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16	member 1/06/25 11:27AM Re: Re: Re: Re: Re: Re: Re: Re: CEO leaving 15
BlueFIN, I asked management 2-3 weeks ago about the weak credit card data not being in line with their optimism. They told me that a lot had to do with YoY comps, and the remainder of... login to read the rest 3 view available tags
15	member 12/17/24 9:47AM Re: Re: Re: Re: Re: Re: Re: CEO leaving 14
At least management is now doubling down on their growth story with a total of $1.5m in repurchases from 4 different directors, and an upsized repurchase authorization despite the fact that there was still $112m... login to read the rest view available tags
14	member 12/13/24 3:00PM Re: Re: Re: Re: Re: Re: CEO leaving 13
The CC data called this quarter within 100 bps so not sure either but I guess I would take the CC data over mgmt speak. I thought this video that Hidden shared - https://www.youtube.com/watch?v=LFaxqJJLOZc - was great. I... login to read the rest 1 view available tags
13	member 12/13/24 10:01AM Re: Re: Re: Re: Re: CEO leaving 12
"I have no idea why they spoke so positively. The CC data looks awful." So either management is lying about Q4 being in line with Q3, a lie that will become apparent in less than 3... login to read the rest 2 view available tags
12	member 12/13/24 7:23AM Re: Re: Re: Re: CEO leaving 11
The company is responding to the value prop issue by offering discount. The Eat & Play combo costs $20 and comes with food and a $10 game credit. Winter Pass offers unlimited game play until view available tags
11	member 12/12/24 5:46PM Re: Re: Re: CEO leaving 10
The issue here is simple: the value proposition is fundamentally broken. At D&B, games cost around 8 chips per session. If you spend $60 on a card with 320 chips, you’re getting roughly 40–50 plays.... login to read the rest 5 view available tags
10	member 12/12/24 4:21PM Re: Re: CEO leaving 9
I have no idea why they spoke so positively. The CC data looks awful. The CEO leaving plus the CC data really diving makes me think this could end up being a zero. No position in... login to read the rest view available tags
9	member 12/12/24 10:14AM Re: CEO leaving 7
Thanks BlueFIN for sharing the credit card data. I don't have access to this data, so I don't have a good feeling for whether this data captures all stores, or if it only captures a... login to read the rest 1 view available tags
7	member 12/10/24 4:31PM CEO leaving
Does the CEO leaving kill the thesis here? The credit card data called for a revenue miss for this quarter (it called it almost spot on) but what is more concerning is that it is calling... login to read the rest 1 view available tags
6	member 11/14/24 11:52PM Tail Risk
Bailey, Thanks for the writeup, always enjoy reading about this sector. The thesis is straightforward, but I worry about the tail risk of new competition that eats away at the important teen/young adult demo that keeps D&Bs... login to read the rest 3 view available tags
5	member 8/26/24 4:02PM Re: Re: Questions 4
thank you for the write-up. this has not really participated in the recovery of some consumer discretionary names. A general question-why do you think the new management team is a good management team. view available tags
4	member 7/03/24 2:28AM Re: Questions 2
It does compete with staying home as every outing does. It totally competes with a movie but depending on the demo it could totally compete with other things. If you are a parent trying to... login to read the rest 3 view available tags
3	member 7/03/24 2:02AM Re: 1Q miss 1
Comps across casual dining, fast food, amusement parks, Bowlero and Topgolf, etc. all weakned in the first quarter. It's macro. I think certain elements of the way D&B has been undermanaged create an easy comp... login to read the rest 1 view available tags

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			2017	2018
Price:	38.10	EPS	3.6	0
Shares Out. (in M):	197	P/E	10.6	0
Market Cap (in $M):	7,494	P/FCF	10	0
Net Debt (in $M):	-779	EBIT	850	0
TEV (in $M):	6,716	TEV/EBIT	9	0

Description

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