A Closer Look at Dave & Buster’s Entertainment Inc. (Nasdaq:PLAY)

Dave & Buster’s Entertainment Inc. (Nasdaq:PLAY) has been something of a meme stock and has also recently found its way into the conversation around the NFT marketplace. Shares have been tracking sideways now for almost a year. But that’s suddenly good ground to be marching on given what we have seen in the growth stock space over the past 3 months. In other words, PLAY is weathering the storm in good fashion, all things considered.

To further build the story, the company recently announced that it has appointed Michael Quartieri as Chief Financial Officer. According to the release, Mr. Quartieri will join Dave & Busters as Chief Financial Officer starting January 1, 2022. Mr. Quartieri was previously Chief Financial Officer and Corporate Secretary at LiveOne, (NASDAQ:LVO) a global platform for livestream and on-demand audio, video and podcast/vodcast content in music, comedy and pop culture. Prior to that, Mr. Quartieri was Chief Financial Officer, Treasurer, and Corporate Secretary at Scientific Games, a provider of gaming products, systems, and services to the lottery and pari-mutuel industries.

Dave & Buster’s Entertainment Inc. (Nasdaq:PLAY) bills itself as a company that engages in the ownership and operation of entertainment and dining venues under the name Dave & Buster’s.

It offers a full menu of entrées and appetizers, a selection of alcoholic and non-alcoholic beverages, and an assortment of entertainment attractions centered around playing games and watching live sports and other televised events.

According to company materials, “Founded in 1982 and headquartered in Dallas, Texas, Dave & Buster’s Entertainment, Inc., is the owner and operator of 144 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 40 states, Puerto Rico, and Canada.”

As noted above, PLAY just announced that it has appointed Michael Quartieri as Chief Financial Officer.

Kevin Sheehan, Chairman of the Board and Interim CEO, said, “Michael joins us at a great time. We have a renewed sense of urgency to bring even more fun to our guests, grow our business and create amazing opportunities for our team members. Our momentum is building. Michael’s financial expertise, strong track record for growth and engaging style will no doubt help to fuel our momentum, and we are excited to welcome him to our team.”

Recent action has seen 4% piled on for shareholders of the company during the trailing week. Market participants may want to pay attention to this stock. PLAY has evidenced sudden upward volatility on many prior occasions.

Earning a current market cap value of $1.7 billion, PLAY has a significant war chest ($27M) of cash on the books, which is balanced by about $290.7M in total current liabilities. PLAY is pulling in trailing 12-month revenues of $1.1B. In addition, the company is seeing major top-line growth, with y/y quarterly revenues growing at 191.6%. This may be a very interesting story and we will look forward to updating it again soon.

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Published by Viraj Shah

Viraj Shah has done M.Com (Finance) and currently pursuing CFP. He is a technical analyst who tracks US markets along with other global markets like India very closely. He is very passionate about stocks and believes that money can always be made in market.

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