** Bowlero BOWL.N shares up 2.3% at $12.59 on Mon after co announced rebranding to reflect expansion beyond operating bowling alleys
** Richmond, Va., firm early Mon said effective Dec 12 it will change its legal name to Lucky Strike Entertainment Corporation and NYSE ticker symbol to "LUCK"
** "As Bowlero Corp. continues to expand into new entertainment verticals, we recognize the need for a brand that reflects the full scope of our offerings. This positions the company to embrace a more diverse range of experiences and firmly establishes our future, furthering our leadership in the entertainment landscape,” CEO Thomas Shannon said in statement
** In May, co said it closed acquisition of water park Raging Waves in Illinois, and last month reported buying Boomers Parks, a chain of indoor/outdoor family entertainment centers with locations in California and Florida
** Its fiscal Q1 rev grew ~14% yr/yr to $260 mln and co boosted low end of 2025 rev guidance by $10 mln to $1.23-$1.28 bln vs $1.15 bln generated last year
** Of 10 analysts covering Bowlero, 9 rate stock "strong buy" or "buy", the other rates "hold" with $17 median PT, according to LSEG data
** With move on the session, stock down 11% YTD. Shares this year have traded as high as $15.47 (Feb 12) their intraday low is $9.71 (May 6)
(Lance Tupper is a Reuters market analyst. The views expressed are his own)
((lance.tupper@tr.com 1-646-279-6380))
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