Welcome to our dedicated page for Dave & Buster's Entertainment news (Ticker: PLAY), a resource for investors and traders seeking the latest updates and insights on Dave & Buster's Entertainment stock.
Dave & Buster's Entertainment, Inc. (NASDAQ: PLAY) is a leading North American operator of entertainment and dining venues, providing a unique fusion of food, drinks, and games. Headquartered in Dallas, Texas, the company operates nearly a hundred establishments across the United States. Each venue offers a comprehensive menu featuring an array of delicious entrees and appetizers, alongside a full selection of alcoholic and non-alcoholic beverages. Patrons can enjoy over 250 of the latest and greatest games, making it the ultimate destination for fun and entertainment.
Specializing in creating memorable experiences, Dave & Buster's combines dining, gaming, and televised sports under one expansive roof. The venues are equipped with private rooms, full-service audio-visual capabilities, bars, and a world-class billiards table. The company also emphasizes teambuilding activities, making it an ideal spot for corporate gatherings and social events.
In recent developments, Dave & Buster's announced a successful amendment to its credit agreement, increasing the Term Loan B facility to $900 million with favorable pricing. This move highlights the company's robust financial standing and the positive momentum following its merger with Main Event. As per Chief Financial Officer Michael Quartieri, the swift execution and improved economics of the deal underscore the company's strong financial position.
Additionally, the company's Board of Directors has approved an increase to its share repurchase program, authorizing up to $200 million in common stock repurchases. This initiative reflects the company's commitment to enhancing shareholder value and maintaining financial flexibility.
Dave & Buster's continues to innovate and expand, solidifying its position as a premier destination for entertainment and dining. With continuous updates and developments, the company remains focused on delivering exceptional experiences to its customers.
Dave & Buster's announced its financial results for Q1 2024, revealing a 1.5% revenue decrease to $588.1 million compared to Q1 2023. Comparable store sales fell 5.6%, and net income dropped to $41.4 million from $70.1 million last year. Adjusted EBITDA decreased 12.6% to $159.1 million. The company repurchased $50 million worth of shares and executed a $45 million sale leaseback agreement. Key initiatives included opening four new stores and entering a partnership to develop five stores in the Philippines. Despite economic challenges, the company plans to reach $1 billion in Adjusted EBITDA in the coming years.
Hilton Grand Vacations (NYSE:HGV) announced the appointment of Gail Mandel to its board of directors, expanding the board to 10 members. Mandel, managing director of Focused Point Ventures, brings extensive hospitality, financial, and public company experience. She has previously served as president and CEO of Wyndham Destination Network, where she oversaw the $1.3 billion divestiture of Wyndham’s European Rentals business and completed over 12 acquisitions. Mandel is expected to leverage her expertise in timeshare, financial, and public company sectors to contribute to HGV's strategic direction. She also holds board positions at Sabre , Dave & Buster’s Entertainment, PureStar, and the Community Foundation of New Jersey.
Dave & Buster's Entertainment (NASDAQ: PLAY) announced it will release its first quarter 2024 financial results on June 12, 2024, after market close. The results will cover the period ending May 5, 2024.
Management will host a conference call the same day at 4:00 p.m. Central Time (5:00 p.m. Eastern Time) to discuss these results. Dial-in options are available for both domestic and international participants. A replay of the call will be available for one year starting at 6:00 p.m. Central Time (7:00 p.m. Eastern Time) the same day.
Both the live and archived webcast can be accessed via the Investor Relations section of Dave & Buster's website.
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