Dave & Buster’s is acquiring family entertainment company Main Event, which is owned by Ardent Leisure, in an all-cash deal valued at $835m.
Once the deal closes, which is expected later this year, Main Event CEO Chris Morris will be named CEO of Dave & Buster’s. Morris joined Main Event in 2018 and has since expanded it by more than 30 percent.
Founded in 1998, Dallas-based Main Event operates 50 locations in 17 states across the US. Its FECs offer state-of-the-art bowling, laser tag, arcade games and virtual reality (VR).
Main Event will continue to operate as a distinct brand under Dave & Buster’s. It is one of the fastest-growing family entertainment companies in the US.
“We are thrilled to join the Dave & Buster’s family,” Morris said. “We will undoubtedly benefit from the collective expertise and strong culture of both brands, particularly as we continue to accelerate Main Event’s aggressive expansion plans.”
“I’m looking forward to enhancing the offerings and experiences of each brand and providing even more opportunity for our team members,” he added.
“Main Event is a perfect complement to Dave & Buster’s, and I feel very honored to lead the growth of both brands.”
Ardent Leisure selling US entertainment business
Dave & Buster’s, founded in 1982 and headquartered in Coppell, is the owner and operator of 145 locations in North America. Dave & Buster’s FECs offer combine entertainment and dining.
“Chris is a proven and successful transformational leader who is capable of taking the combined organization to the next level,” said Kevin Sheehan, Dave & Buster’s board chair and interim CEO.
“It is clear Main Event has a strong culture that shares many values in common with our own,” he added. “We very much look forward to joining these two great teams together.”
Ardent Leisure is one of Australia’s most successful leisure and entertainment groups. In addition to Main Event, it owns Dreamworld, WhiteWater World and SkyPoint on the Gold Coast in Queensland.
“Ardent Leisure has partnered with the Main Event brand since 2006 as the company has grown from its Dallas foundations to 50 locations nationwide today,” said Gary Weiss, chairman of Ardent Leisure.
“We are particularly proud of our significant involvement in the rejuvenation of Main Event over the last four years and this transaction reflects the culmination of significant value creation that has been achieved by Ardent Leisure and the Main Event management team over this time.”
Images: Ardent Leisure
