Dave & Buster’s To Buy Main Event, What Does This Mean For Lubbock?
Huge news in the family entertainment business that could impact Lubbock.
Dave & Buster's Entertainment Inc. has reportedly announced that the company will purchase Main Event for $835 million. When the deal closes later this year, the CEO of Main Event will take over as the CEO for Dave & Buster's.
Dave & Buster's is based in Dallas, Texas. Unlike other establishments like it, Dave & Buster's was able to survive the pandemic and actually made a profit in 2021.
Why is Dave & Buster's buying out Main Event and what does it mean for Lubbock?
As you already know, Lubbock is already home to a Main Event location. In September, it was reported that Dave & Buster's had purchased land to build a location that would be located off the West Loop 289 in the West End Shopping Center.
According to the Wall Street Journal, Main Event's focus on families with children will compliment Dave & Buster's focus on young adults. That also means that there would be separate venues for the two.
From a Dave & Buster's press release about the news:
Main Event, which owns about 50 locations that offer bowling, laser tag, arcade games and virtual reality experiences across the U.S., is owned by Australian leisure company Ardent Leisure Group Ltd. and investment firm RedBird Capital Partners.
Dave & Buster’s Chairman and interim CEO Kevin Sheehan said Main Event’s focus on families with young children will complement Dave & Buster’s main demographic of young adults. Mr. Sheehan said the deal will allow both businesses to better differentiate their offerings to their core demographics.
The two brands will continue to operate separately after the deal closes, the companies said.
So as of now, it appears as though Lubbock's Dave & Buster's is still in the works for the West End Shopping Center, while Main Event will stay where they're currently located.