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Restaurant and arcade chain Dave & Busters files for IPO

Restaurant and arcade chain Dave & Buster's Entertainment filed with U.S. regulators on Monday to raise up to $100 million in an initial public offering of its common stock.

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Increasing market valuations have prompted a string of restaurant chains to try to sell themselves or go public. Zoe's Kitchen, Potbelly, and Papa Murphy's Holdings have listed themselves in the past year.

Dave & Buster's Restaurant in New York City.
Ben Hider | Getty Images
Dave & Buster's Restaurant in New York City.

Dave & Buster's scrapped efforts to sell itself for more than $1 billion earlier this year. Reuters reported in June that the company has revived plans for an IPO after negotiations on an outright sale did not lead to a deal.

Poor market conditions led Dave & Buster's to abort plans to go public in 2012.

Oak Hill Capital Partners bought the company, founded in 1982, for $570 million in May 2010.

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Dave & Buster's, offer sports-oriented entertainment as well as video and simulation games along with food and beverages at 69 venues it owns and operates.

Its revenue increased about 4.5 pct to $635.6 million for the year ended Feb. 2 from a year ago, but net income dropped to $2.2 million from $8.8 million.

Jefferies and Piper Jaffray are the lead underwriters of the IPO, the Dallas, Texas-based company said in a filingwith the U.S. Securities and Exchange Commission.

Dave & Buster's intends to list its common stock on the Nasdaq under the symbol "PLAY." The filing did not reveal how many shares the company planned to sell or their expected price.

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The amount of money a company says it plans to raise in its first IPO filings is used to calculate registration fees. The final size of the IPO could be different.

By Reuters