Independent Analysis Implies ~$161.6M Enterprise Value for Airtopia Adventure Parks at Full 2028 Build-Out Ready to Announce with Confidence?
McAlester, Oklahoma--(Newsfile Corp. - July 30, 2026) - A newly published valuation analysis of Airtopia Adventure Parks, the family entertainment center (FEC) vertical of Lelantos Holdings, Inc. (OTCID: LNTO), models an implied enterprise value of approximately $161.6 million at full 2028' build-out - a target contingent on the company executing a planned expansion from its current 5 locations to 16.
Current Operations
Airtopia today operates 5 indoor family entertainment centers - featuring trampolines, ropes courses, climbing walls, arcade and event space, food & beverage, and an adult "Sky Lounge" - generating approximately $11.96 million in annualized revenue at a stated 24% net margin, with no significant company debt.
The Expansion Plan
Per company-supplied proformas, management's plan calls for:
The Valuation
Applying a 6.0x EV/EBITDA multiple to the projected 2027 EBITDA of $26.93M implies an enterprise value of roughly $161.6 million. Because Airtopia carries no significant debt, implied equity value converges with enterprise value on a standalone basis. The 6.0x multiple sits in the lower-middle of the 4x-8x range typical for amusement and FEC operators and below the ~7.2x-10x multiples seen for larger, listed comparables such as Dave & Buster's (NASDAQ: PLAY).
Important Context
The analysis is explicit that the $161.6M figure describes a fully-built-out 2028 target, not the value of the business as it operates today. Roughly 80% of the projected 2028 revenue comes from locations not yet open, and the figures underlying the model are unaudited and company-supplied rather than independently verified. The report identifies execution risk, margin durability at scale, and undisclosed capital/funding requirements for the 10 planned new locations as the principal variables that could affect the outcome.
About Airtopia Adventure Parks
Airtopia Adventure Parks exists to provide exceptional all-ages family entertainment that exceeds expectations and enriches communities through clean, fast, friendly, affordable, safe, and fun experiences. Through its growing network of adventure parks, Airtopia combines active attractions, arcade entertainment, birthday parties, memberships, food and beverage, and hospitality-driven guest experiences to create destinations where families connect, celebrate, and create lasting memories.
About Lelantos Holdings, Inc.
Lelantos Holdings, Inc. (OTCID: LNTO) is a publicly traded holding company focused on acquiring, operating, and growing scalable businesses with strong operating fundamentals and long-term growth potential. Through its wholly owned subsidiary, Airtopia Adventure Parks, the Company operates a growing family entertainment platform across multiple states.
Disclaimer: This release summarizes an independent, analytical valuation exercise based on unaudited, company-supplied projections and general market data. It is not investment, legal, tax, or accounting advice, and not an offer or solicitation to buy or sell any security. Forward-looking figures are inherently uncertain and are not guaranteed. Independent due diligence and consultation with a qualified professional are recommended before making any investment decision.
Investor Relations Contact
Lelantos Holdings, Inc.
Joshua Weaver
josh@lelantos.group
www.lelantosholdings.io
OTCID: LNTO
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/307275
Source: Lelantos Holdings Inc.
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Independent Analysis Implies ~$161.6M Enterprise Value for Airtopia Adventure Parks at Full 2028 Build-Out
2026-07-30 8:02 AM EDT
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