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Ward woos Dallas Victoria Ward Ltd. is talking with Dallas-based Dave & Buster's Inc. about opening its first Hawaii restaurant at the Ward Entertainment Center being developed in Kakaako.
restaurant outlet
The company is trying to land
Dave & Buster's for its new
$40 million Entertainment CenterBy Tim Ruel
Star-BulletinDave & Buster's, with an emphasis on attractions as well as food, would make a natural fit for the center, said Mitch D'Olier, chief executive of Victoria Ward Ltd.
D'Olier could not offer further details since both sides had not reached an agreement. A deal, if one happens, could come within three weeks to a month, he said yesterday.
Founded in 1982, Dave & Buster's operates 26 restaurants, which the company calls complexes, in the United States, plus two in the United Kingdom, one in Taiwan and another in Canada. It announced plans last week to open six restaurants in the Middle East.
Dave & Buster's restaurants serve pizza, burgers, ribs and pasta, and provide such attractions as virtual reality systems, bowling and traditional carnival games. The chain's restaurant complexes range from 31,000 to 70,000 square feet.
The $40 million Ward Entertainment Center will be anchored by a 16-screen movie theater run by Consolidated Amusement Co. and also have about 10 tenants on 70,000 square feet of retail space, according to D'Olier.
Ward broke ground on the Auahi Street center in June and the theaters are scheduled to open next June.
Dave & Buster's reported first-quarter revenues up 30.4 percent to $77.85 million from $59.7 million during the same period last year. First-quarter income rose to $2.89 million from a loss of $874,000 in the first quarter of 1999.
The chain's stock, traded on the New York Stock Exchange, has fallen 76 percent from a 52-week closing high of $26.44 on Aug. 24. The stock closed up 6 cents today at $6.25.
Dave & Buster's is named after co-founders Dave Corriveau and James W. "Buster" Corley. Executives from the Dallas company could not be reached for comment this morning.