I would actually say you are going to spend more around $200, maybe? It depends on what everyone eats and drinks and how much play time y'all would like.
I would say you can easily spend 15-20 per person for the food if each person eats an entree and gets a soft drink (or course, alcohol will tack more onto the bill).
The game cards (at least, in my city) cost 1.50 for the card and then you can add on $10, $20, etc. We always get, at the very least, $20 because that will keep us busy for a couple of hours (and that depends on the games you choose-the video games cost more than the skee ball). We also take our time, so what keeps us busy for a couple of hours may only take a kid an hour or so to go through.
There is a special at our Dave and Buster's right now for 15.99 per person. You choose off an special menu and get a $10.00 play card for 15.99. However, this is only Sun-Thurs (open-close) and Friday and Saturday (until 5 pm).
Hope this helps!