Dave & Buster's

{{short description|American restaurant and entertainment business}}

{{Infobox company

| name = Dave & Buster's Entertainment, Inc.

| logo = Dave & Buster's 2020.svg

| logo_size = 200px

| type = Public

| traded_as = {{NASDAQ|PLAY}}
S&P 600 Component

| foundation = {{start date and age|1982|8|31}}, in Dallas, Texas

| founder = David O. Corriveau
James W. "Buster" Corley

| key_people = Chris Morris (CEO)

| location_city = Dallas, Texas, U.S.

| locations = 156{{cite web|title=Dave & Buster's Store Locations|date=December 3, 2020 |url=http://www.daveandbusters.com/locations|publisher=Dave & Buster's|access-date=September 27, 2023}}

| subsid = Main Event Entertainment

| industry = Entertainment/Restaurant (Eatertainment)

| num_employees =

| homepage = {{official URL}}

}}

Dave & Buster's Entertainment, Inc. (stylized in all caps) is an American restaurant and entertainment business headquartered in Dallas."[https://www.daveandbusters.com/contact Dave & Buster's - Contact Us]." Dave & Buster's. Retrieved on January 20, 2020. Each Dave & Buster's location has a full-service restaurant, full bar, and a video arcade; the latter of which is known as the "Million Dollar Midway". As of February 2024, the company has 158 locations in the United States, as well as two in Puerto Rico and two in Canada.

History

File:DaveAndBusters.svg

File:Dave & Buster's 2014.svg

In 1982, David "Dave" Corriveau (1951-2015) and James "Buster" Corley (1951-2023) opened the first Dave & Buster’s in Dallas.{{cite magazine |title=The Prototype: Dave & Buster's |magazine=Electronic Gaming Monthly |publisher=Ziff Davis |issue=104 |date=March 1998 |page=109}} Corley had previously operated a bar called "Buster's" in Little Rock, Arkansas, next door to a saloon and game parlor called "Cash McCool's", owned by Corriveau.{{Cite news|url=http://www.latimes.com/food/sns-dailymeal-1855880-eat-who-are-dave-and-buster-20171030-story.html|title=Who are Dave and Buster? – LA Times|last=Myers|first=Dan |work=Los Angeles Times|access-date=December 7, 2017|language=en-US}} After opening Dave & Buster's, the two operated as co-CEOs.{{Cite news|url=http://www.businessinsider.com/dave-and-busters-sordid-history-2015-9|title=A rapidly expanding adult-entertainment chain was once a 'haunt for politicians, bond daddies, and cocaine whores'|work=Business Insider|access-date=December 7, 2017|language=en}}

File:2015, by Mike Mozart of TheToyChannel and JeepersMedia on YouTube -Dave -Busters.jpg]]

In 1989, Edison Brothers Stores purchased a majority of the 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.{{cite web|title=Dave & Buster's, Inc. History|url=http://www.fundinguniverse.com/company-histories/dave-buster-s-inc-history/|publisher=Funding Universe|access-date=March 24, 2013}} By 1997, the chain could be found in ten locations across the country.{{cite magazine |first=Marcus|last=Webb |title=D&B: Go West, Young Gamer |magazine=Next Generation|issue=31|publisher=Imagine Media |date=July 1997|page=29 |url=https://archive.org/details/NEXT_Generation_31/page/n29}}

D&B acquired nine Jillian's locations after Jillian's filed for Chapter 11 Bankruptcy{{cite news|url=http://dallas.bizjournals.com/dallas/stories/2004/09/20/daily45.html|title=Dave & Busters and Gemini Investors to purchase Jillian's assets|work=Dallas Business Journal|date=September 24, 2004|archive-url=https://web.archive.org/web/20091107091639/http://dallas.bizjournals.com/dallas/stories/2004/09/20/daily45.html |archive-date=November 7, 2009 }}{{cite news|url=http://www.bizjournals.com/houston/stories/2004/10/11/story7.html|title=Dave & Buster's to turn out the lights on Katy Mills Jillian's|work=Houston Business Journal|date=October 8, 2004}} in 2004. Seven of these Jillian's locations were rebranded with the Dave & Buster's name, while two were closed following the acquisition. The company announced on December 8, 2005, that it would be acquired by private equity firm Wellspring Capital Management.{{cite press release|url=http://findarticles.com/p/articles/mi_m0EIN/is_2005_Dec_9/ai_n15927187|title=Dave & Buster's, Inc. Agrees to Be Acquired by Wellspring Capital for $18.05 Cash Per Share; Dave & Buster's Announces Third Quarter Results of Operations|website=Find Articles|date=December 9, 2005|archive-url=https://web.archive.org/web/20060818225241/http://findarticles.com/p/articles/mi_m0EIN/is_2005_Dec_9/ai_n15927187|archive-date=August 18, 2006}}

On July 16, 2008, Dave & Buster's Holdings Inc, filed with the SEC to again become a publicly traded company.{{cite web|url=http://www.dentonrc.com/sharedcontent/dws/bus/stories/071608dnbusbusters.5a994b3f.html|title=Dave & Buster's owner seeks to go public again|archive-url=https://web.archive.org/web/20081015074207/http://www.dentonrc.com/sharedcontent/dws/bus/stories/071608dnbusbusters.5a994b3f.html |archive-date=October 15, 2008}} The company had set a date for the Initial public offering IPO of October 5, 2012.{{cite web|url=http://www.nasdaq.com/markets/ipos/company/dave-busters-entertainment-inc-860028-67686|title=DAVE & BUSTER'S ENTERTAINMENT, INC. IPO|website=NASDAQ.com}} 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.{{cite web|url=https://www.intergameonline.com/coin-op/news/spain-upgrades-smoking-ban|title=Spain upgrades smoking ban|date=October 21, 2010}}

File:Dave & Buster's Marietta interior 4.JPG]]

In October 2014, Dave & Buster's launched a second IPO, selling its 5.88 million shares at an offering price range of $16–18.{{cite web|url=https://www.bloomberg.com/news/2014-10-09/dave-buster-s-raises-94-million-in-games-and-food-chain-ipo.html|title=Dave & Buster's Raises $94 Million in Games and Food Chain IPO|author=Leslie Picker and Leslie Patton|work=bloomberg.com|publisher=Bloomberg L.P.|date=October 10, 2014|access-date=October 10, 2014}} The offering raised $94 million, to be used for debt repayments. Shares are traded on the NASDAQ stock exchange using the symbol PLAY.

Co-founder David Corriveau died on February 7, 2015 at his home in Dallas, Texas.{{Cite web |title=David Corriveau Obituary (1951 - 2015) - Dallas, TX - Dallas Morning News |url=https://obits.dallasnews.com/us/obituaries/dallasmorningnews/name/david-corriveau-obituary?id=8629061 |access-date=2024-03-06 |website=Legacy.com}}{{Cite web |last=Ruggless |first=Ron |date=2015-02-09 |title=Dave & Buster's cofounder David Corriveau dies |url=https://www.nrn.com/latest-headlines/dave-buster-s-cofounder-david-corriveau-dies |access-date=2024-03-06 |website=Nation's Restaurant News |language=en}}

Dave & Buster's, as with all other entertainment and restaurant businesses, was affected by the COVID-19 pandemic due to restrictions on non-essential businesses. The company's same-store sales fell by 70% during fiscal year 2020. As restrictions eased, the company began to recover in fiscal year 2021, being down by 10% only. The case of Omicron variant spread still affected the business resulting in a sales decrease in the fourth quarter of 2021.{{Cite web |title=Dave & Buster's to buy Main Event for $835M |url=https://www.restaurantdive.com/news/dave-busters-to-buy-main-event-for-835m/621662/ |access-date=July 19, 2022 |website=Restaurant Dive |language=en-US}}

Dave & Buster's CEO Brian Jenkins retired in September 2021, with chairman Kevin Sheehan named interim CEO.{{Cite web |title=Dave & Buster's CEO to retire |url=https://www.restaurantdive.com/news/dave-busters-ceo-to-retire/606957/ |access-date=July 19, 2022 |website=Restaurant Dive |language=en-US}} On April 6, 2022, Dave & Buster's announced that it would acquire the Plano, Texas-based family entertainment center chain Main Event Entertainment from Ardent Leisure and RedBird Capital Partners for $835 million, with its CEO Chris Morris becoming the new CEO of Dave & Buster's upon the completion of the sale in June 2022.{{Cite web |last=Lalley |first=Heather |title=Dave & Buster's completes its Main Event acquisition |url=https://restaurantbusinessonline.com/financing/dave-busters-completes-its-main-event-acquisition |access-date=July 19, 2022 |website=Restaurant Business |language=en}}

On January 2, 2023, co-founder James "Buster" Corley died of suicide that was caused by a self-inflicted gunshot wound sustained in his home near White Rock Lake. His daughter Kate Corley said that her father had suffered a stroke four months earlier that "caused severe damage to the communication and personality part of his brain".{{Cite news |last=Victor |first=Daniel |date=2023-01-04 |title=James 'Buster' Corley, Co-Founder of Dave & Buster's, Dies at 72 |url=https://www.nytimes.com/2023/01/04/business/james-buster-corley-dead.html |access-date=2024-03-06 |work=The New York Times |language=en-US |issn=0362-4331}}{{Cite web |last=Monroy |first=Mayra |date=2023-01-03 |title=James 'Buster' Corley, co-founder of Dallas-based Dave & Buster's, dead at 72 |url=https://www.wfaa.com/article/news/local/james-buster-corley-co-founder-of-dave-busters-dead/287-34514287-3f06-4df1-b06e-ca2b9e1d3a3b |access-date=2024-03-06 |website=WFAA |language=en-US}}

In 2023, the chain began to pilot a new location format known as the "store of the future", which began to expand to other locations in 2024. It focuses on new types of interactive social gaming spaces (such as electronic darts and shuffleboard tables) and updates to the bar experience (including a new self-serve beer wall in the arcade area, viewing areas with larger televisions, a {{Convert|40|foot|in}} video wall, and a "VIP watch room").{{Cite web |last=Klein |first=Danny |date=2024-01-23 |title=Dave & Buster's 'Store of the Future' Goes Big on Experience |url=https://www.fsrmagazine.com/feature/dave-busters-store-of-the-future-goes-big-on-experience/ |access-date=2024-03-04 |website=FSR magazine |language=en-US}}{{Cite web |last=Romeo |first=Peter |title=Dave & Buster's is set to hit 'Play' on a new high-tech prototype |url=https://restaurantbusinessonline.com/operations/dave-busters-set-hit-play-new-high-tech-prototype |access-date=2024-03-06 |website=Restaurant Business |language=en}}

Operations

=Food and drinks=

Items on the Dave & Buster's menu are offered from early lunch until late night and include pastas, burgers, steaks, seafood, chicken and desserts. The menu is frequently 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.{{cite web|url=http://www.hospitalityguild.com/Financial/Restaurants/Dave_&_Busters.htm |title=Financials in Hospitality – IGHRM: Guild for Hospitality, Restaurant, Foodnd Beverage Managers|website=www.hospitalityguild.com}} Dave & Buster's is more targeted towards an adult clientele than most location-based entertainment in general, with all guests under 21 required to be accompanied by a guardian and only allowed in until 10 p.m.

=Games=

Dave & Buster's dubbed their arcade section, which features interactive games and simulators, "Million Dollar Midway".{{Cite web|title=Dave & Buster to launch online version of 'Million Dollar Midway'|url=https://www.bizjournals.com/dallas/stories/2001/02/19/daily24.html|website=www.bizjournals.com}}{{Cite web|url=http://www.umich.edu/~msjrnl/backmsj/990920/current/leisure/leisure02.html|title=Review: Dave & Buster's Million Dollar Midway|website=www.umich.edu|access-date=January 24, 2018}} In 1997, Dave & Buster's introduced the Power Card, a declining balance card or 'debit card' that replaces traditional tokens and tickets, and is required to activate most arcade games and can be reloaded at so called "power stations". The Power Card is intended to enable customers to activate games more easily and encourage extended play of games to increase customer spending.{{Cite web|url=http://www.company-histories.com/Dave-Busters-Inc-Company-History.html|title=Dave & Buster's, Inc. -- Company History|website=www.company-histories.com|access-date=January 24, 2018}}{{Cite news|url=http://www.ebay.co.uk/gds/A-Comprehensive-Guide-to-Understanding-Dave-and-Busters-/10000000012798210/g.html|title=A Comprehensive Guide to Understanding Dave and Busters|work=eBay|access-date=January 24, 2018|language=en}} By replacing most coin operations, the Power Card has reduced the technical difficulties and maintenance issues associated with coin-operated equipment. In 2015, Dave & Buster's installed proximity game card readers that allow guests to simply tap on the readers to play.{{Cite web|url=https://www.vendingtimes.com/articles/embed-smarttouch-makes-debut-across-dave-busters-c-8868?iid=2575E4D7255045798861E2E5C2D4EFFC|title=Embed Smart-Touch Makes Debut Across Dave & Buster's Chain {{!}} Articles {{!}} Vending Times|website=www.vendingtimes.com|language=en-US|access-date=January 24, 2018}} Since 2020, Power Cards have been able to be added to Google Pay and Apple Wallet through the DING DING DING app.{{Cite web|date=December 15, 2020|title=Dave & Buster's Fun App|url=https://www.daveandbusters.com/header-pages/app/|access-date=March 1, 2021|website=Dave & Buster's|language=en}}

=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".{{Citation needed|date=February 2018}}

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 also sponsors postgame reports of San Jose Sharks games.{{Cite web|url=https://www.nhl.com/sharks/news/sharks-invite-fans-to-dave-busters-for-official-game-watching-party/c-474286|title=Sharks Invite Fans To Dave & Buster's For Official Game Watching Party|website=NHL.com|language=en-US|access-date=February 14, 2018}}

International

The firm opened a UK restaurant in 1998 in Cribbs Causeway. Another restaurant was subsequently opened in Solihull. The UK restaurants were unsuccessful and both have since closed.{{Cite web |last=Grubb |first=Sophie |date=2023-09-09 |title=The lost Bristol attraction that was 'the greatest place on earth' |url=https://www.bristolpost.co.uk/news/bristol-news/gallery/lost-bristol-attraction-the-greatest-8735855 |access-date=2023-10-17 |website=Bristol Live |language=en}}{{Cite web |date=2000-01-01 |title=Dave &Buster's set for Solihull |url=https://www.thecaterer.com/archive/dave-busters-set-for-solihull |access-date=2023-10-17 |website=The Caterer |language=en}}{{Cite web |date=2011-09-07 |title=Trio of car dealerships to open in Solihull {{!}} TheBusinessDesk.com |url=https://www.thebusinessdesk.com/westmidlands/news/215810-trio-of-car-dealerships-to-open-in-solihull |access-date=2023-10-17 |website=West Midlands |language=en}}

In 2022, the firm announced a franchise deal that would see it expand into Saudi Arabia, the United Arab Emirates, and Egypt.{{Cite web |title=11 New Dave and Buster's to Launch – Retail & Leisure International |url=https://www.rli.uk.com/11-new-dave-and-busters-to-launch/amp/ |access-date=2023-09-11 |website=www.rli.uk.com}}

The brand will open its first branches in the Philippines in 2025, under a franchising agreement with The Bistro Group.{{Cite web |title=Dave & Buster's International Cements Its Presence in the APAC Region |url=https://www.businesswire.com/news/home/20240416173901/en/Dave-Buster%E2%80%99s-International-Cements-Its-Presence-in-the-APAC-Region |access-date=2024-07-02 |website=www.businesswire.com}}