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Business Combination — Acquisition of Main Event (Tables)
12 Months Ended
Jan. 29, 2023
Business Combination and Asset Acquisition [Abstract]  
Summary of Purchase Price and Net Assets Acquired in the Acquisition
The components of the purchase price and net assets acquired in the Main Event Acquisition are as follows:
January 29, 2023
Gross cash consideration$853,219 
Contingent consideration (1)
13,794 
Less: cash acquired(34,541)
Total consideration$832,472 
Assets:
Current assets$16,820 
Property and equipment338,275 
Operating lease right of use assets293,924 
Tradenames99,200 
Other assets and deferred charges5,841 
Less Liabilities:
Accounts payable20,118 
Current portion of operating lease liabilities11,651 
Accrued liabilities41,196 
Operating lease liabilities279,213 
Deferred tax liabilities34,975 
Other liabilities6,273 
Net assets acquired, excluding goodwill$360,634 
Goodwill$471,838 
(1)    The Company has an obligation to pay, in cash, an aggregate amount equal to any “Transaction Tax Benefits,” with respect to any taxable year of the Company after the Closing Date ending on or before December 31, 2028, including the current taxable year. Transaction Tax Benefits are generally defined as any reduction in the Company’s liabilities for U.S. federal and state income taxes due to the use of net operating losses generated prior to the Closing Date. The contingent consideration could range from $0 (if no Transaction Tax Benefits are achieved) to a cap, as defined in the Merger Agreement, of approximately $14,600 (undiscounted) and will be paid to the selling shareholders in cash. The contingent consideration was initially valued based on the present value of the maximum amount provided in the Merger Agreement pending completion of the valuation analysis.
Summary of Unaudited Pro Forma Information Provides the Effect of the Main Event Acquisition The following unaudited pro forma information provides the effect of the Main Event Acquisition as if the acquisition had occurred on February 1, 2021:
Fiscal Year Ended
January 29, 2023
Fiscal Year Ended
January 30, 2022
Total revenues$2,165,040 $1,681,605 
Net Income$88,173 $75,744