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April 6 (Reuters) – Ardent Leisure Group said https://bit.ly/3r7Qmi9 on Wednesday it would sell its Main Event entertainment business in the United States to restaurant and arcade chain operator Dave & Buster’s Entertainment for $835 million to fund a recovery in its theme parks business.
The Dreamworld owner will receive $487 million in cash in return for its 72.6% stake in the entertainment business, which it will use to pare outstanding debt and pay certain legal charges.
The deal follows a strategic review by the company and co-owner Red Bird Capital Partners, and is unanimously recommended by Ardent’s board. (Reporting by Savyata Mishra in Bengaluru; Editing by Subhranshu Sahu)
