Quoted from fosaisu:
There's a common misconception that it's an anti-trust violation for a manufacturer to set a minimum resale price for its products (understandable mistake since once upon a time this was considered a form of illegal price fixing, but the law changed decades ago). In fact, it's totally legal in the US for a company to set both a minimum advertised price and a minimum resale price. And if the manufacturer catches a distributor (a.k.a a retailer) selling below the minimum resale price, they can legally punish them in various ways, including refusing to sell them product to resell in the future.
Video game consoles and iPhones are good examples -- they're pretty much always the same price everywhere, and when they go on sale they go on sale everywhere for the same sale price. And that's because those manufacturers keep very tight control over pricing of their product. Evidently Stern decided a few years back it was in their best interest to do the same, and that's been the way of the world ever since.
Stores get around this by giving away free stuff with your purchase. Like say spend $6500 (full retail) on a pinball machine and get a $1000 gift card towards your next purchase. You see this all the time with the items you mentioned. Buy a new switch for 299 and get a 60 dollar game free. Buy this phone and get wireless headphones free. Yes they had to abide by MSRP but get around it with the freebies. My pinball machine I got a small discount for cash purchase. I believe there was a small discount for veteren. And I still got them to throw in a free printed manual (although its been almost 9 months and havnt recieved it. Maybe its time for a call)