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Issue Date: Vol. 52, No. 9, September 2012, Posted On: 9/6/2012

Dave & Buster's Lifts 2012 Q2 On New Menu And Games; Amusement Revenue Soars 18%

TAGS: Dave & Buster's Inc., amusement business, coin-op news, amusement machine, Dave & Buster's 2012 second quarter,

DALLAS -- Dave & Buster's Inc. said its 59-store entertainment and restaurant chain achieved "outstanding" fiscal results during its second quarter of 2012, ended July 29.

Total revenues increased 15% to $147.9 million for the period, compared with $128.7 million in the second quarter of 2011. Revenue improvement was comprised of a 5.4% increase in comparable store sales, along with a $12.6 million increase in revenues from noncomparable stores.

Across all stores, food and beverage revenue rose 11.8%, while amusements and ""other" income jumped 18.1%.

Adjusted EBITDA increased 36% to $26.7 million in the second quarter, from $19.7 million in the second quarter of 2011.

Dave & Buster's chief executive Steve King said patrons responded well to new food and drink choices and that the company drove higher sales through extensive TV advertising of "our most significant new games launch ever."

Also contributing to positive results were successes of new Dave & Buster's store locations, including several venues boasting midsize 25,000-sq.ft. formats. The largest stores command up to 60,000 square feet, while the smallest in the chain are only about 15,000 square feet.

King had no updates on specific timing for the company's planned IPO. The company is "watching the market," he said.

Topic: Music and Games Features

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