Financial research concept

Entertainment Venue Food & Beverage Revenue Mix

measures food-and-beverage revenue as a percentage of total venue revenue.

By Lee BaileyPublished Sep 26, 2026

Research context

See what supports this page, how current it is, and where comparable or historical context is available.

Research date: Sep 26, 2026Use the dated article and cited sources for the definition, examples, and stated limitations.
Operating-model context: 17 connected conceptsPart of the reviewed Entertainment Venue Store Economics; issuer definitions remain distinct where disclosed.
Company examples: 1 reviewed companyRelationships reflect supported examples, not a normalized cross-company KPI ranking.

The mix increase came from both food and beverage
Mix can change through both numerator and denominator effects
Dining mix changes store economics
Part of the Entertainment Venue Store Economics
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Entertainment venue food-and-beverage revenue mix measures the share of total company revenue generated by dining and beverage sales.

Dave & Buster's reported food-and-beverage revenue equal to 37.1% of total revenue in fiscal 2025, up from 34.8% in fiscal 2024.

The mix increase came from both food and beverage

Fiscal 2025 revenue included $536.2 million of food revenue and $243.1 million of beverage revenue, for $779.3 million combined.

Food represented 25.5% of total revenue and beverages represented 11.6%. Together they gained mix while entertainment's share fell to 62.9%.

Mix can change through both numerator and denominator effects

Food-and-beverage revenue increased while total company revenue declined. That produced a larger revenue share even without requiring every dining category to grow at the same rate.

This is why revenue mix answers a different question from absolute revenue growth.

Dining mix changes store economics

Food and beverage carried a 24.8% direct product cost rate in fiscal 2025, compared with 8.1% for entertainment.

A shift toward dining can therefore change direct product economics even before considering labor, occupancy, utilities, and other store costs.

Use food-and-beverage cost rate alongside the mix rather than assuming higher dining attachment is automatically margin-accretive.

Primary source: Dave & Buster's fiscal 2025 Form 10-K.

Part of the Entertainment Venue Store Economics

Connects entertainment and dining revenue mix with product-cost rates, comparable-store performance, new-store development and maturation, operating-cost leverage, pre-opening expense, and capital reinvestment for large-format entertainment venues.

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Where this concept fits

Revenue mix, direct product costs, and store-level operating leverageCurrent relationship
Entertainment and food-and-beverage revenue mix show what customers spend on inside the venue. Their direct product cost rates preserve different denominators, while payroll and other store operating expense rates show additional store-level cost intensity against total revenue.
Entertainment Cost Rate Entertainment Revenue Entertainment Revenue Mix Food & Beverage Cost Rate Food & Beverage RevenueFood & Beverage Revenue MixCurrent conceptOperating Payroll Rate Other Store Operating Expense Rate
Seasoned-store performance, noncomparable exposure, and new-store maturation
Comparable-store sales growth measures the seasoned base, while comparable and noncomparable operating weeks expose the time contribution behind each population. The comparable-store base count and honeymoon effect help distinguish mature-store performance from early new-store sales patterns.
Comparable Store Base Count Comparable Store Operating Weeks Comparable Store Sales Growth New Store Honeymoon Effect Noncomparable Store Operating Weeks
Footprint expansion, launch expense, and capital reinvestment
Ending company-owned store count and new-store openings show the physical venue base and expansion flow. Pre-opening costs capture launch expense before operations begin, while capital expenditures show cash invested in new stores, remodels, games, technology, and other property and equipment.
Capital Expenditures Company-Owned Store Count New Store Openings Pre-Opening Costs

See It in Company Research

These companies are examples of how the concept is reported or discussed in public filings. Definitions can differ by issuer; these links open company research rather than a normalized metric comparison.

PLAYOpen operating-model research →17 of 17 reviewed concepts in Entertainment Venue Store EconomicsRevenue mix, direct product costs, and store-level operating leverage8 of 8 bridge concepts supportedContinue through this bridge:Entertainment Cost Rate Entertainment Revenue Entertainment Revenue Mix Food & Beverage Cost Rate Food & Beverage Revenue Operating Payroll Rate Other Store Operating Expense Rate

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Compare dining attachment

Compare how food-and-beverage mix changes direct product economics and the composition of venue revenue.

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