The meaning of this term is "to bankrupt ones self on food and drink" and is typically known as a word close to the heart of Osaka's people.
We arrived on a Saturday evening in Dotombori after a day in Hiroshima and Himeji, and decided to check this place out. The restaurant is fronted by the famous Cui-daore doll or clown beating a drum. for some reason wearing glasses. We were already afraid....
Just inside the door are several cases of food models displaying what can be had in what is actually 8 different restaurants with prices getting higher the higher you go. We opted first for the tsukyaki floor so pressed "6" on the elevator. We were shown to a private tatami mat room for 2, and ordered sake and beer an tsukyaki for 2. It was really very good, not Kobe beef but the next best quality. I think all told the bill came to around 70US (we happened to be there over the 118Y/USD weekend instead of now when it is about 115Y/USD).
After wandering around a bit, tried the grilled crab legs under the giant crab sign down the road - another EXCELLENT pull, we ended up back at the clown, this time at the izakaya (bar) on 2. Yakitori and many sake later we really felt the true affect of cui-daore, especially after sleeping on our futon in Kyoto.
Highly recommend for a fun time for the linguistically challenged in Osaka... quality food at good prices.