good luck vs chance event

good luck and chance event both are nouns.

Word	Noun	Adjective	Verb	Adverb
good luck	Yes	No	No	No
chance event	Yes	No	No	No

As nouns, chance event is a hypernym of good luck; that is, chance event is a word with a broader meaning than good luck:

good luck: an unexpected piece of good luck
chance event: anything that happens suddenly or by chance without an apparent cause

Other hypernyms of good luck include accident, fortuity, stroke.

good luck (noun)	chance event (noun)
an unexpected piece of good luck	anything that happens suddenly or by chance without an apparent cause
a stroke of luck
an auspicious state resulting from favorable outcomes