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Leases | 9 Months Ended
--- | ---
Mar. 29, 2026
Leases [Abstract] |
Leases | Leases The Company leases various assets under non-cancellable operating and finance leases. These assets include location-based entertainment venues, office space, vehicles, and equipment. Most of our leases contain payments for some or all of the following: base rent, contingent rent, common area maintenance, insurance, real-estate taxes, and other operating expenses. Rental payments are subject to escalation depending on future changes in designated indices or based on pre-determined amounts agreed upon at lease inception. On July 10, 2025, the Company acquired 58 existing properties that were previously under a master lease agreement with Carlyle for $306,000. Spanning 16 states, the 58 property portfolio includes prime locations in California, Illinois, Georgia, Arizona, and Colorado. The following table summarizes the components of the net lease cost for each reporting period:
|  |  |  | Three Months Ended |  | Nine Months Ended
Lease Costs: |  | Location on Condensed Consolidated Statements of Operations |  | March 29, 2026 |  | March 30, 2025 |  | March 29, 2026 |  | March 30, 2025
Operating Lease Costs: (1) |  |  |  |  |  |  |  |  |  |
Operating lease costs associated with master leases for locations |  | Primarily Location operating costs |  | $ | 3,678 |  |  | $ | 4,427 |  |  | $ | 11,126 |  |  | $ | 13,283 |
Operating lease costs associated with non-master leases for locations |  | Primarily Location operating costs |  | 16,140 |  |  | 15,970 |  |  | 49,124 |  |  | 46,266 |
Percentage rental costs for locations (2) |  | Primarily Location operating costs |  | 1,949 |  |  | 1,760 |  |  | 5,781 |  |  | 4,817 |
Equipment and other operating lease costs (3) |  | Primarily Location operating costs |  | 2,626 |  |  | 2,402 |  |  | 7,210 |  |  | 3,310 |
Total Operating Lease Costs: |  |  |  | 24,393 |  |  | 24,559 |  |  | 73,241 |  |  | 67,676 |
Finance Lease Costs: |  |  |  |  |  |  |  |  |  |
Amortization of right-of-use assets |  | Depreciation and amortization |  | 2,781 |  |  | 4,367 |  |  | 8,222 |  |  | 13,081 |
Interest expense |  | Interest expense, net |  | 7,621 |  |  | 12,427 |  |  | 22,969 |  |  | 37,214 |
Total Finance Lease Costs: |  |  |  | 10,402 |  |  | 16,794 |  |  | 31,191 |  |  | 50,295 |
Financing Obligation Costs: |  |  |  |  |  |  |  |  |  |
Interest expense |  | Interest expense, net |  | 10,400 |  |  | 10,210 |  |  | 31,057 |  |  | 30,488 |
Total Financing Obligation Costs: |  |  |  | 10,400 |  |  | 10,210 |  |  | 31,057 |  |  | 30,488 |
Other Costs, Net: |  |  |  |  |  |  |  |  |  |
Variable occupancy costs (4) |  | Primarily Location operating costs |  | 14,944 |  |  | 13,095 |  |  | 45,501 |  |  | 51,452 |
Loss (gain) from modifications to operating leases |  | Other operating expense (income), net |  | — |  |  | (144) |  |  | (1,441) |  |  | (144) |
Other lease costs (5) |  | Primarily Location operating costs |  | 104 |  |  | 213 |  |  | 754 |  |  | 482 |
Sublease income (6) |  | Revenues - Amusement & other |  | (1,194) |  |  | (1,163) |  |  | (3,617) |  |  | (3,563) |
Total Other Costs, Net |  |  |  | 13,854 |  |  | 12,001 |  |  | 41,197 |  |  | 48,227 |
Total Lease Costs, Net |  |  |  | $ | 59,049 |  |  | $ | 63,564 |  |  | $ | 176,686 |  |  | $ | 196,686 |
(1)Operating lease costs includes both cash and non-cash expenses for operating leases. The operating lease costs associated with our locations are recognized evenly over the lease term, therefore, the timing of the expense may differ from the timing of actual cash payments. Cash payments and lease costs can differ due to (a) the timing of cash payments relative to the level expense, (b) non-cash adjustments as a result of purchase accounting, and (c) various other non-cash adjustments to lease costs. Please see the table below for cash paid for amounts included within our lease liabilities. (2)Percentage rental costs for our locations primarily represents leases where we pay an extra rental amount based on a percentage of revenue in excess of predetermined revenue thresholds. (3)Equipment and other operating lease costs primarily represents operating leases costs for equipment leases, common area maintenance charges, rent relief from the impacts of COVID-19, and other variable lease costs for operating leases where the lease payments escalate based on an index or rate. (4)Variable occupancy costs primarily represents utilities, property insurance, and real estate taxes. (5)Other lease costs primarily includes short-term lease costs and other variable payments for various equipment leases. (6)Sublease income primarily represents short-term leases with pro-shops and various retail tenants. Cash paid for amounts included in the measurement of lease liabilities for each reporting period:
|  | Nine Months Ended
|  | March 29, 2026 |  | March 30, 2025
Cash paid for amounts included in the measurement of lease liabilities (1) |  |  |  |
Operating leases: |  |  |  |
Operating cash flows paid for operating leases |  | $ | 55,962 |  |  | $ | 48,230 |
Total cash paid for operating lease liabilities |  | 55,962 |  |  | 48,230 |
Finance leases: |  |  |  |
Operating cash flows paid for interest portion of finance leases |  | 20,472 |  |  | 35,190 |
Financing cash flows paid for principal portion of finance leases |  | 1,503 |  |  | 2,236 |
Total cash paid for finance lease liabilities |  | 21,975 |  |  | 37,426 |
Financing Obligations: |  |  |  |
Operating cash flows paid for interest portion of financing obligations |  | 24,682 |  |  | 24,264 |
Total cash paid for financing obligations: |  | 24,682 |  |  | 24,264 |
Total cash amounts paid that are included in the measurement of lease liabilities: (2) | $ | 102,619 |  |  | $ | 109,920 |
(1)This table includes cash paid for amounts included in the measurement of our lease liabilities. Since the lease liability only includes amounts that are contractually fixed, this table excludes cash paid for amounts that are variable in nature, such as utilities, common area maintenance, property insurance, real estate taxes, and percentage rent. (2)For the period ended March 30, 2025, total cash amounts within the above table include deferred repayments of $2,013 for operating leases and $4,341 for finance leases. As of March 29, 2026, there were no deferred payments remaining. Supplemental balance sheet information related to leases was as follows:
|  | Condensed Consolidated Balance Sheets Location |  | March 29, 2026 |  | June 29, 2025
Operating leases: |  |  |  |  |  |
ROU Assets, net |  | Operating lease ROU assets, net |  | $ | 553,294 |  |  | $ | 588,594 |
Lease liabilities, Short-term |  | Operating lease liabilities, ST |  | 35,391 |  |  | 33,103 |
Lease liabilities, Long-term |  | Operating lease liabilities, LT |  | 570,152 |  |  | 606,692 |
Finance leases: |  |  |  |  |  |
ROU Assets, net |  | Finance lease ROU assets, net |  | 302,322 |  |  | 507,701 |
Lease liabilities, Short-term |  | Other current liabilities |  | 1,649 |  |  | 780 |
Lease liabilities, Long-term |  | Finance lease liabilities, LT |  | 427,992 |  |  | 683,161 |
Financing Obligations: |  |  |  |  |  |
Financing obligation, long-term |  | Long-term financing obligations |  | 455,590 |  |  | 449,215 |
Lease incentive receivables from landlords of $1,580 and $3,975 as of March 29, 2026 and June 29, 2025, respectively, are reflected as a reduction of the operating and finance lease liability. Other supplemental cash flow information related to leases was as follows for each reporting period:
|  | Nine Months Ended
|  | March 29, 2026 |  | March 30, 2025
Supplemental Cash flow Information: |  |  |  |
Operating Cash Flows from landlord contributions |  | $ | 1,817 |  |  | $ | 8,389 |
Financing Cash Flows from landlord contributions |  | 1,481 |  |  | 417 |
Purchases of operating lease assets |  | 31,186 |  |  | — |
Purchases of operating lease liabilities |  | 33,393 |  |  | — |
Purchases of finance lease assets |  | 206,064 |  |  | — |
Purchases of finance lease liabilities |  | 267,715 |  |  | — |
For the purchase of previously leased property, the Company treated the net difference between operating lease assets and liabilities as a reduction of operating cash flows on the purchase date. Similarly, the Company treated the net difference between finance lease assets and liabilities as a reduction of financing cash flows on the purchase date. The remainder of the purchase price is being allocated to investing cash outflows.
Leases | Leases The Company leases various assets under non-cancellable operating and finance leases. These assets include location-based entertainment venues, office space, vehicles, and equipment. Most of our leases contain payments for some or all of the following: base rent, contingent rent, common area maintenance, insurance, real-estate taxes, and other operating expenses. Rental payments are subject to escalation depending on future changes in designated indices or based on pre-determined amounts agreed upon at lease inception. On July 10, 2025, the Company acquired 58 existing properties that were previously under a master lease agreement with Carlyle for $306,000. Spanning 16 states, the 58 property portfolio includes prime locations in California, Illinois, Georgia, Arizona, and Colorado. The following table summarizes the components of the net lease cost for each reporting period:
|  |  |  | Three Months Ended |  | Nine Months Ended
Lease Costs: |  | Location on Condensed Consolidated Statements of Operations |  | March 29, 2026 |  | March 30, 2025 |  | March 29, 2026 |  | March 30, 2025
Operating Lease Costs: (1) |  |  |  |  |  |  |  |  |  |
Operating lease costs associated with master leases for locations |  | Primarily Location operating costs |  | $ | 3,678 |  |  | $ | 4,427 |  |  | $ | 11,126 |  |  | $ | 13,283 |
Operating lease costs associated with non-master leases for locations |  | Primarily Location operating costs |  | 16,140 |  |  | 15,970 |  |  | 49,124 |  |  | 46,266 |
Percentage rental costs for locations (2) |  | Primarily Location operating costs |  | 1,949 |  |  | 1,760 |  |  | 5,781 |  |  | 4,817 |
Equipment and other operating lease costs (3) |  | Primarily Location operating costs |  | 2,626 |  |  | 2,402 |  |  | 7,210 |  |  | 3,310 |
Total Operating Lease Costs: |  |  |  | 24,393 |  |  | 24,559 |  |  | 73,241 |  |  | 67,676 |
Finance Lease Costs: |  |  |  |  |  |  |  |  |  |
Amortization of right-of-use assets |  | Depreciation and amortization |  | 2,781 |  |  | 4,367 |  |  | 8,222 |  |  | 13,081 |
Interest expense |  | Interest expense, net |  | 7,621 |  |  | 12,427 |  |  | 22,969 |  |  | 37,214 |
Total Finance Lease Costs: |  |  |  | 10,402 |  |  | 16,794 |  |  | 31,191 |  |  | 50,295 |
Financing Obligation Costs: |  |  |  |  |  |  |  |  |  |
Interest expense |  | Interest expense, net |  | 10,400 |  |  | 10,210 |  |  | 31,057 |  |  | 30,488 |
Total Financing Obligation Costs: |  |  |  | 10,400 |  |  | 10,210 |  |  | 31,057 |  |  | 30,488 |
Other Costs, Net: |  |  |  |  |  |  |  |  |  |
Variable occupancy costs (4) |  | Primarily Location operating costs |  | 14,944 |  |  | 13,095 |  |  | 45,501 |  |  | 51,452 |
Loss (gain) from modifications to operating leases |  | Other operating expense (income), net |  | — |  |  | (144) |  |  | (1,441) |  |  | (144) |
Other lease costs (5) |  | Primarily Location operating costs |  | 104 |  |  | 213 |  |  | 754 |  |  | 482 |
Sublease income (6) |  | Revenues - Amusement & other |  | (1,194) |  |  | (1,163) |  |  | (3,617) |  |  | (3,563) |
Total Other Costs, Net |  |  |  | 13,854 |  |  | 12,001 |  |  | 41,197 |  |  | 48,227 |
Total Lease Costs, Net |  |  |  | $ | 59,049 |  |  | $ | 63,564 |  |  | $ | 176,686 |  |  | $ | 196,686 |
(1)Operating lease costs includes both cash and non-cash expenses for operating leases. The operating lease costs associated with our locations are recognized evenly over the lease term, therefore, the timing of the expense may differ from the timing of actual cash payments. Cash payments and lease costs can differ due to (a) the timing of cash payments relative to the level expense, (b) non-cash adjustments as a result of purchase accounting, and (c) various other non-cash adjustments to lease costs. Please see the table below for cash paid for amounts included within our lease liabilities. (2)Percentage rental costs for our locations primarily represents leases where we pay an extra rental amount based on a percentage of revenue in excess of predetermined revenue thresholds. (3)Equipment and other operating lease costs primarily represents operating leases costs for equipment leases, common area maintenance charges, rent relief from the impacts of COVID-19, and other variable lease costs for operating leases where the lease payments escalate based on an index or rate. (4)Variable occupancy costs primarily represents utilities, property insurance, and real estate taxes. (5)Other lease costs primarily includes short-term lease costs and other variable payments for various equipment leases. (6)Sublease income primarily represents short-term leases with pro-shops and various retail tenants. Cash paid for amounts included in the measurement of lease liabilities for each reporting period:
|  | Nine Months Ended
|  | March 29, 2026 |  | March 30, 2025
Cash paid for amounts included in the measurement of lease liabilities (1) |  |  |  |
Operating leases: |  |  |  |
Operating cash flows paid for operating leases |  | $ | 55,962 |  |  | $ | 48,230 |
Total cash paid for operating lease liabilities |  | 55,962 |  |  | 48,230 |
Finance leases: |  |  |  |
Operating cash flows paid for interest portion of finance leases |  | 20,472 |  |  | 35,190 |
Financing cash flows paid for principal portion of finance leases |  | 1,503 |  |  | 2,236 |
Total cash paid for finance lease liabilities |  | 21,975 |  |  | 37,426 |
Financing Obligations: |  |  |  |
Operating cash flows paid for interest portion of financing obligations |  | 24,682 |  |  | 24,264 |
Total cash paid for financing obligations: |  | 24,682 |  |  | 24,264 |
Total cash amounts paid that are included in the measurement of lease liabilities: (2) | $ | 102,619 |  |  | $ | 109,920 |
(1)This table includes cash paid for amounts included in the measurement of our lease liabilities. Since the lease liability only includes amounts that are contractually fixed, this table excludes cash paid for amounts that are variable in nature, such as utilities, common area maintenance, property insurance, real estate taxes, and percentage rent. (2)For the period ended March 30, 2025, total cash amounts within the above table include deferred repayments of $2,013 for operating leases and $4,341 for finance leases. As of March 29, 2026, there were no deferred payments remaining. Supplemental balance sheet information related to leases was as follows:
|  | Condensed Consolidated Balance Sheets Location |  | March 29, 2026 |  | June 29, 2025
Operating leases: |  |  |  |  |  |
ROU Assets, net |  | Operating lease ROU assets, net |  | $ | 553,294 |  |  | $ | 588,594 |
Lease liabilities, Short-term |  | Operating lease liabilities, ST |  | 35,391 |  |  | 33,103 |
Lease liabilities, Long-term |  | Operating lease liabilities, LT |  | 570,152 |  |  | 606,692 |
Finance leases: |  |  |  |  |  |
ROU Assets, net |  | Finance lease ROU assets, net |  | 302,322 |  |  | 507,701 |
Lease liabilities, Short-term |  | Other current liabilities |  | 1,649 |  |  | 780 |
Lease liabilities, Long-term |  | Finance lease liabilities, LT |  | 427,992 |  |  | 683,161 |
Financing Obligations: |  |  |  |  |  |
Financing obligation, long-term |  | Long-term financing obligations |  | 455,590 |  |  | 449,215 |
Lease incentive receivables from landlords of $1,580 and $3,975 as of March 29, 2026 and June 29, 2025, respectively, are reflected as a reduction of the operating and finance lease liability. Other supplemental cash flow information related to leases was as follows for each reporting period:
|  | Nine Months Ended
|  | March 29, 2026 |  | March 30, 2025
Supplemental Cash flow Information: |  |  |  |
Operating Cash Flows from landlord contributions |  | $ | 1,817 |  |  | $ | 8,389 |
Financing Cash Flows from landlord contributions |  | 1,481 |  |  | 417 |
Purchases of operating lease assets |  | 31,186 |  |  | — |
Purchases of operating lease liabilities |  | 33,393 |  |  | — |
Purchases of finance lease assets |  | 206,064 |  |  | — |
Purchases of finance lease liabilities |  | 267,715 |  |  | — |
For the purchase of previously leased property, the Company treated the net difference between operating lease assets and liabilities as a reduction of operating cash flows on the purchase date. Similarly, the Company treated the net difference between finance lease assets and liabilities as a reduction of financing cash flows on the purchase date. The remainder of the purchase price is being allocated to investing cash outflows.

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- Definition The entire disclosure for finance leases of lessee. Includes, but is not limited to, description of lessee's finance lease and maturity analysis of finance lease liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/842-20/tableOfContent + Details
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