Dave and Buster's Entertainment, Inc. (NASDAQ: PLAY) is an entertainment and dining company that operates large-format venues combining arcade-style amusements with full-service restaurants and bars. Revenue is transactional, generated when customers purchase game play credits and food and beverage items at the point of sale inside company-owned stores. As of the 10-K filed March 31, 2026, the company operated 243 stores across 39 U.S. states and Puerto Rico, under two brands: Dave and Buster's (179 locations) and Main Event (64 locations). Store formats range from approximately 16,000 to 70,000 square feet. In fiscal year 2025 (52 weeks ended February 3, 2026), the company opened eight Dave and Buster's stores and three Main Event stores. The business carries substantial indebtedness, as noted in the filing's risk factors. There is no disclosed customer concentration, as revenue is drawn from walk-in retail consumers. The company competes in the broader entertainment and casual dining industry.

Revenue model

Transactional revenue at the store level from two sources: game play credits purchased by customers for arcade and amusement machines, and food and beverage sales including full bar service. All stores are company-owned and operated, with no disclosed franchise or licensing fees.

Products and services

Arcade and amusement game play (power card credits), full-service dining under a 'modern American dining' identity including burgers, handhelds, choice-grade steaks, pasta, and appetizers, full bar service, and a 'back-to-basics' menu launched in Q3 fiscal 2025 at Dave and Buster's locations. Brands operated: Dave and Buster's and Main Event.

Customers and end markets

Walk-in retail consumers seeking out-of-home entertainment and dining. No disclosed customer concentration. End market is discretionary consumer spending on entertainment and dining alternatives.

Value-chain role

Owner-operator of entertainment and dining venues. Procures games, food commodities, and entertainment content (including licensed game rights) from third-party suppliers. All store operations are managed by company employees under a regional management structure reporting to the executive team.

Geographic exposure

United States (39 states and Puerto Rico) and Ontario, Canada. As of the 10-K filed March 31, 2026: 243 total stores, with the largest concentrations in Texas (37 stores), California (24), Florida (13), New York (13), and Ohio (9).

Source: SEC 10-K, filed 2026-03-31

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