Dave & Buster's falls on plans to acquire Main Event

Coast Entertainment Holdings

06/04/2022 13:27

** Shares of arcade and restaurant chain operator  PLAY.O 
down ~2.1% at $45.4 before the bell 
    ** PLAY to acquire Main Event from Ardent Leisure Group
Limited  ALG.AX  and RedBird Capital Partners for $835 mln in
cash  urn:newsml:reuters.com:*:nGNXc50zwl 
    ** Main Event is U.S. entertainment business unit of
Australia-based Ardent Leisure Group, and operates more than
5,000 centres across 17 U.S. states  urn:newsml:reuters.com:*:nL3N2W4191 
    ** Co expects to use cash on hand and proceeds from
committed bank financing to finance deal 
    ** Deal is expected to close later this year 
    ** As of last close, stock has risen 20.8% YTD

 (Reporting by Vansh Agarwal)
 ((Vansh.Agarwal@thomsonreuters.com;))