November 26, 2014 4:44 PM ET

Hotels, Restaurants and Leisure

Company Overview of Dave & Buster's Inc.

Company Overview

Dave & Buster’s, Inc. owns, operates, and licenses dining and entertainment venues for adults and families in North America. It provides a menu of casual dining food items, and a selection of non-alcoholic and alcoholic beverage items with an assortment of entertainment attractions, including screen televisions and audio systems, live sports and other televised events, skill and sports-oriented redemption games, video games, interactive simulators, and other traditional games. The company serves men and women aged 21 to 39, and families with children and teenagers. As of May 01, 2014, it had 68 dining and entertainment venues. The company was founded in 1982 and is headquartered in Dallas, T...

2481 Mañana Drive

Dallas, TX 75220

United States

Founded in 1982

9,864 Employees

Phone:

214-357-9588

Key Executives for Dave & Buster's Inc.

Chief Executive Officer and Director
Age: 56
President and Chief Operating Officer
Age: 51
Chief Financial Officer
Age: 52
Senior Vice President of Real Estate & Development
Age: 53
Senior Vice President of Entertainment & Game Strategy
Age: 45
Compensation as of Fiscal Year 2014.

Dave & Buster's Inc. Key Developments

Dave & Buster's Reportedly Mulls IPO

Dave & Buster's Inc., owned by Oak Hill Capital Partners is preparing to file for an initial public offering as soon as next week, Reuters reported citing people familiar with the matter. Jefferies LLC and Piper Jaffray Companies (NYSE:PJC) are undestood to be mandated by Dave & Buster's Inc. for the sale process. A spokeswoman for Oak Hill Capital Partners declined to comment. Representatives for Dave & Buster's Inc., Jefferies LLC and Piper Jaffray Companies could not be immediately reached for comment.

Dave & Buster's, Inc. Completes Refinancing of Outstanding Indebtedness

Dave & Buster's Inc. announced that it has closed a $50 million revolving credit facility and $530 million senior secured first lien Term Loan B. The facilities are senior secured obligations of Dave & Buster's Holdings Inc. and will be guaranteed by its material subsidiaries. The proceeds of this transaction were used to refinance in whole the existing senior secured credit facility (of which $144 million was outstanding as of May 4, 2014), repay $200 million aggregate principal amount of the 11.0% senior notes due June 1, 2018, repay all outstanding 12.25% senior discount notes issued by Dave & Buster's Entertainment Inc. due February 15, 2016 ($146.2 million accreted as of May 4, 2014) and pay related premiums, interest and expenses. Based on current market conditions, the refinancing represents a 490 basis point reduction in interest costs and is estimated to reduce annual cash and accrued interest expense by approximately $22 million per year. Jefferies & Company Inc. and Goldman, Sachs & Co. served as Joint Lead Arrangers and Joint Bookrunners for the transaction.

Dave & Buster's Inc. Announces Unaudited Consolidated Financial Results for the First Quarter Ended May 4, 2014

Dave & Buster's Inc. announced unaudited consolidated financial results for the first quarter ended May 4, 2014. For the period, total revenues increased 15.9% to $194.8 million from $168.2 million in the first quarter of 2013. Adjusted EBITDA increased 17.9% to $50.6 million from $42.9 million for the same period last year. Operating income was $28.23 million against $22.67 million for the same period last year. Income before provision (benefit) for income taxes was $20.71 million against $14.52 million for the same period last year. Net income was $13.51 million against $10.03 million for the same period last year. EBITDA was $45.52 million against $39.58 million for the same period last year.

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