Who Owns Dave & Buster's Company?

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Who Owns Dave & Buster's?

Dave & Buster's, the popular entertainment and dining chain, has a dynamic ownership structure that has evolved since its founding. Understanding who holds the reins is key to grasping the company's strategic direction and market performance.

As a publicly traded entity, its ownership is distributed among various stakeholders, including institutional investors, individual shareholders, and company insiders. The company's financial health, as indicated by its trailing 12-month revenue of $2.11 billion as of April 30, 2025, and a market capitalization of approximately $1.05 billion as of July 30, 2025, influences investor interest and ownership patterns.

The ownership of Dave & Buster's Entertainment, Inc. (PLAY) is primarily held by its shareholders. As of July 30, 2025, institutional investors are significant owners, with Vanguard Group, Inc. holding approximately 10.5% and BlackRock Inc. holding around 8.8% of the outstanding shares. These large holdings by institutional investors often signify a substantial influence on the company's governance and strategic decisions. Additionally, insiders, such as executives and directors, also possess ownership stakes, reflecting their commitment and alignment with the company's performance. For a deeper dive into its strategic positioning, one might analyze the Dave & Buster's BCG Matrix.

The genesis of Dave & Buster's traces back to the late 1970s in Little Rock, Arkansas, where founders David 'Dave' Corriveau and James 'Buster' Corley envisioned a unique entertainment and dining experience. Their initial concept combined Corriveau's existing entertainment business with Corley's neighboring restaurant, leading to the creation of a unified venue.

Founding Vision

David 'Dave' Corriveau and James 'Buster' Corley recognized a synergy between their respective entertainment and restaurant businesses. They aimed to create a single venue that offered both dining and amusement.

Early Operations

Corriveau operated 'Cash McCool's' and later 'Slick Willy's', while Corley managed a nearby restaurant. After a year of development, they relocated to Dallas, Texas, to launch their combined concept.

First Location

The first Dave & Buster's opened in Dallas in December 1982 within a former warehouse. The initial investment was $3 million for the 35,000-square-foot establishment.

Founder Roles

Corriveau primarily focused on the entertainment and gaming aspects, while Corley oversaw the food and beverage operations. This division embodied their 'Eat Drink Play' motto.

Initial Ownership

Initially, Corriveau and Corley were co-owners and co-CEOs of the company. They jointly managed the business in its formative years.

Expansion Financing

In 1989, a majority stake was sold to Edison Brothers Stores to fund further expansion. Despite this sale, the founders continued to be involved in the company's growth.

Dave & Buster's later transitioned from Edison Brothers, becoming a publicly traded company. The initial public offering (IPO) occurred on October 10, 2014, with 5,882,353 shares of common stock offered at $16 per share. This public offering provided capital for debt repayment and future growth initiatives, marking a significant shift in its ownership structure and making Dave & Buster's stock available to a broader range of investors.

Public Offering Details

The company's IPO in 2014 was a pivotal moment, allowing for greater access to capital markets. This event changed the Dave & Buster's ownership landscape, moving from private to public ownership.

• IPO Date: October 10, 2014
• Shares Offered: 5,882,353
• Price Per Share: $16
• Purpose of Proceeds: Repayment of indebtedness
• Publicly Traded Status: Yes, making it a public company

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Dave & Buster's transitioned from private ownership to a public entity on NASDAQ in 2014, marking a significant shift in its ownership structure. This IPO allowed for widespread ownership through the purchase of shares on the stock market.

The ownership of Dave & Buster's is predominantly held by institutional investors, reflecting a broad distribution among various financial entities. As of July 25, 2025, a substantial 91.45% of the company's shares were held by 423 institutional owners and shareholders who have filed with the SEC. This high level of institutional ownership indicates significant confidence from major financial players in the company's performance and future prospects. The company's market capitalization stood at approximately $0.97 billion USD as of August 2025, with 62,889,451 Class A shares outstanding.

Understanding Dave & Buster's Ownership

Dave & Buster's is a publicly traded company, meaning its ownership is dispersed among many shareholders. Understanding who owns Dave & Buster's involves looking at both institutional and individual investors.

• Dave & Buster's is traded on NASDAQ under the ticker symbol PLAY.
• As of July 2025, institutional investors held over 91% of the company's shares.
• Key institutional shareholders include Hill Path Capital LP, BlackRock, Inc., and Vanguard Group Inc.
• The company's market capitalization was around $0.97 billion in August 2025.
• For a deeper dive into the competitive landscape, explore the Competitors Landscape of Dave & Buster's.

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The governance of Dave & Buster's Entertainment, Inc. is managed by its Board of Directors, comprising independent directors and individuals with substantial executive backgrounds. As of July 2025, Tarun Lal holds the position of Chief Executive Officer, following Kevin M. Sheehan's tenure as Interim Chief Executive Officer since December 2024 and his role as Chair of the Board since April 2021.

Recent board changes include the nomination of Allen R. Weiss and Nathaniel J. Lipman as independent directors for the June 20, 2025, annual shareholders meeting. Weiss, formerly president of worldwide operations for Walt Disney Parks and Resorts, and Lipman, with extensive public and private company board experience, are set to bring valuable industry insights. Michael Griffith, Gail Mandel, and Jennifer Storms did not seek re-election.

Understanding Voting Power

Shareholders typically hold one vote per share of common stock. The absence of cumulative voting for director elections is a key aspect of the company's voting structure.

• One vote per share for common stock holders.
• No cumulative voting for director elections.
• This structure can influence minority shareholder representation.
• Details are available in the 2024 Annual Meeting proxy statement.

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In recent years, the ownership landscape of Dave & Buster's has seen dynamic shifts driven by strategic financial maneuvers and operational expansions. The company has actively engaged in share repurchases, signaling a focus on shareholder value, while simultaneously pursuing growth through new store openings and international ventures. These activities influence the concentration of Dave & Buster's ownership and the composition of its investor base.

The company's commitment to returning capital to shareholders is evident through its aggressive share repurchase program. In fiscal year 2024, approximately 5 million shares were repurchased, amounting to $172.0 million, which represented 12.4% of the outstanding shares at the end of fiscal 2023. Further demonstrating this trend, the Board of Directors authorized an additional $100 million for stock repurchases in December 2024, bringing the total authorization to $500 million. As of June 10, 2025, the company had repurchased about 1 million shares for $23.9 million in fiscal 2025, with approximately $104 million remaining under its repurchase authorization. These buybacks can lead to increased ownership concentration among remaining shareholders.

Strategic Expansion Initiatives

Dave & Buster's has been actively expanding its physical presence. In fiscal 2024, 14 new stores were opened, comprising 11 Dave & Buster's and 3 Main Event locations. Additionally, 44 Dave & Buster's stores underwent remodels since the program's inception in 2023. International expansion is also a key focus, with the first franchise location opening in Bengaluru, India, in December 2024, and plans for over 35 committed international franchise stores across five countries.

Leadership and Financial Performance

Leadership changes, such as the appointment of Tarun Lal as CEO in July 2025, alongside recent board transitions, aim to refine the company's strategic direction. Financially, the first quarter of fiscal 2025 reported revenue of $567.7 million, a 3.5% decrease year-over-year, with net income at $21.7 million. Comparable store sales saw a decrease of 8.3% during the same period. These financial results and strategic moves are closely watched by Dave & Buster's investors, influencing their positions and the overall Dave & Buster's ownership structure.

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