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RICHMOND, Va. - Lucky Strike Entertainment (NYSE:LUCK), a $1.35 billion market cap entertainment company, appointed Richard Born and Jason Harinstein to its Board of Directors effective Monday, according to a company press release. According to InvestingPro data, the company faces some financial challenges, with several key metrics suggesting room for improvement.
Born, co-founder of BD Hotels with over 35 years in the hospitality industry, will serve on the Nominating and Corporate Governance Committee. His portfolio includes interests in more than 25 hotels and 20 additional real estate holdings, including properties such as the Hotel Chelsea and the Bowery Hotel.
Harinstein, currently Chief Financial Officer of Collectors Holdings Inc., will join the Board’s Audit and Compensation Committees. His experience includes executive roles at Flatiron Health, Google, and Groupon. He also serves on the boards of Groupon and Funko.
"Richard and Jason are best-in-class leaders in their respective fields," said Thomas Shannon, Founder, Chairman, and CEO of Lucky Strike Entertainment.
Lucky Strike Entertainment operates over 360 location-based entertainment venues across North America, offering bowling, amusements, water parks, and family entertainment centers. The company also owns the Professional Bowlers Association.
The appointments come as the company continues to expand its footprint in the location-based entertainment sector. Both executives bring experience in areas including hospitality, real estate, finance, and technology to the board.
In other recent news, Lucky Strike Entertainment reported its Q1 2025 earnings, which missed both earnings per share (EPS) and revenue forecasts. The company posted an EPS of $0.21, below the anticipated $0.25, and revenue of $339.9 million, which did not meet the expected $358.29 million. This underperformance has raised concerns among investors. In response to these results, Roth/MKM downgraded Lucky Strike’s stock rating from Buy to Neutral, adjusting its price target to $9.00 from $13.00 due to ongoing challenges. Meanwhile, Truist Securities reiterated its Buy rating and maintained an $11.00 price target, citing improved consumer spending patterns. Stifel also lowered its price target for Lucky Strike to $12.00 from $13.00, while maintaining a Buy rating, highlighting challenges in the company’s events business. These developments reflect mixed sentiment among analysts regarding Lucky Strike’s financial outlook and strategic direction.
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