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Services-Amusement & Recreation Services: capital spending and supply chain

SIC 7900 · 10 companies with filed cash-flow statements

Capital spending, 12 months$2.0B
Operating cash flow$3.8B
Capex / cash flow52%
Capex / revenue4.0%
Top 3 share86%

Analysis

10 companies in Services-Amusement & Recreation Services (SIC 7900) spent $2.0B on capital projects over their latest twelve months, 52% of the $3.8B their operations generated; the three largest spenders — LYV, FUN, VENU — account for 86%.

Capital spending is 4.0% of the industry's $49.2B of annual revenue.

By the industry's asset mix most of it goes to equipment (32%); about $298M is imported.

The largest supplier of that spending is other nonresidential structures ($215M).

Its largest supplying industries, by the input-output tables: other real estate ($1.7B), employment services ($1.7B), management of companies and enterprises ($1.0B).

Charts

Services-Amusement & Recreation Services: capital spending by company, latest twelve monthsServices-Amusement & Recreation Services: capital spending by company, latest twelve monthsLYV$1.2BFUN$313MVENU$237MLUCK$109MWMG$103MACEL$67.8MRSVR$488KGLXZ$105KROLR$36KGAME$9K
Filed cash-flow statements (SEC XBRL).
Services-Amusement & Recreation Services: what the capital spending buys (US part)Services-Amusement & Recreation Services: what the capital spending buys (US part)Structures$375MEquipment$410MSoftware$384MOther$106M
Capital spending × the industry’s asset mix (BEA fixed assets): grade C, an industry average applied to filed figures.
Services-Amusement & Recreation Services: the industries that build and sell what it buysServices-Amusement & Recreation Services: the industries that build and sell what it buysOther nonresidential structures$215MSoftware publishers$207MOffice and commercial structures$117MLight truck and utility vehicle m…$116MComputer systems design services$85.6MCustom computer programming servi…$76.1MOther commercial and service indu…$47.6MAll other miscellaneous manufactu…$28.6MEducational and vocational struct…$25.6MConstruction machinery manufactur…$25.1M
BEA fixed assets: investment by asset type → supplying industry. Estimates (grade C).
Services-Amusement & Recreation Services: its first-tier supplying industriesServices-Amusement & Recreation Services: its first-tier supplying industriesOther real estate$1.7BEmployment services$1.7BManagement of companies and enter…$1.0BImports$528MWholesale electronic markets and …$477MPromoters of performing arts and …$450MData processing, hosting, and rel…$389MLegal services$363MManagement consulting services$330MAccounting, tax preparation, book…$329M
Purchased inputs × the industry’s input mix (BEA Use table), US part: grade C.
Services-Amusement & Recreation Services: where the industry's cash came from (+) and went (−)Services-Amusement & Recreation Services: where the industry's cash came from (+) and went (−)Operating cash flow$6.0BNet borrowing$3.3BCash added to the balance she…−$2.6BCapital spending−$2.0BBuybacks−$1.3BOther financing (out)−$1.3BOther investing (out)−$1.1BOther financing (in)$952MAcquisitions−$759MDividends−$671MPaid to partners−$293MOther investing (in)$284MNet debt repaid−$234MTaxes paid on employees' shar…−$205M
The companies’ cash-flow statements, latest four quarters or fiscal year: every figure filed (grade A).

Capital spending by company

CompanyCapital spendingOperating cash flowCapex / OCFPeriod
LYV Live Nation Entertainment$1.2B$2.0B56%TTM to Q3 2026
FUN Six Flags Entertainment$313M$461M68%TTM to Q3 2026
VENU Venu Holding$237M$9.7M2439%TTM to Q2 2026
LUCK Lucky Strike Entertainment$109M$127M86%TTM to Q1 FY27
WMG Warner Music Group$103M$939M11%TTM to Q3 FY26
ACEL Accel Entertainment$67.8M$173M39%TTM to Q3 2026
RSVR Reservoir Media$488K$46.4M1%TTM to Q2 FY27
GLXZ Galaxy Gaming$105K$7.5M1%TTM to Q2 2026
ROLR High Roller Technologies$36K−$4.7M—TTM to Q2 2026
GAME GameSquare Holdings$9K−$20.7M—TTM to Q2 2026

Customers and suppliers named in annual reports

SupplierCustomerShare of supplier revenueEvidenceSource
WMGAAPL20%Stated in 10-K (sentence)filing
WMGGOOGL12%Stated in 10-K (sentence)filing
VENUF94%Stated in 10-K (sentence)filing
BOTYMETA24%Stated in 10-K (sentence)filing
BOTYGOOGL18%Stated in 10-K (sentence)filing
NDAQNOMA—Stated in 10-K (named, share not stated)filing
ARWVENU—Stated in 10-K (named, share not stated)filing
RSVRUNVGY—Stated in 10-K (named, share not stated)filing
RSVRSONY—Stated in 10-K (named, share not stated)filing
RSVRWMG—Stated in 10-K (named, share not stated)filing

The interactive money flow: switch views, follow each dollar →

Evidence grades: A filed figure · B computed from filed figures · C industry average (BEA input-output and fixed-asset tables) applied to filed figures. Estimates are not the companies’ own records. Not investment advice.