Wall Street goes bowling for profits, driving up the price of a middle-class pastime

Fueled by private equity investments, Lucky Strike Entertainment went on a buying spree and now owns more than 1 in 10 American bowling alleys.

This article is part of “Unaffordable America,” a series examining rising economic inequality in the U.S. and the policies that drive it.

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WICHITA, Kan. — The first sign of trouble Kevin Hess noticed after a private equity-backed corporation took over his local bowling alley was a spike in the price of Jell-O shots from $1 to $2.75 — a hit to his league’s tradition of buying a round if the center pin was left standing.

Just a moment.