Dave & Buster's acquires Main Event for $835M; Chris Morris to become CEO

Dave & Buster's Entertainment, Inc.

All-cash deal valued at $835M enterprise value; represents ~9x Main Event's TTM Adjusted EBITDA as of Dec 31, 2021.
Chris Morris, current Main Event CEO, appointed CEO of Dave & Buster's upon close; Kevin Sheehan to remain Chairman.
Expected ~$20M in synergies within two years from store support consolidation and supply-chain efficiencies.
Transaction funded via cash on hand and committed bank financing (Term Loan B of $850M + Revolver of up to $500M).
Acquisition unanimously approved by both boards; closing subject to Ardent Leisure stockholder approval and regulatory review.

item 1.01 item 5.02 item 7.01 item 9.01

Executive movements

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Appointed

Christopher Morris

Chief Executive Officer

PLAY · Dave & Buster's Entertainment, Inc.

Filed: April 6, 2022, 7:59 PM ET

the Company announced that the Board will appoint Christopher Morris as Chief Executive Officer of the Company and as a member of the Board, effective at the closing of the Transactions.

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.95

Christopher Morris was appointed as Chief Executive Officer at Dave & Buster's Entertainment, Inc..

Action: appointed
Role: Chief Executive Officer

Exact text from the filing

the Company announced that the Board will appoint Christopher Morris as Chief Executive Officer of the Company and as a member of the Board, effective at the closing of the Transactions.

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Dave & Buster's Entertainment, Inc. filing history →

Source: SEC EDGAR

accession 0001104659-22-042998

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