Dave & Buster's falls on plans to acquire Main Event for $835 mln

Coast Entertainment Holdings

06/04/2022 15:35

(Updates)
    ** Shares of arcade and restaurant chain operator Dave &
Buster's Entertainment Inc  PLAY.O  down 9.6% at $41.93
    ** Stock on track for fifth straight session of losses
    ** Dave & Buster's to acquire Main Event from Ardent Leisure
Group  ALG.AX  and RedBird Capital Partners for $835 mln in cash
 urn:newsml:reuters.com:*:nL3N2W4191
    ** Main Event, the U.S. entertainment business unit of
Australia-based Ardent Leisure, operates more than 5,000 centers
across 17 U.S. states
    ** PLAY expects to use cash on hand and proceeds from
committed bank financing to finance the deal
    ** Dave & Buster's shares down ~6% in the last 12 months,
and have gained 9.5% since the start of the year

 (Reporting by Vansh Agarwal and Uday Sampath in Bengaluru)
 ((UdaySampath.Kumar@thomsonreuters.com; within U.S.+1 646 223
8780; Twitter: https://twitter.com/sampath_uday))