Dave & Buster's Entertainment Inc at Jefferies Consumer Conference (Virtual) Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Andy Barish - Jefferies LLC - Analyst : I shall work off of some of those points, yes. What a difference a year makes, thankfully.

Question: Andy Barish - Jefferies LLC - Analyst : Yes. You guys look a lot more rested, I can tell you that. (laughter) I just wanted to focus on a couple of near-term things and then branch out to the brand relaunch that just took place and will continue. But on the near-term side of things, as you mentioned, the sales trajectory has been really, really positive. But your implied guidance for the 2Q shows a little bit of a slowdown over the next 7 to 8 weeks or so. Is there anything in there that we should be aware of? Is it seasonality? I know there is just a ton of different puts and takes right now that it's really tough to tease out. But just give us your thought process behind that guidance. REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. JUNE 22, 2021 / 6:05PM, PLAY.OQ - Dave & Buster's Entertainment Inc at Jefferies Consumer Conference (Virtual)

Question: Andy Barish - Jefferies LLC - Analyst : Great. And how much did -- as you can talk about California reopening last week, it's a big market for you guys. How does -- or in the context of how other states have reopened, is there a honeymoon and then a normalization? Or what do you tend to see out there with reopenings?

Question: Andy Barish - Jefferies LLC - Analyst : I would imagine just given the strength you are starting or have seen in a lot of the longer open markets, a real broadening of the consumer set again. I think initially it was a little bit more male and younger groups wanting to get out. But give us a sense of what the customer base looks like today coming into your stores versus the pre-pandemic levels.

Question: Andy Barish - Jefferies LLC - Analyst : Makes sense. And you mentioned that prior the deferred revenue increase coming from the noticeable ramp in Power Card per cap, which I think a lot of which is related to your elimination of discounting, can you go through what impact you think that has and some examples of what you are not doing now versus what had become part of the brand marketing story? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. JUNE 22, 2021 / 6:05PM, PLAY.OQ - Dave & Buster's Entertainment Inc at Jefferies Consumer Conference (Virtual)

Question: Andy Barish - Jefferies LLC - Analyst : And then shifting gears into the brand relaunch, can you highlight for us some of the things that you are excited about in terms of both the game's content and the menu reformulation and products?

Question: Andy Barish - Jefferies LLC - Analyst : Yes, it seems like getting the news out there is the last piece of it, as you noted. Traditionally, you've been a national cable marketer. You are now focusing on the summer and then, again, in the holidays with the marketing budget. How is that changing in terms of the media being used? And Scott, to get you in here, maybe from a cost perspective -- how does that shift throughout the year?

Question: Andy Barish - Jefferies LLC - Analyst : Helpful. Just in our last few minutes on, again, another initiative that was accelerated, the tech implementation that's in about half the stores. Just explain some of the key components of that and how that rolls out to the rest of the system here shortly. And is that a net labor savings for you?

Question: Andy Barish - Jefferies LLC - Analyst : Excellent. I think we have very quickly reached that half-hour allotted time. And appreciate the insights into some of the strategic direction the brand is taking and you guys are guiding. Thank you very much. REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. JUNE 22, 2021 / 6:05PM, PLAY.OQ - Dave & Buster's Entertainment Inc at Jefferies Consumer Conference (Virtual)