make bowling cool |url=https://nypost.com/2017/04/20/inside-the-ugly-road-bowlmor-took-to-make-bowling-cool/ |url-status=live |archive-url=http://web.archive.org/web/20240510045918/https://nypost.com/2017/04/20/inside-the-ugly-road-bowlmor-took-to-make-bowling-cool/ |archive-date=May 10, 2024 |access-date=June 1, 2024 |website=New York Post}}

In June 2017, private equity firm Atairos Group paid in excess of $1 billion to acquire Bowlmor AMF from its previous investors, with Shannon continuing to hold his "significant investment."{{cite web|title=Private Equity Firm Altairos Buys Bowlmor AMF for more than $1 billion|url=http://www.foxbusiness.com/features/2017/06/09/private-equity-firm-atairos-buys-bowlmor-amf-for-more-than-1-billion.html|website=Fox Business|date=June 9, 2017}}{{cite web|title=Altairos Strikes Cerberus Bowlmor Investment|url=https://www.thestreet.com/story/14167855/1/atairos-strikes-cereberus-bowlmor-investment.html|website=The Street|date=June 8, 2017}}

Bowlmor AMF changed its name to Bowlero Corporation on January 4, 2018.{{cite web|url= https://www.prnewswire.com/news-releases/bowlmor-amf-becomes-bowlero-corporation-300577544.html|title=Bowlmor AMF Becomes Bowlero Corporation|newspaper=PR Newsire|date=January 4, 2018|accessdate=November 20, 2019}}

On September 10, 2019, Bowlero Corporation announced it had purchased the Professional Bowlers Association (PBA). While retaining current PBA Commissioner Tom Clark, Bowlero also appointed its Chief Customer Office (CCO), Colie Edison, to the new role of CEO for the PBA. In an interview with Lucas Wiseman, senior editor for the PBA's FloBowling channel, Edison noted that Bowlero had been in talks with the PBA leadership for a number of years, before finally deciding the time was right for the acquisition.{{cite web|title=PBA Spare Shots: New PBA CEO Colie Edison Talks About PBA’s Future in Exclusive FloBowling Interview|url=https://www.pba.com/articles/PBA-Spare-Shots-New-PBA-CEO-Colie-Edison-Talks-About-PBAe28099s-Future-in-Exclusive-FloBowling-Interview|website=PBA.com|date=September 27, 2019|accessdate=

November 20, 2019}}

By January 2020, all remaining Brunswick locations were rebranded with either the Bowlero or AMF names.{{cite web|url= https://www.bowlero.com/find-your-brunswick-center|accessdate=May 17, 2020|title=New Name, Same Great Bowling}}

On October 9, 2020, Bowlero Corporation was featured on the American TV Series Undercover Boss, with Edison in the role of the disguised boss.{{Cite web|title=Bowlero Corp CCO Colie Edison to be Featured on CBS Hit Series "Undercover Boss," Friday, Oct. 9 {{!}} Bowlero Corporation|url=https://www.bowlerocorp.com/bowlero-cco-colie-edison-featured-on-undercover-boss|access-date=October 10, 2020|website=www.bowlerocorp.com}}

In April 2021, Bowlero partnered with sports betting company, BettorView, in order to display sports data and wagering at multiple locations.{{Cite web|date=April 1, 2021|title=Bowlero Corp and BettorView Announce Content Distribution Partnership|url=https://www.gamblingnews.com/news/bowlero-corp-and-bettorview-announce-content-distribution-partnership/|access-date=June 24, 2021|website=GamblingNews|language=en}}

As of June 23, 2021, Bowlero was in merger talks with Isos Acquisition Corporation, a special-purpose acquisition company (SPAC) led by former WWE executives, to go public through a merger.{{Cite web|date=June 23, 2021|title=Bowlero in Merger Talks With SPAC Led by Ex-WWE Executives|url=https://www.bloomberg.com/news/articles/2021-06-23/bowlero-said-in-merger-talks-with-spac-led-by-ex-wwe-executives|access-date=June 23, 2021|website=Bloomberg L.P.|language=en}}{{cite web|url=https://www.mg21.com/isos.html |title=Bowlero Corporation SPAC Merger|publisher=USStock|date=June 23, 2021}} On July 1, 2021, Isos Acquisition Corporation announced it had officially merged with Bowlero, with the intent to take Bowlero public and list it on the New York Stock Exchange.{{Cite web|title=Westport SPAC Isos Acquisition Corp. merges with Bowlero to take it public|url=https://westfaironline.com/137964/westport-spac-isos-acquisition-corp-merges-with-bowlero-to-take-it-public/|last=Hall|first=Phil|date=July 1, 2021|access-date=July 2, 2021|website=westfaironline.com L.P.|language=en}}

In May 2023, Bowlero announced they had bought all 14 locations of Lucky Strike Lanes, across 9 states.{{Cite web |date=May 31, 2023 |title=Bowlero Corp. to acquire Lucky Strike Entertainment LLC |url=https://www.bowlerocorp.com/bowlero-corp-to-acquire-lucky-strike |website=Press release}} The acquisition was completed on September 18, 2023.{{Cite web |date=September 18, 2023 |title=Bowlero Corp. Completes Acquisition Of Lucky Strike - Quick Facts |url=https://www.nasdaq.com/articles/bowlero-corp.-completes-acquisition-of-lucky-strike-quick-facts |website=Press release}}

From 2021 to 2023, the company’s annual revenue increased, from a few hundred million dollars, to more than one billion. By 2023, its revenues represented about one quarter of the industry’s total revenue.{{Cite web |date=May 30, 2024 |title=Meet The New Kingpin |url=https://www.levernews.com/meet-the-new-kingpin/ |access-date=June 2, 2024 |website=The Lever |language=en}}

In May 2023, CNBC reported that the EEOC was investigating numerous claims of age discrimination and retaliation, and was seeking $60 million to settle the claims.{{Cite web |last=Fonrouge |first=Gabrielle |date=May 11, 2023 |title=Bowlero, the public company that reimagined bowling, faces dozens of discrimination claims that the feds want to settle for $60 million |url=https://www.cnbc.com/2023/05/11/bowlero-bowl-faces-dozens-of-eeoc-discrimination-claims.html |access-date=June 2, 2024 |website=CNBC |language=en}} In May 2024, the EEOC concluded a nine-year investigation into Bowlero regarding age discrimination and retaliation complaints, with the EEOC, declining to sue the company but not clearing it of wrongdoing, thereby allowing more than 70 individual claimants to pursue private lawsuits against the company.{{Cite web |last=Fonrouge |first=Gabrielle |date=May 6, 2024 |title=Dozens of former employees plan to sue Bowlero alleging discrimination after EEOC closes case, lawyer says |url=https://www.cnbc.com/2024/05/06/dozens-of-former-employees-plan-to-sue-bowlero-for-discrimination.html |url-status=live |archive-url=http://web.archive.org/web/20240522001333/https://www.cnbc.com/2024/05/06/dozens-of-former-employees-plan-to-sue-bowlero-for-discrimination.html |archive-date=May 22, 2024 |access-date=June 1, 2024 |website=CNBC |language=en}}

In May 2024, Bowlero purchased the Raging Waves Waterpark in Yorkville, Illinois for $49 million.{{Cite web |title=Genesis Capital Advises Raging Waves on Sale to Bowlero Corporation (NYSE: BOWL) {{!}} Genesis Capital |url=https://genesis-capital.com/genesis-capital-advises-raging-waves-on-sale-to-bowlero-corporation-nyse-bowl/ |access-date=2024-11-23 |language=en-US}}

On December 2, 2024, Bowlero Corporation announced that it would rebrand as the Lucky Strike Entertainment Corporation effective December 12, 2024.{{Cite press release |title=Bowlero Rebrands As Lucky Strike Entertainment Corporation |date=December 2, 2024 |publisher=Bowlero Corporation |url=https://www.bowlerocorp.com/bowlero-rebrands-as-lucky-strike-entertainment |access-date=December 20, 2024 |location=Richmond, Virginia}}

File:Bowlero W44 St 2023 jeh.jpg

Lucky Strike Entertainment Corporation operates bowling centers under several banners:

• Bowlero centers are positioned as traditional bowling centers for open bowling, group events, and leagues, with a "hip, fun environment". Most Bowlero centers are converted AMF or Brunswick Zone centers, while a few are newly constructed or were previously operated under another name by other owners. The brand was introduced in 2014 as a renovation of the AMF Woodlands Lanes in The Woodlands, Texas, featuring "recreational games and inventive menu items set in an eclectic environment that's full of nostalgic throwbacks."{{cite web|title=Bowlmor AMF to open "nostalgic" bowling alley near The Woodlands|url=http://www.bizjournals.com/houston/morning_call/2014/05/bowlmor-amf-to-open-nostalgic-bowling-alley-in-the.html|newspaper=Houston Business Journal|date=May 2, 2014}}
• Bowlmor Lanes is positioned as a high-end banner designed solely for group events and open play, featuring lounge-styled settings and other food and entertainment options, including recreational games, private party facilities with catering services, sports bars, and full-service restaurants.{{cite web|title=Disclosure Statement for the Second Modified Joint Plan of Reorganization of AMF Bowling Worldwide, Inc., and its Debtor Affiliates Pursuant to Chapter 11 of the Bankruptcy Code (Document 818), Case No. 12-36495, United States Bankruptcy Court for the Eastern District of Virginia, Richmond Division|url=http://www.kccllc.net/documents/1236495/1236495130523000000000010.pdf|accessdate=February 14, 2014}}
• AMF centers are carried over from the company's purchase of AMF Bowling, and are positioned as traditional bowling centers where bowling leagues play a significant role. Many former AMF locations have been converted to the Bowlero banner, while some have been sold (generally for non-bowling use).
• Lucky Strike Lanes are high-end centers positioned towards high-end play, similar to Bowlmor.

Bowlero Corporation acquired from private owners in 2018 and 2019 a few centers which it continues to operate under their existing business names. Examples include Revel & Roll in Michigan, and The Garage in Washington state.

{{Reflist}}

• {{Official|https://www.bowlerocorp.com}}
• [http://www.bowlero.com/ Bowlero centers website]
• [https://www.amf.com/ AMF Bowling centers website]
• [http://www.bowlmor.com/ Bowlmor Lanes website]
• [https://www.luckystrikeent.com/ Lucky Strike website]

{{Finance links

| name = Bowlero Corp.

| symbol = BOWL

| reuters = BOWL.N

| bloomberg = BOWL:US

| sec_cik = 1840572

| yahoo = BOWL

| google = BOWL:NYSE

}}

Category:Ten-pin bowling

Category:Bowling alleys

Category:American companies established in 2013

Category:Companies listed on the New York Stock Exchange