Dave & Buster's
|Traded as||NASDAQ: PLAY
S&P 600 Component
|Founded||Dallas, Texas (1982)|
|Founder||David O. Corriveau
James W. "Buster" Corley
|Headquarters||Dallas, Texas, U.S.|
Number of locations
|Stephen M. King, CEO|
|Revenue||$541.5 million (2011)|
Number of employees
Dave & Buster's (D&B) is an American restaurant and entertainment business headquartered in Dallas. Each Dave and Busters has a full-service restaurant and a video arcade. As of January 2018, the company has 104 locations in the United States and two in Canada.
The first Dave & Buster's was opened in Dallas in 1982 by David Corriveau and James "Buster" Corley. Corley had previously operated a bar called "Buster's" in Little Rock, AR next door to a saloon and game parlor called "Cash McCool's", owned by Corriveau. After opening Dave & Buster's, the two operated as co-CEOs.
In 1989, Edison Brothers Stores purchased a majority ownership in the restaurant to finance further expansion into other cities. Dave & Buster's was spun off from Edison Brothers, and went public with Andy Newman as chairman in 1995.
D&B acquired nine Jillian's locations after Jillian's filed for Chapter 11 Bankruptcy in 2004. Seven of these Jillian's locations have been re-branded with the Dave & Buster's name, while two of them were closed following the acquisition. The company announced on December 8, 2005, that it would be acquired by private equity firm Wellspring Capital Management. On July 16, 2008, Dave & Buster's Holdings Inc, filed with the SEC to again become a publicly traded company. The company had set a date for the Initial public offering IPO of October 5, 2012. However, it pulled out right before it opened. In June 2010, Oak Hill Capital Partners, in partnership with the company's management team, completed its acquisition of Dave & Buster's from Wellspring Capital Management.
In October 2014, Dave & Buster's launched a second IPO, selling 5.88 million shares at an offering price range of $16–18. The offering raised $94 million, which will be used for debt repayments. Shares will be traded on the NASDAQ stock exchange using the symbol PLAY.
Food and drinks
Items on the Dave & Buster's menu are offered from early lunch until late night and feature a wide variety of food. The selections include pastas, burgers, steaks, seafood, chicken and desserts. The menu is updated to reflect current trends and guest favorites. Some locations serve Sunday brunch. Buffets are available for special events and private parties. All D&Bs offer full bar service.
This section does not cite any sources. (November 2016) (Learn how and when to remove this template message)
The entertainment attractions offer traditional and modern, high-tech games. The Dave & Buster's Power Card replaces traditional tokens and tickets, and is required to activate all the Midway games and can be reloaded for additional play. The Power Card enables customers to activate games more easily and encourages extended play of games to increase customer spending. By replacing most coin activations, the Power Card has reduced the technical difficulties and maintenance issues associated with coin activated equipment. ($1 can buy 4.8-6.0 chips) Every Wednesday, all games are half-priced.
Events and sponsorships
Dave & Buster's is a corporate sponsor of the Ultimate Fighting Championship organization. There are screening rooms for every UFC pay-per-view and episode of The Ultimate Fighter. D&B also sponsors the charity Dave Bevans' Children in the fundraising event "D&B for DB's".
Prior sponsorships include a World Wrestling Entertainment match and a 2009 tour by the rock band Bowling for Soup. The WWE match took place on the July 20, 2009, edition of WWE Raw on the USA Network. It is believed to be the first match on any WWE program to have a specific sponsor associated with it.
- "Dave & Buster's Store Locations". Dave & Busters. Retrieved 19 December 2017.
- "Management". Dave & Buster's. Retrieved June 9, 2017.
- "Contact Us." Dave & Buster's. Retrieved on November 4, 2009.
- Myers, Dan. "Who are Dave and Buster? – LA Times". latimes.com. Retrieved 2017-12-07.
- "A rapidly expanding adult-entertainment chain was once a 'haunt for politicians, bond daddies, and cocaine whores'". Business Insider. Retrieved 2017-12-07.
- "Dave & Buster's, Inc. History". Funding Universe. Retrieved 24 March 2013.
- Dallas Business Journal: Sept 24, 2004-Dave & Busters and Gemini Investors to purchase Jillian's assets Archived November 7, 2009, at the Wayback Machine.
- Houston Business Journal: Oct 8, 2004-Dave & Buster's to turn out the lights on Katy Mills Jillian's
- "FindArticles.com - CBSi". findarticles.com.
- Dave & Buster's owner seeks to go public again. Archived 2008-10-15 at the Wayback Machine.
- "DAVE & BUSTER'S ENTERTAINMENT, INC. IPO". NASDAQ.com.
- "Spain upgrades smoking ban". 21 October 2010.
- Leslie Picker and Leslie Patton (10 October 2014). "Dave & Buster's Raises $94 Million in Games and Food Chain IPO". bloomberg.com. Bloomberg L.P. Retrieved 10 October 2014.
- "Financials in Hospitality – IGHRM: Guild for Hospitality, Restaurant, Food and Beverage Managers". www.hospitalityguild.com.