Dave & Buster’s Entertainment, Inc. Announces Additional Share Repurchase Authorization of $100 Million

Rhea-AI Summary

Dave & Buster's Entertainment (NASDAQ:PLAY) has announced an expansion of its share repurchase program. The company's Board of Directors has authorized an additional $100 million for stock buybacks under the existing repurchase program, as approved on December 16, 2024. The entertainment and dining venue operator will maintain all other terms of the current share repurchase program unchanged.

Positive

• $100 million additional share buyback authorization shows strong financial position
• Share repurchase program indicates management's confidence in company value
• Buyback likely to support stock price and increase earnings per share

Negative

• Capital allocation to buybacks reduces funds available for business operations or growth initiatives

News Market Reaction

+1.75%

1 alert

+1.75% News Effect

On the day this news was published, PLAY gained 1.75%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

DALLAS, Dec. 17, 2024 (GLOBE NEWSWIRE) -- Dave & Buster's Entertainment, Inc., (NASDAQ:PLAY), ("Dave & Buster's" or "the Company"), an owner and operator of entertainment and dining venues, today announced an increase to the Company’s share repurchase authorization.

On December 16, 2024, the Company’s Board of Directors authorized the repurchase of an additional $100 million of the Company’s stock under the existing repurchase program. All other terms of the share repurchase program remain in effect.

About Dave & Buster’s Entertainment, Inc.

Founded in 1982 and headquartered in Coppell, Texas, Dave & Buster's Entertainment, Inc., is the owner and operator of 228 venues in North America that offer premier entertainment and dining experiences to guests through two distinct brands: Dave & Buster’s and Main Event. The Company has 168 Dave & Buster’s branded stores in 43 states, Puerto Rico, and Canada and offers guests the opportunity to "Eat Drink Play and Watch," all in one location. Each store offers a full menu of entrées and appetizers, a complete selection of alcoholic and non-alcoholic beverages, and an extensive assortment of entertainment attractions centered around playing games and watching live sports and other televised events. The Company also operates 60 Main Event branded stores in 21 states across the country, and offers state-of-the-art bowling, laser tag, hundreds of arcade games and virtual reality, making it the perfect place for families to connect and make memories. For more information about each brand, visit daveandbusters.com and mainevent.com.

For Investor Relations Inquiries:

Cory Hatton, VP Investor Relations & Treasurer
Dave & Buster’s Entertainment, Inc.
Cory.Hatton@daveandbusters.com

FAQ

How much is Dave & Buster's (PLAY) new share buyback authorization worth?

Dave & Buster's announced an additional $100 million share buyback authorization on December 16, 2024.

When did Dave & Buster's (PLAY) announce its latest share repurchase authorization?

The company announced the additional $100 million share repurchase authorization on December 17, 2024.

What impact will the PLAY stock buyback have on shareholders?

The buyback program is likely to support the stock price and increase earnings per share by reducing the number of outstanding shares.

Will the terms of Dave & Buster's (PLAY) existing share repurchase program change?

No, all other terms of the existing share repurchase program will remain in effect.