Dave & Buster's Entertainments share increased as high as 15% in their launching last Friday, with a value of more than $700 million for their restaurant and arcade group.
The first offering for the public went up roughly $94 million, right after the shares were valued at $16, the lowest of the projected value, the lowest of the projected range is from $16-$18.
The organization's chief executive officer Stephen King emphasized he will not go with the changes in the gaming sector.
"Regardless if it is console gaming or mobile gaming, and we're able to go through it, is kinda exceptional and exciting and more vital than anything else," as he explained to CNBC's interview. In addition to that, majority of the company's sales are from redemption-a game that makes the users win prizes.
The company planned to make a debut before but according to King, the timing is not right. They don't want to force the plan. There are still a lot of factors to be considered.
"I think it worked for us. This is the best timing for us since everything is going better than the previous condition of the market. Our overall operation is much bigger this time. We are delivering promising results. Our income is better and our expected rate for expansion is roughly 10% for the year, and everything is just falling into place," he explained.
Dave & Buster is forecasting to put up 200 new units in Canada and US. It also sees to expand into untapped sectors, like Tampa, Portland and Seattle.
The company, controlled by private equity firm Oak Hill Capital Partners, offered about 5.88 million shares for sale.
The shares were priced at $17 on the Nasdaq and reached about $18. Piper Jaffray and Jefferies were few of the underwriters.
