Apollo Global Management owns bowling. In May 2026, eleven bowlers sued to break it apart — the first real test of whether a private equity roll-up can be forced back open.
The Professional Bowlers Association is owned by Lucky Strike Entertainment Corporation — the company that used to be called Bowlero. Lucky Strike is controlled by Apollo, a private equity firm managing over a trillion dollars in casinos, defense contractors, home security, and live events.
This is the roll-up: buy a platform, then buy competitor after competitor, each deal small enough to slip under federal review, until one owner controls the market. Lucky Strike grew from six bowling centers in 2012 to nearly 350 — roughly 35% of all U.S. bowling revenue — acquiring AMF Bowling and Brunswick Corporation along the way. One Seattle customer was charged $284 for two hours. In some local markets the company allegedly controls up to 95% of lanes.
On May 6, 2026, eleven bowlers filed Doehr v. Lucky Strike Entertainment Corporation in federal court in Seattle, using the Sherman Act of 1890 and the Clayton Act of 1914 to ask a judge to unwind the roll-up and give back the PBA. If they win, it’s a template for every roll-up in America.