Insert Coin (s) didn't last very long there (yes I know it's vids not pins), but I heard it was because the bouncers were pretty aggressive, the games weren't maintained, and the drink minimum was ridiculous. I bet your arcade actually thrives because this is what people are really looking for.

It was required to sit at the bar to play the consoles (according to yelp, $25 per person minimum tab). Lots of comedy clubs across the country run the same way, it's how they make the real money.

It's unfortunate because they had DJ nights, and the promotion videos were very professionally done

Maybe that's the problem, they overspent and the income couldn't pay the bills. Sounds like the op is keeping it simple and investing in the games, not the atmosphere which is what most people care about.