Dave & Buster’s Buys Main Event From Ardent for $835 Million

Game arcade operator Dave & Buster’s Entertainment Inc has struck a deal with Australia’s Ardent Leisure Group Limited for bowling and laser tag operator Main Event Entertainment Inc that values the Dallas-based business at $835 million.

Ardent Leisure expects to return about $430 million to shareholders after completion and will focus the business solely on its theme park roots in Australia. The deal follows a strategic review of its stake in the business alongside co-owner RedBird Capital Partners.

The sale of Main Event and the 5150 centers it runs across 17 U.S. states marks the culmination of a four-year ...