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.
LiveOne (Nasdaq: LVO) announced the appointment of Aaron Sullivan as Interim Chief Financial Officer, effective immediately. Sullivan steps in for Michael Quartieri, who is leaving to join Dave & Buster's Entertainment (Nasdaq: PLAY) on December 31, 2021. CEO Robert Ellin emphasized Sullivan's significant contributions to the company and expressed confidence in his ability to maintain financial continuity during the transition. LiveOne continues to focus on enhancing its finance function and leveraging its platform in music and entertainment.
Dave & Buster's Entertainment (NASDAQ:PLAY) reported its Q3 2021 results, showcasing revenue of $318.0 million, a 6.2% increase from Q3 2019, and a significant recovery from Q3 2020's revenue of $109.1 million. The company achieved net income of $10.6 million, or $0.21 per diluted share, in contrast to a net loss of $48.0 million a year prior. Adjusted EBITDA surged by 47.4% from Q3 2019 to $68.2 million. In addition, the Board authorized a $100 million share repurchase program, signaling confidence in future growth.
Dave & Buster's Entertainment (NASDAQ: PLAY) has appointed Antonio Bautista as Senior Vice President and Head of International Development, effective January 1, 2022. Bautista, previously CEO of ALBP – Global Hospitality Solutions and COO of Fogo De Chao, brings significant experience in growing businesses internationally. His role will focus on executing the company’s international development strategy. Chairman Kevin Sheehan expressed confidence in Bautista's ability to enhance brand growth in global markets.
Dave & Buster's Entertainment (NASDAQ: PLAY) announced it will report its third quarter 2021 financial results on December 7, 2021, after market close. A conference call is scheduled for 4:00 PM Central Time to discuss the results, accessible via phone or through a live webcast available on its website. The company operates 143 venues across North America, offering dining and entertainment experiences including games and live sports. The announcement suggests a focus on transparency and engagement with investors regarding their financial performance.
Dave & Buster’s has launched its Everyone’s a Winner sweepstakes holiday promotion, running from November 15 to January 2, 2022, guaranteeing over 3 million prizes including cash and free game play. In addition, the restaurant and entertainment venue introduces a limited-time seasonal menu featuring items like Black & Bleu Flatbread and Cajun BBQ Shrimp. VP of Brand Marketing, Pete Thornfield, emphasized the goal of enhancing guest experiences through engaging promotions and menu innovations.
Dave & Buster’s has launched an innovative NFT Digital Collectibles Prize program at locations nationwide, starting September 27. Customers can win NFT Digital Collectible coins and cards by exchanging tickets, with the first collector to complete the set receiving a unique Super Master NFT and a $10,000 Power Card. This initiative, developed in partnership with Sweet, integrates a gamified experience, encouraging users to collect and trade NFTs through interactive gameplay at more than 140 locations.
Dave & Buster's Entertainment (NASDAQ: PLAY) announced the impending retirement of CEO Brian A. Jenkins, effective September 30, 2021. Jenkins will transition to a Senior Advisor role until November 30, 2021, to assist with leadership continuity. Kevin M. Sheehan, current Chair of the Board, will serve as interim CEO while the search for a permanent successor begins. Jenkins leaves following a record quarterly performance, marking a successful recovery from the pandemic. The company is focused on innovation and growth as consumer demand for entertainment rebounds.
Dave & Buster's (NASDAQ: PLAY) reported record revenues of $377.6 million for Q2 FY 2021, a significant increase of 642.9% from $50.8 million in Q2 2020. Net income reached a record $52.8 million, equating to $1.07 per diluted share, up from a net loss of $58.6 million a year earlier. The company achieved an EBITDA of $114 million, or 30.2% of revenues. With all 142 stores open and strong liquidity of $340 million, Dave & Buster's is poised for growth, having launched new initiatives and expecting continued recovery in the third quarter.
Dave & Buster's announces enhanced football-viewing experiences for the season, featuring high-definition screens, expanded menu items, and live events. On September 16, the company will host Barstool Sports’ podcast, Pardon My Take, during the New York Giants vs. Washington game in Westbury, NY. New menu items include shareable dishes like Buffalo Crunch Wrap and Blue Moon Fried Pickles, available for a limited time. The D&B Sports Bar boasts a 40-foot-wide LED TV and improved seating to offer an immersive viewing experience for fans.
Dave & Buster's Entertainment, Inc. (NASDAQ: PLAY) will release its second quarter financial results for the period ending August 1, 2021, on September 9, 2021, after market close. A conference call to discuss these results will take place the same day at 4:00 p.m. Central Time. Interested parties can access the call by dialing (720) 543-0206 or (800) 458-4121. Additionally, the call will be available via live and archived webcast on the company's website under Investor Relations.
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