Dave & Buster's Entertainment Inc (PLAY) Q3 2018 Earnings Conference Call Transcript
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Dave & Buster's Entertainment Inc (NASDAQ: PLAY)
Q3 2018 Earnings Conference Call
Dec. 11, 2018, 5:00 p.m. ET

Contents:

  • Prepared Remarks

  • Questions and Answers

  • Call Participants

Prepared Remarks:

Operator

Good afternoon, everybody. Welcome to the Dave & Buster's Entertainment Incorporated Third Quarter 2018 Earnings Results Conference Call. Today's call is being hosted by Mr. Brian Jenkins, Chief Executive Officer. I'd like to remind everyone that today's call is being recorded and will be available for replay beginning later today.

Now I would like to turn the conference over to Mr. Arvind Bhatia, Director of Investor Relations, for opening remarks.

Arvind Bhatia -- Director of Investor Relations

Thank you, John and thank you all for joining us. On the call today are Brian Jenkins, Chief Executive Officer; and Joe DeProspero, Interim Chief Financial Officer. After comments from Mr. Jenkins and Mr. DeProspero, we will be happy to take your question.

This call is being recorded on behalf of Dave & Buster's Entertainment Incorporated and is copyrighted. Before we begin our discussion of the Company's results, I would like to call your attention to the fact that in our remarks, and our responses to your questions, certain items may be discussed which are not based entirely on historical facts. Any such items should be considered forward-looking statements and relating to future events within the meaning of the Private Securities Litigation Reform Act of 1995. All such forward-looking statements are subject to risks and uncertainties, which could cause actual results to differ from those anticipated. Information on the various risk factors and uncertainties has been published in our filings with the SEC which are available on our website at www.daveandbusters.com under the Investor Relations section.

In addition, our remarks today will include references to EBITDA, adjusted EBITDA and store operating income before depreciation and amortization, which are financial measures that are not defined under Generally Accepted Accounting Principles. Investors should review the reconciliation of these non-GAAP measures to the comparable GAAP results contained in our earnings announcement released this afternoon, which is also available on our website.

Now I will turn the call over to Brian.

Brian A. Jenkins -- Chief Executive Officer

Thank you, Arvind. Good afternoon, everyone and thank you for joining our call today. Well, I'm encouraged by our third quarter results and progress on our strategic priority. On a comparable week basis, we grew revenue by over 15%, EBITDA by 11%, and drove sequential improvement in comp store sales, including positive comps in amusement. At the same time, new store performance remained strong. Our 2017 class of stores is on track to generate first year cash on cash returns of about 60%, one of our best in recent history.