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PLAY.US
On September 2022, Dave & Buster's Entertainment (PLAY) released Q2 2022 financial results which fell short of market expectations.
The company's operating margin declined to 12.1% from 21% a year ago, which was related among other things to acquisition-related costs, higher compensation expenses, and lower operational efficiencies.
On this news, Company's shares plunged by 14% and lost about $ 300 million of its capitalization on September 08, 2022.
Back on June 29, 2022, PLAY announced the completion of its acquisition of Main Event. Kevin Sheehan, Chairman of the Board commented on the event as follows: “These two brands perfectly complement each other, and their joining puts our Company in a strategically unparalleled position for accelerated, profitable growth...".
Given management's statements and subsequent facts, there are grounds for suspicion that either miscalculation or negligence or misleading shareholders about the profitability of acquiring another company may take place.
Alleged Offence
Mismanagement
Misleading Statements
Financial Misrepresentation
Failure to Disclose
Negligence
Omissions
Suspected Party
Directors
Management
Security Type
Stocks
Trade Direction
Long
Shock Event Date
07 September 2022
Collecting participants…
Created by Stan Vick, Scout

Dave & Buster’s Entertainment

Dave & Buster's Entertainment, Inc. owns and operates entertainment and dining venues for adults and families in North America. Its venues offer a menu of entrées and appetizers, as well as a selec...

    Ticker
    PLAY.US
    ISIN
    US2383371091
    CIK
    1525769
    Sector
    Communication Services
    Industry
    Entertainment
    Country
    USA
    Address
    1221 Beltline Road, Dallas, TX, United States, 75019