The long-term goal of entertainment and dining chain Dave and Buster’s is to operate more than 200 stores in North America, CEO Steve King said.
To date, the company owns and operates 69 venues, having opened three stores already this year. Its plan, said King, is to open as many as eight stores in 2014.
“Over the long term, we believe that we can own and operate in excess of 200 stores in North America, which is approximately three times our current store base.”
In the first quarter of this year, which ended on May 4, the company’s total revenues increased 15.9 per cent to $194.8m and adjusted EBITDA rose 17.9 per cent to $50.6m. Food and beverage revenues increased 14.9 per cent and amusements and other revenues jumped 16.7 per cent.
“Our first quarter performance exceeded our expectations and marked another record-setting quarter in terms of revenues, adjusted EBITDA and adjusted EBITDA margins,” said King.
Dave and Buster’s has been the subject of takeover rumours in recent weeks, while it is also said to be considering an IPO.
