Dave & Buster's appointed Scott Ross to its Board of Directors, enhancing leadership with his investment expertise.
Quiver AI Summary
Dave & Buster's Entertainment, Inc. announced the appointment of Scott Ross as a new member of its Board of Directors, effective January 30, 2025. Ross, managing partner at Hill Path Capital, is recognized for his experience in the consumer and entertainment sectors, bringing valuable financial insights and a significant shareholder perspective to the board. He expressed enthusiasm about contributing to the company’s growth and increasing shareholder value, highlighting Dave & Buster's status as a strong brand with substantial potential. Ross has a distinguished background, having previously worked at Apollo Management and Goldman Sachs, and he currently holds leadership roles in other prominent companies within the hospitality and entertainment industries.
Potential Positives
- Appointment of Scott Ross to the Board of Directors brings significant financial expertise and a proven track record in enhancing stakeholder value.
- Scott Ross expresses confidence in the company’s strategic plan to drive substantial revenue growth and shareholder value.
- Ross's extensive experience in consumer and entertainment sectors may lead to valuable insights that could benefit the company's operations and strategy.
Potential Negatives
- The announcement of a new board member might indicate a lack of stability or confidence in the current leadership, as the company is seeking external guidance to enhance its strategic direction.
- The description of Scott Ross's role and expertise may inadvertently highlight a perceived need for “substantial value for all stakeholders,” which could suggest current performance is lacking.
- The press release does not provide any concrete details about the specific strategies or actions that will be implemented to improve the company's performance, leaving investors without a clear understanding of the company's path forward.
FAQ
Who has been appointed to Dave & Buster's Board of Directors?
Scott Ross, Managing Partner of Hill Path Capital, has been appointed to the Board of Directors.
When did Scott Ross join the Board of Directors?
Scott Ross joined the Board of Directors on January 30, 2025.
What is Scott Ross's background?
Scott Ross has extensive experience in private equity, consumer, and entertainment investments, previously working at Apollo Management and Goldman Sachs.
What are Dave & Buster's core offerings?
Dave & Buster's offers dining, entertainment attractions, and the opportunity to watch live sports in a single location.
How many Dave & Buster's locations are there?
There are 171 Dave & Buster's locations in 43 states, Puerto Rico, and Canada.
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 9 times in the past 6 months. Of those trades, 6 have been purchases and 3 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.
- STEVE KLOHN (SVP Chief Information Officer) has made 0 purchases and 2 sales selling 17,512 shares for an estimated $545,207.
- CHRISTOPHER DANIEL MORRIS (Chief Executive Officer) purchased 14,912 shares for an estimated $502,161
- 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 90 institutional investors add shares of $PLAY stock to their portfolio, and 134 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- WOLF HILL CAPITAL MANAGEMENT, LP removed 1,472,226 shares (-93.5%) from their portfolio in Q3 2024, for an estimated $50,129,295
- PATIENT CAPITAL MANAGEMENT, LLC added 1,300,598 shares (+inf%) to their portfolio in Q3 2024, for an estimated $44,285,361
- RUBRIC CAPITAL MANAGEMENT LP removed 1,225,000 shares (-100.0%) from their portfolio in Q3 2024, for an estimated $41,711,250
- GOLDMAN SACHS GROUP INC added 899,128 shares (+233.2%) to their portfolio in Q3 2024, for an estimated $30,615,308
- PRUDENTIAL FINANCIAL INC added 713,930 shares (+470.6%) to their portfolio in Q3 2024, for an estimated $24,309,316
- BARROW HANLEY MEWHINNEY & STRAUSS LLC added 628,276 shares (+79.2%) to their portfolio in Q3 2024, for an estimated $21,392,797
- MARSHALL WACE, LLP removed 592,469 shares (-92.6%) from their portfolio in Q3 2024, for an estimated $20,173,569
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
DALLAS, Feb. 03, 2025 (GLOBE NEWSWIRE) -- Dave & Buster's Entertainment, Inc., (NASDAQ: PLAY), ("Dave & Buster's" or "the Company") today announced the appointment of Scott Ross, Managing Partner of Hill Path Capital, to the Company’s Board of Directors, effective January 30, 2025.
“On behalf of the Board, we are pleased to welcome Scott to our team,” said Kevin Sheehan, Board Chair and Interim Chief Executive Officer. “Scott has a proven track record of working closely with management teams and boards to help create substantial value for all stakeholders. He brings valuable insights and capabilities given his financial background, his extensive experience investing in and overseeing consumer and entertainment businesses and his perspective as a significant shareholder of Dave & Buster’s.”
“Dave & Buster’s is a high-quality business and an iconic brand with a huge fan base and tremendous and obvious near and long-term upside,” said Scott Ross. “I am excited to work with Kevin, the rest of the Board and the management team to help drive meaningful growth and value for all stakeholders. The Company clearly has the right strategic plan that I am confident will lead to significant increases in revenue, cash flow and shareholder value.”
About Scott Ross
Mr. Ross is the Founder and Managing Partner of Hill Path Capital. Mr. Ross was previously a Partner at Apollo Management where he focused on private equity and debt investments in the lodging, leisure, entertainment, consumer and business services sectors. Prior to Apollo, Mr. Ross worked at Goldman, Sachs & Co. and was a member of the Principal Investment Area in the Merchant Banking Division and of the Principal Finance Group in the Fixed Income, Currencies, and Commodities Division. Mr. Ross currently serves as the Chairman of the Board of Directors of United Parks & Resorts, Inc. (the parent company of SeaWorld, Busch Gardens, Discovery Cove, and Sesame Place) and as a Director on the Board of Directors of The ONE Group Hospitality, Inc. (the parent company of STK, Benihana, and other restaurant brands). Mr. Ross has previously served on the Board of Directors of Diamond Eagle Acquisition Corp., Great Wolf Resorts, Inc., EVERTEC, Inc. and CEC Entertainment, Inc. (the parent company of Chuck E. Cheese’s and Peter Piper Pizza). Mr. Ross graduated magna cum laude from Georgetown University with a B.A. degree in Economics and was elected to Phi Beta Kappa.
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 232 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 171 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, VP Investor Relations & Treasurer
Dave & Buster’s Entertainment, Inc.
[email protected]