SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Current Report Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): July 12, 2019
DAVE & BUSTER’S ENTERTAINMENT, INC.
(Exact name of registrant as specified in its charter)
2481 Manana Drive
Dallas TX 75220
(Address of principal executive offices)
Registrant’s telephone number, including area code: (214) 357-9588
Check the appropriate box if the Form 8-K filing is intended to simultaneously satisfy the reporting obligation of the registrant under any of the following provisions:
|☐||Written communications pursuant to Rule 425 under the Securities Act|
|☐||Soliciting material pursuant to Rule 14a-12 of the Exchange Act|
|☐||Pre-commencement communications pursuant to Rule 14d-2(b) Exchange Act|
|☐||Pre-commencement communications pursuant to Rule 13e-4(c) Exchange Act|
Securities registered pursuant to Section 12(b) of the Act:
|Title of each class||Trading Symbol(s)||Name of each exchange on which registered|
|Common Stock $0.01 par value||PLAY||NASDAQ Stock Market LLC|
Indicate by check mark whether the Registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
|Item 8.01.||Other Events.|
On July 12, 2019, Dave & Buster’s Entertainment, Inc. (the “Company”) issued a press release announcing that the Board of Directors increased the Company’s share repurchase authorization by $200M. A copy of this Press Release is attached hereto as Exhibit 99.
|Item 9.01.||Financial Statements and Exhibits.|
|99||Press release dated July 12, 2019.|
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
|DAVE & BUSTER’S ENTERTAINMENT, INC.|
|Date: July 15, 2019||By:||/s/ Robert W. Edmund|
|Robert W. Edmund|
|General Counsel, Secretary and|
|SVP of Human Resources|
Dave & Buster’s Announces Additional Share Repurchase Authorization of $200 million
DALLAS, July 12, 2019 (GLOBE NEWSWIRE) -- Dave & Buster's Entertainment, Inc., (NASDAQ:PLAY), ("Dave & Buster's" or "the Company"), an owner and operator of entertainment and dining venues, today announced an increase in share repurchase authorization.
On July 12th, 2019, the company’s board of directors authorized the repurchase of an additional $200 million of the company’s stock under the existing repurchase program through the end of fiscal 2020. All other terms of the share repurchase program remain in effect. The company now has a total share repurchase authorization of $800 million. Year-to-date, as of July 11, 2019, the company had repurchased 3.1 million shares for $135 million. As of the same date, the inception-to-date total was approximately 9.4 million shares for $465 million. Including the additional authorization, the company currently has approximately $335 million available for share repurchases.
About Dave & Buster’s Entertainment, Inc.
Founded in 1982 and headquartered in Dallas, Texas, Dave & Buster's Entertainment, Inc., is the owner and operator of 130 venues in North America that combine entertainment and dining and offer customers the opportunity to "Eat Drink Play and Watch," all in one location. Dave & Buster's offers a full menu of entrées and appetizers, a complete selection of alcoholic and non-alcoholic beverages, and an extensive assortment of entertainment attractions centered around playing games and watching live sports and other televised events. Dave & Buster's currently has stores in 39 states, Puerto Rico, and Canada.
The statements contained in this release that are not historical facts are forward-looking statements. These forward-looking statements involve risks and uncertainties and, consequently, could be affected by our level of indebtedness, general business and economic conditions, the impact of competition, the seasonality of the Company's business, adverse weather conditions, future commodity prices, guest and employee complaints and litigation, fuel and utility costs, labor costs and availability, changes in consumer and corporate spending, changes in demographic trends, changes in governmental regulations, unfavorable publicity, our ability to open new stores, and acts of God. Accordingly, actual results may differ materially from the forward-looking statements, and the Company therefore cautions you against relying on such forward-looking statements. Dave & Buster's intends these forward-looking statements to speak only as of the time of this release and does not undertake to update or revise them as more appropriate information becomes available, except as required by law.
For Investor Relations Inquiries:
Arvind Bhatia, CFA
Dave & Buster’s Entertainment, Inc.