Dave & Buster's nominates two new board members as three current members step down before the annual meeting.
Quiver AI Summary
Dave & Buster's Entertainment, Inc. announced the nomination of Allen R. Weiss and Nathaniel J. Lipman for election to its Board of Directors, as three current members—Michael Griffith, Gail Mandel, and Jennifer Storms—will not seek reelection at the upcoming annual meeting on June 20, 2025. Board Chair and Interim CEO Kevin Sheehan expressed confidence in the nominees' industry expertise and potential to create value for the company. Weiss has previously served in high-level roles within Walt Disney Parks and Resorts, while Lipman has extensive board experience and a background in legal and financial sectors within the travel and entertainment industries. Dave & Buster's operates 233 venues offering entertainment and dining experiences across North America.
Potential Positives
- The nomination of two experienced independent directors, Allen R. Weiss and Nathaniel J. Lipman, indicates a strategic move to enhance the board's expertise at a pivotal time for the company.
- Both nominees have extensive backgrounds in the entertainment and hospitality industries, which could provide valuable insights and guidance to Dave & Buster's operations and strategic direction.
- The transition in board membership includes acknowledgment of the contributions of existing board members, demonstrating a commitment to maintaining strong leadership and governance practices.
Potential Negatives
- Three existing Board members are not standing for reelection, which may indicate potential instability or dissatisfaction within the Board.
- The announcement of new nominations may raise concerns among investors about the direction of corporate governance and leadership transition.
- The reliance on new independent directors at a "pivotal time" suggests that the company may be facing challenges that require significant change in strategy or oversight.
FAQ
Who are the new Board nominees for Dave & Buster's?
The new nominees are Allen R. Weiss and Nathaniel J. Lipman for the Board of Directors.
When will the 2025 annual meeting of shareholders occur?
The annual meeting of shareholders is scheduled for June 20, 2025.
Why are current Board members not standing for reelection?
Michael Griffith, Gail Mandel, and Jennifer Storms have chosen not to stand for reelection.
What experience do Allen R. Weiss and Nathaniel J. Lipman bring?
Both nominees bring significant industry expertise and extensive backgrounds in finance and operations.
What does Dave & Buster's offer at its venues?
Dave & Buster's offers dining, entertainment attractions, arcade games, and live sports viewing experiences.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$PLAY Insider Trading Activity
$PLAY insiders have traded $PLAY stock on the open market 6 times in the past 6 months. Of those trades, 5 have been purchases and 1 have been sales.
Here’s a breakdown of recent trading of $PLAY stock by insiders over the last 6 months:
- KEVIN M SHEEHAN (Interim CEO) has made 2 purchases buying 56,760 shares for an estimated $1,464,503 and 0 sales.
- MICHAEL J GRIFFITH purchased 18,000 shares for an estimated $491,058
- HAMISH DODDS purchased 10,000 shares for an estimated $273,100
- JOHN MULLEADY (SVP, RE & Dev) sold 6,000 shares for an estimated $175,980
- ANTONIO PINEIRO (SVP, Chief Int'l Dev Ofc) purchased 1,000 shares for an estimated $27,350
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$PLAY Hedge Fund Activity
We have seen 93 institutional investors add shares of $PLAY stock to their portfolio, and 123 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- CLEARLINE CAPITAL LP added 1,084,890 shares (+1768.8%) to their portfolio in Q4 2024, for an estimated $31,667,939
- AMERICAN CENTURY COMPANIES INC removed 933,566 shares (-57.3%) from their portfolio in Q4 2024, for an estimated $27,250,791
- OPHIR ASSET MANAGEMENT PTY LTD added 811,351 shares (+inf%) to their portfolio in Q4 2024, for an estimated $23,683,335
- UBS GROUP AG added 731,012 shares (+4982.4%) to their portfolio in Q4 2024, for an estimated $21,338,240
- PRUDENTIAL FINANCIAL INC removed 726,050 shares (-83.9%) from their portfolio in Q4 2024, for an estimated $21,193,399
- JPMORGAN CHASE & CO removed 691,602 shares (-94.2%) from their portfolio in Q4 2024, for an estimated $20,187,862
- MILLENNIUM MANAGEMENT LLC removed 564,514 shares (-90.8%) from their portfolio in Q4 2024, for an estimated $16,478,163
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
DALLAS, May 02, 2025 (GLOBE NEWSWIRE) -- Dave & Buster's Entertainment, Inc., (NASDAQ: PLAY), ("Dave & Buster's" or "the Company") today announced that it will nominate Allen R. Weiss and Nathaniel J. Lipman for election to its Board of Directors. Existing Board members, Michael Griffith, Gail Mandel, and Jennifer Storms have notified the Company that they will not stand for reelection at the Company’s 2025 annual meeting of shareholders, to be held on June 20, 2025.
“On behalf of the Board, we are pleased to announce the nominations of Al and Nat as independent directors. They each bring a tremendous amount of industry expertise and long track records of value creation to our boardroom at a pivotal time for our Company,” said Kevin Sheehan, Board Chair and Interim Chief Executive Officer. “We would like to thank Mike, Gail, and Jenny for their significant service and contributions during their respective tenures on the Board and wish them the very best in their future endeavors.”
About Allen R. Weiss
Mr. Weiss serves on the board of Alticor, Inc. and has served on the boards of Dick’s Sporting Goods, CEC Entertainment, Inc. (n/k/a CEC Entertainment, LLC), ClubCorp (n/k/a Invited Clubs), Diamond Resorts International, Inc. and Pilot Travel Centers LLC. Mr. Weiss is the former president of worldwide operations for Walt Disney Parks and Resorts, a $10+ billion business with 95,000 employees. As president, Mr. Weiss managed operations at the company’s theme parks and resorts, including the Walt Disney World Resort, Disneyland Resort, Disneyland Resort Paris, Disney Cruise Line, Disney Vacation Club and “Adventures by Disney.” He also spent more than 20 years in various executive positions in finance, marketing and sales, entertainment and operations. Mr. Weiss earned a Master's in Business Administration from the Crummer Graduate School of Business at Rollins College and a Bachelor of Science in Business Administration from the University of Central Florida.
About Nathaniel (Nat) J. Lipman
Mr. Lipman has significant experience serving as a director of both public and private companies, including active service as a board member of United Parks & Resorts Inc., Trusted Media Brands, Inc., and Apollo Aligned Alternatives, Inc., and prior service on the boards of directors of Tenerity, Inc. (f/k/a Affinion Group Holdings, Inc. and CX Loyalty Holdings, Inc.), Diamond Resorts International, Inc., and Redbox Automated Holdings, LLC. Most recently, Mr. Lipman was Senior Advisor to Tenerity, Inc. and prior to that, he held various legal and finance roles with significant experience in the travel and entertainment industry, including roles with Planet Hollywood, Inc., House of Blues Entertainment, Inc., and The Walt Disney Company. Mr. Lipman earned a Juris Doctor degree from the University of California, Los Angeles and a Bachelor of Arts in Political Economy from the University of California, Berkeley.
About Dave & Buster’s Entertainment, Inc.
Founded in 1982 and headquartered in Coppell, Texas, Dave & Buster's Entertainment, Inc., is the owner and operator of 233 venues in North America that offer premier entertainment and dining experiences to guests through two distinct brands: Dave & Buster’s and Main Event. The Company has 172 Dave & Buster’s branded stores in 43 states, Puerto Rico, and Canada and offers guests the opportunity to "Eat Drink Play and Watch," all in one location. Each store offers a full menu of entrées and appetizers, a complete selection of alcoholic and non-alcoholic beverages, and an extensive assortment of entertainment attractions centered around playing games and watching live sports and other televised events. The Company also operates 61 Main Event branded stores in 22 states across the country, and offers state-of-the-art bowling, laser tag, hundreds of arcade games and virtual reality, making it the perfect place for families to connect and make memories. For more information about each brand, visit daveandbusters.com and mainevent.com.
For Investor Relations Inquiries:
Cory Hatton, Head of Entertainment Finance, Investor Relations & Treasurer
Dave & Buster’s Entertainment, Inc.
[email protected]
