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Dave & Buster’s Entertainment Inc. (PLAY) stock has surged in the premarket trading session; here’s why

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In premarket trading, Dave & Buster’s Entertainment Inc. (PLAY) stock soared by 2.22% to the price of $43.81 at the time of writing. PLAY’s stock closed the previous session at $42.86 and lost -2.10%. The PLAY stock volume traded today at 0.88 million shares, while the 3-month average volume is 1.57 million. Compared to this, today’s volume is almost halved. Over the last 12 months, PLAY shares have risen by 260.32%. In the past week, the share moved down by -1.52%. Dave & Buster’s Entertainment Inc. has a current market value of $2.06 billion and 47.64 million outstanding shares.

About Dave & Buster’s Entertainment Inc.

Dave & Buster’s Entertainment Inc. is a recreational and restaurant operating company which focuses on providing a platform where customers can dine, get entertainment events and participate in games. The company was founded in 1982 and its headquarter is established in Dallas, Texas.

Location of Operation

The motto of the company is to “Drink Play and Watch” at one of the 141 venues that Dave & Buster’s Entertainment Inc. operates in. These venues exist all over North America. The company has a wide variety of menu that has a diverse range of attractions including entrees, appetizers, and beverages of many kinds. The attractions include an extended list of games, events, live shows, and sports. Dave & Buster’s Entertainment Inc. has these venues in the 40 states as well as Puerto Rico and Canada.

Dave & Buster’s Entertainment Inc. announces recent business activities update

Today, the PLAY stock announced that is providing an update on its recent business activities and operations. The trends of the businesses in the Dave & Buster’s Entertainment Inc. are updated till 18th April and consist of the first fiscal quarter consisting of 13 weeks – beginning from the start of February 2021 and ending on 2nd of May 2021.

PLAY stock opened up 107 stores in the start of the first quarter of 2021. This represents 76% of the total 141 stores that Dave & Buster’s Entertainment Inc. owns. However, as of 18th April, the company opened up 138 stores. However, the pandemic has allowed the reopening of restaurants in North America but still has restrictions of the timing and limitation on entertainment as well as customer capacity.

Highlights of the quarter-up-to-date

The highlights of the operational activity as of 18th April in 2021 are compared to 2019 rather than 2020. This is because the company believes the pandemic has disrupted the normal operation and business activity flows such that it is not effective for comparison.

In the first 11 weeks of the first quarter, the overall sales slumped down to -38% as compared to 2019. These included the partially and restricted venues. The fully operational venues of the company achieved 81% of the sales as compared to 2019. The up to 18th April, sales have totaled to a value of $228 million and the company expects that in the remaining two weeks, the sales will complete to an estimate of $252-$257 million. The company had previously estimated the sales for the quarter to be around $210-$220 million.

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