Financial research concept

Entertainment Venue Other Store Operating Expense Rate

measures other venue operating expenses as a percentage of total revenue, including occupancy, advertising, utilities, repairs, and other store-level costs.

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 bucket includes several different economic drivers
The rate worsened as revenue deleveraged
Maintenance expense is not the same as capital reinvestment
Part of the Entertainment Venue Store Economics
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Entertainment venue other store operating expense rate measures the broad store-cost bucket outside direct product cost and payroll as a percentage of total revenue.

Dave & Buster's reported $725.1 million of other store operating expense in fiscal 2025, equal to 34.5% of total revenue, up from 32.4% in fiscal 2024.

The bucket includes several different economic drivers

Management attributed the $34.7 million dollar increase primarily to:

$12.7 million of higher marketing spending;
$20.3 million of non-marketing costs associated with noncomparable stores;
$5.3 million of higher non-capitalizable games maintenance, systems, and preventive maintenance at comparable stores; and
$3.7 million of higher utilities at comparable stores,

partly offset by operating efficiencies.

That composition makes the measure much broader than an occupancy ratio.

The rate worsened as revenue deleveraged

The expense rate rose by 2.1 percentage points even though management cited some operating efficiencies.

As with payroll, fixed and semi-variable store costs can become a larger share of revenue when sales weaken.

Maintenance expense is not the same as capital reinvestment

Non-capitalizable games maintenance appears in this operating-cost bucket, while purchases of new games and other long-lived assets can appear in capital expenditures.

Separating expense from capex is necessary to understand both current-period margin and cash reinvestment.

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.

Browse the full operating model in Company Analysis →

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 Revenue Food & Beverage Revenue Mix Operating Payroll RateOther Store Operating Expense RateCurrent concept
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 Food & Beverage Revenue Mix Operating Payroll Rate

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Compare store overhead leverage

Compare occupancy, marketing, maintenance, utilities, and other store costs against revenue and unit growth.

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