Both concepts-housed in Texas-have been in similar markets and thrived in the past several years, the CEO said. However, Morris noted that Dave & Buster's still gets plenty of family occasions, and the same is true for Main Event when it comes to the younger demographic. Main Event's personality is viewed as family-friendly, while Dave & Buster's caters more toward young adult males. Both brands cast a wide net, but sell experiences in different manners. The CEO has also been interested in learning more about each chains' guest profiles. There is not one particular market initiative, there is no mismatch that's really driving that-it's just simply an acceleration across both brands that we're feeling at this point in time." So it's not centered at one particular region of the country. The acceleration of the comp store sales going from Q2 to Q3, there is really not one single thing that we can point to, but what I'll tell you is we're seeing that lift, that acceleration, across the entire portfolio. "So we're very optimistic about the direction of those brands. "We're incredibly enthusiastic about the momentum that we're seeing in both businesses, and really the strength of that momentum over a long period of time," Morris said during the company's Q2 earnings call. Main Event has experienced a 48.9 percent increase in walk-in figures.ĭave & Buster's finalized its $835 million purchase of Main Event in June.
Dave & Buster's walk-in sales have grown 20 percent in the initial part of Q3.
Combined same-store sales have increased 22.1 percent quarter-to-date against 2019 comparisons, including a 17.6 percent rise at Dave & Buster's and a 42.3 percent uptick at Main Event. Matters have improved even further in Q3. Adjusted EBITDA was a record, as well, at $119.6 million, or 39 percent better than 2019. The mark is a second-quarter record, thanks to $51.4 million from Main Event. The overall company recorded $468.4 million in revenue, good for a 35.9 percent increase versus three years ago. Main Event's comps grew 29.7 percent, and walk-in sales jumped 34.9 percent. Dave & Buster's same-store sales grew 9.6 percent versus 2019, and walk-in sales lifted 13 percent. The first has been performing a deep dive into store operations, which brought forth good news in the second quarter ending July 31. In Chris Morris' first 60 days as CEO of the combined Dave & Buster's and Main Event entity, he's turned his attention toward three near-term priorities.
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