What the changes say
- Lucky Strike Entertainment expanded disclosures regarding intellectual property infringement claims and regulatory compliance burdens in online commerce.
What changed since the prior 10-K
New
- NewRisks Related to Our Business and Industry
The adoption or modification of laws and regulations relating to our business could limit or otherwise adversely affect the manner in which we conduct our business
Stricter consumer protection laws and international regulatory frameworks for online commerce and content delivery could increase compliance costs and liabilities.
- NewRisks Related to the Location-Based Entertainment Industry
substantial expenses, divert the attention of management and adversely affect our revenue, financial condition and results of operations
Intellectual property infringement claims by third parties could result in costly litigation, damage awards, rebranding, or discontinued product use.
- NewRisks Related to the Location-Based Entertainment Industry
due to the limitation caused by the 2004 ownership change. The Company has concluded it has not experienced an ownership change, as defined under Section 382 and 383, since July 2017
Uncertainty regarding the utilization of net operating loss carryforwards and deferred tax assets following past ownership changes under Section 382 and 383.
- NewRisks Related to the Location-Based Entertainment Industry
for stockholders to take certain actions, including electing directors who are not nominated by the current members of our board of directors or taking other corporate actions, including effecting changes in our management
Preferred stock issuances and concentrated voting power held by Atairos and Mr. Shannon could delay or prevent changes in corporate control.
- NewRisks Related to the Location-Based Entertainment Industry
be entitled to designate three directors to our board of directors and (ii) less than 15% but at least 5%, Mr. Shannon will be entitled to designate one director to our board of directors
Atairos and Mr. Shannon hold special board nomination and approval rights over strategic transactions, joint ventures, and capital issuances exceeding 15% of enterprise value.
Dropped
- DroppedRisks Related to Our Business and Industry
Our failure to continue to build and maintain our brand of entertainment could adversely affect our operating results
- DroppedRisks Related to Information Technology and Cybersecurity
level of Payment Card Industry Data Security Standard (“PCI”) compliance at our corporate office and locations. If we do not maintain the required level of PCI compliance, we could be subject to costly fines or additional fees from the card brands that we accept or lose our ability to accept those payment cards
Reworded
- 96% rewrittenRisks Related to Our Business and Industry
Index to Financial Statements
Replaced text about home-based entertainment competition with disclosures concerning supplier contamination risks and negative publicity from operational problems.
- 83% rewrittenRisks Related to Our Business and Industry
Unfavorable publicity or a failure to respond effectively to adverse publicity, could harm our business
Updated brand references from Bowlero to Lucky Strike Entertainment and added other company brands.
- 80% rewrittenRisks Related to Our Business and Industry
We may not be able to compete favorably in the highly competitive out-of-home and home-based entertainment markets, which could have a material adverse effect on our business, results of operations or financial condition
Expanded out-of-home competition text to specify price, quality of service, location, ambience, and food quality.
- 78% rewrittenRisks Related to the Location-Based Entertainment Industry
Delaware law and our organization documents contain certain provisions, including anti-takeover provisions that limit the ability of stockholders to take certain actions and could delay or discourage takeover attempts that stockholders may consider favorable
Added an inadvertent index reference to financial statements within anti-takeover and stockholder action provisions.
- 70% rewrittenRisks Related to the Location-Based Entertainment Industry
Lucky Strike Entertainment’s founder and Chief Executive Officer and Atairos have certain board nomination rights that enable them to exercise substantial control over all corporate actions, which could limit your ability to influence the outcome of matters submitted to stockholders for a vote
Replaced references of Cobalt with Mr. Shannon regarding board nomination rights alongside Atairos.
Was: Bowlero’s founder and Chief Executive Officer and Atairos have certain board nomination rights that enable them to exercise substantial control over all corporate actions, which could limit your ability to influence the outcome of matters submitted to stockholders for a vote
- 66% rewrittenRisks Related to Information Technology and Cybersecurity
Cybersecurity breaches or other privacy or data security incidents that expose confidential customer, personal employee or other material, confidential information that is stored in our information systems or by third parties on our behalf may impact our business
Maintained existing cybersecurity and data privacy risk factors without substantive textual modifications.
- 40% rewrittenRisks Related to the Location-Based Entertainment Industry
Our revenues and operating results may fluctuate significantly due to various risks and unforeseen circumstances, including natural disasters, public health emergencies, acts of violence or terrorism, seasonality, weather, and other factors outside our control
Maintained existing natural disaster and seasonal disruption risk factors without substantive textual modifications.
- 38% rewrittenRisks Related to the Location-Based Entertainment Industry
Failure to adequately protect our intellectual property could harm our business
Maintained existing intellectual property protection risk factors without substantive textual modifications.
- 35% rewrittenRisks Related to the Location-Based Entertainment Industry
We may be subject to securities litigation, which is expensive and could divert management attention
- 32% rewrittenRisks Related to the Location-Based Entertainment Industry
Our ability to use net operating loss carryforwards and other tax attributes may be limited in connection with the Business Combination or other ownership changes
- 28% rewrittenRisks Related to the Location-Based Entertainment Industry
We may be subject to increased labor and insurance costs
- 25% rewrittenRisks Related to the Location-Based Entertainment Industry
In addition, pursuant to the Stockholders Agreement (as defined below), Mr. Shannon and Atairos have board designation rights and Atairos also has certain consent rights as described below
- 23% rewrittenRisks Related to Our Business and Industry
Covenants in our debt agreements restrict our business and could limit our ability to implement our business plan
All 38 risk factors
Headings as the filing states them, in filing order.
Risks Related to Our Business and Industry
- 01If we are unable to successfully design and execute our business strategy plan, including growing comparable location sales, our revenues and profitability may be adversely affected
- 02Changes in consumer buying patterns and economic slowdowns could negatively affect our results of operations
- 03We may not be able to compete favorably in the highly competitive out-of-home and home-based entertainment markets, which could have a material adverse effect on our business, results of operations or financial condition80% rewritten
- 04Unfavorable publicity or a failure to respond effectively to adverse publicity, could harm our business83% rewritten
- 05Index to Financial Statements96% rewritten
- 06We are subject to risks associated with leasing space subject to long-term, non-cancelable leases
- 07Our financial performance and the ability to implement successfully our strategic direction could be adversely affected if we fail to retain, or effectively respond, to a loss of key management
- 08We face risks related to our substantial indebtedness and limitations on future sources of liquidity
- 09Covenants in our debt agreements restrict our business and could limit our ability to implement our business plan23% rewritten
- 10The adoption or modification of laws and regulations relating to our business could limit or otherwise adversely affect the manner in which we conduct our businessNew
Risks Related to Information Technology and Cybersecurity
- 11Information technology system failures or interruptions may impact our ability to effectively operate our business
- 12Cybersecurity breaches or other privacy or data security incidents that expose confidential customer, personal employee or other material, confidential information that is stored in our information systems or by third parties on our behalf may impact our business66% rewritten
- 13Our reliance on computer systems and software could expose us to material financial and reputational harm if any of those computer systems or software were subject to any material disruption or corruption
Risks Related to the Location-Based Entertainment Industry
- 14Our success depends upon our ability to recruit and retain qualified location management and operating personnel while also controlling our labor costs
- 15We may be subject to increased labor and insurance costs28% rewritten
- 16Our revenues and operating results may fluctuate significantly due to various risks and unforeseen circumstances, including natural disasters, public health emergencies, acts of violence or terrorism, seasonality, weather, and other factors outside our control40% rewritten
- 17Our operations are susceptible to the changes in cost and availability of commodities and other products, which could negatively affect our operating results
- 18We may not be able to operate our locations or obtain/maintain licenses and permits necessary for such operation, in compliance with laws, regulations and other requirements, which could adversely affect our business, results of operations or financial condition
- 19We are subject to various federal, state, and local laws and regulations that govern numerous aspects of our business
- 20Litigation, including allegations of illegal, unfair or inconsistent employment practices, may adversely affect our business, results of operations or financial condition
- 21Failure to adequately protect our intellectual property could harm our business38% rewritten
- 22substantial expenses, divert the attention of management and adversely affect our revenue, financial condition and results of operationsNew
- 23Changes in tax laws and resulting regulations could result in changes to our tax provisions and subject us to additional tax liabilities that could materially adversely affect our financial performance
- 24Our ability to use net operating loss carryforwards and other tax attributes may be limited in connection with the Business Combination or other ownership changes32% rewritten
- 25due to the limitation caused by the 2004 ownership change. The Company has concluded it has not experienced an ownership change, as defined under Section 382 and 383, since July 2017New
- 26Our only significant assets are our ownership interests in our operating subsidiaries and such ownership may not be sufficient to pay dividends or make distributions or loans to enable us to pay any dividends on our common stock or satisfy our other financial obligations
- 27The price of our Class A common stock may be volatile
- 28We have discretion over payment of any cash dividends
- 29We may be subject to securities litigation, which is expensive and could divert management attention35% rewritten
- 30The obligations associated with being a public company involve significant expenses and require significant resources and management attention, which may be diverted from our business operations
- 31Delaware law and our organization documents contain certain provisions, including anti-takeover provisions that limit the ability of stockholders to take certain actions and could delay or discourage takeover attempts that stockholders may consider favorable78% rewritten
- 32for stockholders to take certain actions, including electing directors who are not nominated by the current members of our board of directors or taking other corporate actions, including effecting changes in our managementNew
- 33Our certificate of incorporation contains a provision renouncing our interest and expectancy in certain corporate opportunities
- 34We cannot predict the impact that our dual class structure may have on the stock price of our Class A common stock
- 35In addition, pursuant to the Stockholders Agreement (as defined below), Mr. Shannon and Atairos have board designation rights and Atairos also has certain consent rights as described below25% rewritten
- 36Lucky Strike Entertainment’s founder and Chief Executive Officer and Atairos have certain board nomination rights that enable them to exercise substantial control over all corporate actions, which could limit your ability to influence the outcome of matters submitted to stockholders for a vote70% rewritten
- 37be entitled to designate three directors to our board of directors and (ii) less than 15% but at least 5%, Mr. Shannon will be entitled to designate one director to our board of directorsNew
- 38We are a “controlled company” within the meaning of the rules of the New York Stock Exchange (“NYSE”). As a result, we qualify for exemptions from certain corporate governance requirements that would otherwise provide protection to stockholders of other companies
Other Lucky Strike Entertainment 10-Ks
- FY2026 10-K risk factors36 risks2 new4 dropped12 reworded
AI use in marketing, pricing, staffing and guest tools is newly identified as an operational, legal and competitive risk.
Filed Aug 27, 2026 - FY2024 10-K risk factors35 risks
This filing reflects Lucky Strike's debut risk assessment, dominated by consumer discretionary spending reliance, high debt leverage, and operational lease exposures.
Filed Sep 05, 2024
About this page
The headings are the filing's own. The one-line readings and the overview are automated and can be wrong: read Item 1A of the 10-K for the exact wording.