Dave & Buster's Accelerates International Expansion; Signs Two New Agreements to Develop D&B's in Pacific Rim and Europe.DALLAS--(BUSINESS WIRE)--Sept. 2, 1997-- Seven-country agreement for future restaurant/entertainment complexes Continuing its rapid international expansion, Dave & Buster's, Inc. (Nasdaq:DANB DANB Dental Assisting National Board ) today announced it has signed a new letter of agreement to develop its unique restaurant and entertainment concept in Taiwan, the Republic of China, Hong Kong Hong Kong (hŏng kŏng), Mandarin Xianggang, special administrative region of China, formerly a British crown colony (2005 est. pop. 6,899,000), land area 422 sq mi (1,092 sq km), adjacent to Guangdong prov. and Singapore, as well as another letter of agreement to develop in Germany, Switzerland, and Austria. "We're encouraged to see the tremendous interest in our concept from the international community," said Dave Corriveau, co-founder and co-chief executive officer of Dave & Buster's. "Over the next decade, we anticipate there will be approximately 30 international Dave & Buster's locations providing great food and great fun around the globe." "With our continuing global expansion, we've focused on building partnerships with key players in the countries Dave & Buster's will serve," added Buster Corley, co-founder and co-chief executive officer. "We're very pleased to establish long-term Long-term Three or more years. In the context of accounting, more than 1 year. long-term 1. Of or relating to a gain or loss in the value of a security that has been held over a specific length of time. Compare short-term. relationships with companies that have our same dedication to delivering high-quality food and entertainment to the world's leading metropolitan cities." Pacific Rim Pacific Rim, term used to describe the nations bordering the Pacific Ocean and the island countries situated in it. In the post–World War II era, the Pacific Rim has become an increasingly important and interconnected economic region. An agreement with TaiMall Development Co. will make it the licensee licensee n. a person given a license by government or under private agreement. (See: license, licensor) LICENSEE. One to whom a license has been given. 1 M. Q. & S. 699 n. for Dave & Buster's in the Pacific Rim. The company plans to develop seven locations in Taiwan, Hong Kong, the Republic of China and Singapore over the next several years. The first is slated to open in December 1998 in a suburban Taipei mall. "We're particularly excited about this deal," said Dave Corriveau, "since Taiwan represents a great gateway for D&B's intro into the entire Pacific Rim." According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Ted Chih-Fan I, chairman of TaiMall Development Co., the idea of arcades originated in Asia, which is now ripe for the next entertainment genre of the same nature. "The idea of combining a contemporary arcade with traditional skill-oriented games like billiards billiards, any one of a number of games played with a tapered, leather-tipped stick called a cue and various numbers of balls on a rectangular, cloth-covered slate table with raised and cushioned edges. , and including quality American food, really is a concept for the 21st century," he said. "I have no doubt Dave & Buster's will be successful in this market." Europe In Europe, Dave & Buster's will work with S.T.A. Salmann Trust Co. to launch its expansion into Germany, Switzerland and Austria. S.T.A. Salmann Trust Co. was created by George Huber, a leading restaurant owner restaurant owner n → dueño/a or propietario/a de un restaurante and developer who has extensive experience in the franchising area. Under this new agreement the company intends to open approximately seven to 10 Dave & Buster's during the next several years with the first location targeted to open in a heavily-trafficked mall currently under development in Berlin. "I knew from the minute I experienced my first Dave & Buster's earlier this year that it had the potential to become an incredible success story in Europe," said Steve Kraft, who will oversee S.T.A. Salmann's Dave & Buster's developments. Kraft, a U.S. native with more than 25 years experience in the European business market, went on to say, "Dave & Buster's will offer an evening of food and fun that is an unsurpassed value. People in Europe today Europe Today is a daily radio news show on the BBC World Service about public affairs throughout Europe. It is presented by Audrey Carville at 17:00 GMT every weekday. External links
In the context of general equities, this describing a buy interest in which a dealer is asked to offer stock, often involving a capital commitment. Antithesis of in touch with. quality, exciting, American-style entertainment, which is why our company is confident that Dave & Buster's will have great appeal here." Dave & Buster's initiated its first-ever licensing agreement with Bass PLC, one of the U.K.'s largest companies, to launch a chain of Dave & Buster's throughout the United Kingdom, the first of which opened in Birmingham on May 22, 1997. Dave & Buster's Birmingham is the first of seven stores planned for the United Kingdom. The second Bass D&B will open next summer in Bristol, England. Based in Dallas, Dave & Buster's was founded in 1982 and is one of America's leading upscale restaurant and entertainment concepts. With 10 locations already open in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , Dave & Buster's continues with aggressive domestic expansion, opening restaurants in Cincinnati, Ohio “Cincinnati” redirects here. For other uses, see Cincinnati (disambiguation). Cincinnati is a city in the U.S. state of Ohio and the county seat of Hamilton County. , and Denver, Colo., by the end of 1997. Four additional domestic D&B locations will open in 1998. Having ended its first full fiscal year as a public company on Feb. 2, 1997, Dave & Buster's saw revenues increase 69 percent to $88.8 million, earning a net income of $6.3 million, a 117 percent increase over 1995. CONTACT: Dave & Buster's, Inc., Dallas Dennis Paine, 214/357-9588 |
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