Hotels, Restaurants and Leisure
Company Overview of Dave & Buster's Inc.
Dave & Buster’s, Inc. owns, operates, and licenses dining and entertainment venues for adults and families in North America. It provides a menu of casual dining food items, and a selection of non-alcoholic and alcoholic beverage items with an assortment of entertainment attractions, including screen televisions and audio systems, live sports and other televised events, skill and sports-oriented redemption games, video games, interactive simulators, and other traditional games. The company serves men and women aged 21 to 39, and families with children and teenagers. As of May 01, 2014, it had 68 dining and entertainment venues. The company was founded in 1982 and is headquartered in Dallas, T...
2481 Mañana Drive
Dallas, TX 75220
Founded in 1982
Key Executives for Dave & Buster's Inc.
Chief Executive Officer and Director
President and Chief Operating Officer
Chief Financial Officer and Senior Vice President
Senior Vice President of Real Estate & Development
Senior Vice President of Entertainment & Game Strategy
Compensation as of Fiscal Year 2015.
Dave & Buster's Inc. Key Developments
Maria De Lourdes Parra Marin Files Lawsuit against Dave & Buster's Inc. for Violating Employee Retirement Income Security Act
Jun 15 15
An employee of Dave & Buster's Inc. in New York City has filed a lawsuit claiming the company violated the Employee Retirement Income Security Act (ERISA) Section 510 interference of benefits provisions when it reduced full-time employees' hours following passage of the Patient Protection and Affordable Care Act (ACA). Maria De Lourdes Parra Marin filed the suit on behalf of herself and all other Dave & Buster's employees in the U.S. whose hours were involuntarily reduced by Dave & Buster's from June 1, 2013, to the present and whose reduction in hours resulted in either the loss of coverage under the company's health plan or a reduction to inferior coverage. According to the complaint, Marin's hours were reduced from 30 to 45 hours per week to 10 to 25 hours per week. The lawsuit alleges that, at a meeting attended by Marin, a general manager of Dave & Buster's stated that the ACA's provisions would cost the company as much as $2 million and to avoid that cost, it planned to reduce the number of full-time employees at Marin's store. The lawsuit assumes that similar meetings were held by Dave & Buster's across the country. The lawsuit asks the court to reinstate employees to their full-time positions and restore their rights as participants in Dave & Buster's health plan. It also asks for an award to plaintiffs to make them whole for the loss of wages and benefits, with interest, from the date of reduction in their hours.
Dave & Buster's Reportedly Mulls IPO
Sep 5 14
Dave & Buster's Inc., owned by Oak Hill Capital Partners is preparing to file for an initial public offering as soon as next week, Reuters reported citing people familiar with the matter. Jefferies LLC and Piper Jaffray Companies (NYSE:PJC) are undestood to be mandated by Dave & Buster's Inc. for the sale process. A spokeswoman for Oak Hill Capital Partners declined to comment. Representatives for Dave & Buster's Inc., Jefferies LLC and Piper Jaffray Companies could not be immediately reached for comment.
Dave & Buster's, Inc. Completes Refinancing of Outstanding Indebtedness
Jul 25 14
Dave & Buster's Inc. announced that it has closed a $50 million revolving credit facility and $530 million senior secured first lien Term Loan B. The facilities are senior secured obligations of Dave & Buster's Holdings Inc. and will be guaranteed by its material subsidiaries. The proceeds of this transaction were used to refinance in whole the existing senior secured credit facility (of which $144 million was outstanding as of May 4, 2014), repay $200 million aggregate principal amount of the 11.0% senior notes due June 1, 2018, repay all outstanding 12.25% senior discount notes issued by Dave & Buster's Entertainment Inc. due February 15, 2016 ($146.2 million accreted as of May 4, 2014) and pay related premiums, interest and expenses. Based on current market conditions, the refinancing represents a 490 basis point reduction in interest costs and is estimated to reduce annual cash and accrued interest expense by approximately $22 million per year. Jefferies & Company Inc. and Goldman, Sachs & Co. served as Joint Lead Arrangers and Joint Bookrunners for the transaction.
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