Private equity investors are setting their sights on bowling, transforming a once-traditional pastime into a modern entertainment business through acquisitions, upgrades and industry consolidation.
Now, that strategy is under scrutiny.
In May, Lucky Strike Entertainment, formerly known as Bowlero, was hit with a proposed class-action lawsuit alleging the company used years of acquisitions to consolidate hundreds of bowling centers across the U.S., reducing competition, raising prices and contributing to declining lane quality, NPR reported.
The company denied the allegations.
However, the lawsuit has become a flashpoint in a broader debate over whether private equity roll-ups create stronger businesses or give investors too much control over fragmented industries.
