Who Owns Dave & Buster’s: An Overview
Dave & Buster’s is a renowned American chain that combines dining with entertainment, offering a unique experience of food and games under one roof. But who owns Dave & Buster’s?
As of 2025, Hill Path Capital emerged as the largest shareholder of Dave & Buster’s holding 17.67% of the company’s shares.
History of Dave & Buster’s
Dave & Buster’s was founded in 1982 by David “Dave” Corriveau and James “Buster” Corley in Dallas, Texas. The two entrepreneurs came from different business backgrounds but shared a vision for an entertainment destination that combined great food and arcade-style games under one roof.
The Founders: Dave Corriveau and Buster Corley
- Dave Corriveau was an experienced arcade operator who owned a popular gaming and entertainment business. He had a deep understanding of the arcade industry and saw the potential in combining it with dining to attract a wider audience.
- Buster Corley was a seasoned restaurateur who operated a successful traditional dining establishment in Dallas. His expertise in food service and hospitality provided the foundation for the dining experience at Dave & Buster’s.
The two entrepreneurs noticed that customers would often visit Buster’s restaurant for a meal before heading to Dave’s arcade for entertainment. This sparked the idea of merging both experiences into a single venue. They partnered and opened the first Dave & Buster’s location in 1982, offering a unique combination of high-quality food, a full-service bar, and a large arcade.
Expansion and Growth
The concept quickly gained popularity, attracting both casual diners and gaming enthusiasts. The success of the first location led to the expansion of Dave & Buster’s across multiple U.S. cities throughout the 1990s and 2000s. The company introduced new games, event spaces, and sports viewing areas, appealing to a wide range of customers, from families to corporate groups.
In 1995, Dave & Buster’s went public by listing its shares on the NASDAQ stock exchange under the ticker symbol PLAY. This move helped the company secure funding for expansion and solidify its position as a leader in the restaurant-entertainment industry.
Modern Developments and Acquisitions
Dave & Buster’s has continued to evolve, introducing virtual reality attractions, sports bar experiences, and interactive gaming technologies. In June 2022, the company acquired Main Event Entertainment for $835 million, further expanding its footprint in the family entertainment sector.
Despite the passing of Dave Corriveau in 2015 and Buster Corley in 2023, their legacy remains at the heart of the brand. Today, Dave & Buster’s operates over 170 locations across the United States and Canada, continuing to innovate and expand in the entertainment dining industry.
Who Owns Dave & Buster’s?
Dave & Buster’s is a publicly traded company listed on the NASDAQ stock exchange under the ticker symbol PLAY.
As a publicly held corporation, its ownership is divided among institutional investors, mutual funds, and individual shareholders.
No single entity has complete control over the company, but certain institutional investors hold significant stakes, allowing them to influence corporate decisions.
The largest shareholder is Hill Path Capital, a private investment firm known for investing in consumer-focused businesses. Hill Path Capital owns 17.67% of Dave & Buster’s shares, making it the most influential stakeholder. The firm has actively shaped the company’s strategic direction, including expansion plans and financial restructuring.
Dave & Buster’s Major Shareholders
Here’s a list of major investors and firms who own Dave & Buster’s:
Hill Path Capital
Hill Path Capital is the largest shareholder of Dave & Buster’s, owning 17.67% of the company’s shares. Founded by Scott Ross, Hill Path specializes in investing in consumer-focused businesses, particularly in hospitality and entertainment. The firm has a history of taking active roles in its portfolio companies to improve profitability and operational efficiency.
As the largest stakeholder, Hill Path Capital exerts significant influence over Dave & Buster’s strategic decisions. It has played a key role in shaping the company’s expansion strategy, cost optimization, and leadership decisions. Given its large stake, Hill Path can push for changes in board composition, executive management, and long-term growth initiatives.
BlackRock
BlackRock, the second-largest shareholder, holds 13.27% of Dave & Buster’s shares. It is one of the world’s largest asset management firms, overseeing trillions of dollars in investments. BlackRock typically invests in publicly traded companies through its various funds, ETFs, and index funds.
Although BlackRock does not directly manage Dave & Buster’s daily operations, its large ownership stake allows it to vote on key corporate decisions. The firm generally supports long-term value creation, ensuring that management strategies align with the interests of institutional investors. BlackRock’s influence comes primarily through proxy voting, where it supports or opposes company policies based on governance, sustainability, and financial performance.
Vanguard Group
Vanguard Group owns 10.98% of Dave & Buster’s shares, making it the third-largest investor. Vanguard is a global investment firm managing trillions in assets, primarily through mutual funds and ETFs.
Vanguard’s investment in Dave & Buster’s indicates confidence in the company’s long-term growth and stability. Like BlackRock, Vanguard’s role is more passive, focused on voting rights and governance matters rather than direct operational control. It supports initiatives that enhance shareholder value and often aligns its votes with corporate governance best practices.
Eminence Capital
Eminence Capital holds 7.94% of Dave & Buster’s shares. This hedge fund, founded by Ricky Sandler, is known for making activist investments in consumer and entertainment businesses. Unlike BlackRock and Vanguard, which focus on passive investing, Eminence Capital tends to take an active role in influencing corporate strategies.
Eminence Capital’s investment suggests that it sees growth potential in Dave & Buster’s business model. The firm may push for changes in leadership, operational efficiency, or financial restructuring if it believes shareholder value is at risk. It has the ability to lobby for board seats, mergers, or strategic shifts that could enhance profitability.
Nomura Holdings
Nomura Holdings, a Japanese financial giant, owns 6% of Dave & Buster’s shares. Nomura operates globally in investment banking, asset management, and trading. Its investment in Dave & Buster’s aligns with its strategy of diversifying into international consumer and entertainment markets.
While Nomura does not actively manage Dave & Buster’s operations, its presence as a major shareholder provides stability and international financial backing. The firm’s role is primarily financial, ensuring that the company maintains a strong balance sheet and remains attractive to global investors.
Who Controls Dave & Buster’s?
The strategic direction and decision-making at Dave & Buster’s are overseen by its Board of Directors, executive leadership team, and major institutional investors. These entities play a crucial role in shaping the company’s growth strategy, financial management, and operational policies.
Dave & Buster’s CEO: Kevin M. Sheehan
As of December 2024, Kevin M. Sheehan serves as the Interim Chief Executive Officer (CEO) and Chairman of the Board at Dave & Buster’s. Sheehan brings extensive experience in leading hospitality and entertainment brands, previously holding leadership positions at Norwegian Cruise Line and Scientific Games Corporation.
As CEO, Sheehan is responsible for:
- Setting the company’s vision and growth strategy
- Overseeing financial performance and operational efficiency
- Expanding the brand through new locations and acquisitions
- Managing relationships with investors and key stakeholders
His leadership has been instrumental in navigating post-pandemic challenges, enhancing digital gaming experiences, and driving profitability.
Role of the Board of Directors
The Board of Directors is responsible for corporate governance, risk management, and long-term strategic planning. It consists of industry experts, business leaders, and major investors who guide the company’s policies.
The Board makes critical decisions regarding:
- Executive appointments and compensation
- Expansion plans and mergers/acquisitions
- Financial oversight and shareholder value maximization
- Operational improvements and brand positioning
With Hill Path Capital being the largest shareholder, its influence is reflected in board representation, ensuring that investor interests align with corporate growth strategies.
Role of Institutional Investors
Dave & Buster’s institutional investors, such as Hill Path Capital, BlackRock, and Vanguard, play a significant role in company governance. While they do not directly manage daily operations, their influence is seen in:
- Proxy voting on corporate decisions
- Board member appointments
- Encouraging profitability through strategic investments
- Ensuring financial stability and risk management
Hill Path Capital, as the largest investor, has the strongest influence over company strategy. It has actively supported leadership changes, operational optimizations, and expansion efforts.
Executive Leadership Team
Aside from the CEO, Dave & Buster’s is run by a team of high-level executives responsible for different areas of the business. Some key positions include:
- Chief Financial Officer (CFO) – Manages budgeting, revenue growth, and investor relations.
- Chief Operating Officer (COO) – Oversees restaurant and gaming operations across all locations.
- Chief Marketing Officer (CMO) – Leads branding, advertising, and customer engagement strategies.
- Chief Technology Officer (CTO) – Develops digital gaming experiences and technological innovations.
How Decision-Making Works
Dave & Buster’s follows a top-down decision-making structure, where strategic decisions are made at the executive and board levels before being implemented at individual locations. The Board and investors provide oversight, while the CEO and executive team handle execution.
This governance model ensures that the company remains financially strong, operationally efficient, and aligned with market trends, helping Dave & Buster’s maintain its position as a leader in the restaurant-entertainment industry.
Market Share and Competitors
Dave & Buster’s is a leading player in the entertainment-dining industry, operating over 170 locations across the U.S. and Canada. The company’s market share is largely driven by its ability to combine dining, arcade games, and sports bar experiences into a single venue.
The entertainment-restaurant sector is highly competitive, with several brands offering similar experiences. While Dave & Buster’s targets adults and young professionals, some competitors cater more to families, children, or sports enthusiasts. Below is a detailed breakdown of its key competitors.
Main Event Entertainment
Main Event Entertainment is one of Dave & Buster’s biggest rivals in the arcade and entertainment space. It operates family-focused entertainment centers that include bowling, laser tag, arcade games, and dining. Unlike Dave & Buster’s, which primarily attracts adults and corporate groups, Main Event focuses on families with children.
In June 2022, Dave & Buster’s acquired Main Event for $835 million, bringing both brands under the same corporate umbrella. Despite the acquisition, Main Event continues to operate under its own brand, allowing Dave & Buster’s to capture a broader market share by appealing to both adults and family audiences.
Chuck E. Cheese
Chuck E. Cheese is a direct competitor in the family entertainment segment. It operates kid-friendly arcades and restaurants featuring pizza, ticket redemption games, and play areas. While Chuck E. Cheese primarily targets young children and families, there is some market overlap with Dave & Buster’s, particularly in the arcade gaming space.
Unlike Dave & Buster’s, which offers a full-service bar and adult-focused entertainment, Chuck E. Cheese maintains a child-friendly atmosphere. However, it has faced financial struggles in recent years, including a bankruptcy filing in 2020. Dave & Buster’s has been able to capture some of Chuck E. Cheese’s older demographic by offering a more sophisticated entertainment experience.
Topgolf
Topgolf is a major competitor in the sports entertainment industry, offering golf simulation games, food, drinks, and social experiences. While Topgolf and Dave & Buster’s are different in their core offerings, both brands compete for the same target audience—adults looking for interactive social entertainment.
Topgolf’s venues attract sports enthusiasts and corporate groups, making it a strong alternative to Dave & Buster’s, especially for customers interested in competitive and skill-based games. In recent years, Topgolf has expanded aggressively, increasing its presence in urban and suburban areas.
Round1 Bowling & Amusement
Round1 Bowling & Amusement is a Japanese entertainment chain that has expanded in the U.S. It offers a mix of bowling, arcade games, karaoke, and billiards, catering to a broad audience. Its arcade selection includes a variety of Japanese-exclusive games, which gives it a competitive edge among gaming enthusiasts.
Compared to Dave & Buster’s, Round1 appeals more to young adults and gaming fans, rather than the corporate or casual dining crowd. However, as it continues expanding, it poses a growing threat to Dave & Buster’s dominance in the arcade-entertainment sector.
Bowlero
Bowlero is another competitor in the bowling and entertainment segment. The company owns multiple bowling brands, including AMF Bowling and Bowlmor Lanes, and has been expanding its arcade and bar offerings. While its primary focus remains on bowling, Bowlero competes with Dave & Buster’s for social and group entertainment experiences.
Bowlero has been expanding aggressively by acquiring bowling centers and upgrading them with modern entertainment elements, including full-service bars and arcade-style games. This strategy puts it in direct competition with Dave & Buster’s for casual group outings and corporate events.
Final Words
Dave & Buster’s has solidified its reputation as a leader in the entertainment-dining industry. With a diverse ownership structure and strategic leadership, the company continues to adapt and grow in a competitive market. Its acquisition of Main Event Entertainment showcases its commitment to broadening its appeal and offerings.
FAQs
Who founded Dave & Buster’s?
Dave & Buster’s was founded by David “Dave” Corriveau and James “Buster” Corley in 1982 in Dallas, Texas.
When did Dave & Buster’s go public?
Dave & Buster’s went public in October 2014, trading under the ticker symbol PLAY on the NASDAQ stock exchange.
What is the primary business model of Dave & Buster’s?
Dave & Buster’s combines dining with entertainment, offering a unique experience of food and games under one roof.
How many locations does Dave & Buster’s have?
As of 2023, Dave & Buster’s operates over 170 locations across the United States.
Who is the current CEO of Dave & Buster’s?
As of December 2024, Kevin M. Sheehan serves as the Interim Chief Executive Officer of Dave & Buster’s.
Who is Dave & Buster’s named after?
Dave & Buster’s is named after its two original founders, David “Dave” Corriveau and James “Buster” Corley. They combined their expertise in arcade gaming and restaurant management to create a unique entertainment venue that blended food, drinks, and games under one roof.
How did Dave & Buster’s get its name?
The name “Dave & Buster’s” came from the founders’ previous businesses. Buster Corley owned a successful restaurant in Dallas, Texas, while Dave Corriveau ran an arcade business nearby. Customers often visited both establishments, which inspired them to merge their businesses into one venue. Since a coin toss determined the name order, “Dave” came before “Buster,” leading to Dave & Buster’s.
Are Dave and Buster real people?
Yes, Dave Corriveau and Buster Corley were real people who founded Dave & Buster’s in 1982. Both were entrepreneurs who saw an opportunity to create a unique dining and gaming experience. Dave Corriveau passed away in 2015, while Buster Corley passed away in 2023, but their legacy continues through the brand they built.
