Ardent Leisure completes sale of its Main Event Entertainment

Ardent Leisure Group Limited (ASX: ALG) announced the completion of sale of its US business, Main Event Entertainment, to Dave & Buster’s Entertainment, Inc. The sale completed following the shareholder approval received at the Extraordinary General Meeting of shareholders on 29 June 2022 plus the satisfaction of all remaining conditions of the transaction.

Further, in the EGM, the Company updated its shareholders that it will be making a significant distribution of A$455.7 million in aggregate to shareholders from the net proceeds. 

Following completion of the Main Event sale and distribution payment, the Company would be debt-free and would use the cash to support its Theme Parks & Attractions business, investment in new major rides and attractions, redevelopment of present attractions and pay costs linked with preliminary town planning work. 

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