Acquisition
 3 Months Ended
May 01, 2022
Business Combinations [Abstract]  
Acquisition
Note 8: Acquisition
On April 6, 2022, the Company announced its entry into an Agreement and Plan of Merger, pursuant to which the Company has agreed to acquire 
100%
of the equity interests of Ardent Leisure Holding US, Inc. (“Ardent US”), doing business as “Main Event”, in exchange for cash consideration of
 $835 
million (to be adjusted for cash on hand, Ardent US transaction expenses, payments pursuant to Ardent US’s long term incentive plan, certain capital expenditures, and certain agreed upon working capital adjustments) less the indebtedness of Ardent US immediately prior to the closing of the transaction.
As of May 1, 2022, Ardent US owns and operates 
48
family entertainment centers under the name “Main Event” and
 3
family entertainment centers under the name “The Summit.” All
of
the centers are located in the United States. 
The closing of the transaction is subject to customary closing conditions, including approval by the shareholders of Ardent Leisure Group, and the transaction is expected to close in the second quarter. We expect the full amount of the cash consideration paid will be funded by a new term loan facility.