There is a guy in London with a different business model. He has 10 machines in a shed behind his house. For $300 a group of eight can rent the place for 3 hours.
He serves drinks and snacks and then gives a talk on the history of pinball before letting them loose.
Seems like there could be more to the Hall of Fame than a simple arcade. Get a board of directors, host award shows, have events and new product launch parties, rent out space for corporate events, sell food and drink.
Why pick a spot with the expensive real estate to provide cheap entertainment?