Ardent Leisure: Ardent Leisure Sharpens Focus On Theme Parks With $835m Sale Of US Unit

Ardent Leisure Group ALG.AX will sell its US entertainment business to restaurant and arcade chain operator Dave & Buster's Entertainment PLAY.O for $835 million, as the Australian firm looks to focus on its domestic theme parks and become debt free. Details The deal follows a strategic review of the Main Event unit by Ardent, which owns Australia's biggest theme park, and private investment firm RedBird Capital Partners, which took a 24.2% stake in June 2020 when it came in as an investor. RedBird manages more than $5 billion in assets and also has a stake in Fenway Sports Group that owns English soccer club Liverpool. Main Event operates more than 5,000 centres across 17 US states, including bowling alleys, arcade games, laser tag and virtual reality arenas, and accounted for more than 90% of the company's total revenue last year. Ardent will get $487 million in cash for its 72.6%...