Who Owns Dave & Buster’s? The 2026 Ownership Guide
If you are looking for a single name or a mysterious billionaire behind the scenes, you might be surprised. Dave & Buster’s Entertainment, Inc. is a publicly traded company. This means it isn’t owned by one person, but by thousands of shareholders who trade its stock on the NASDAQ global market under the ticker symbol PLAY.
As of January 2026, the ownership of Dave & Buster’s is dominated by large institutional investors—financial powerhouses that manage money for millions of people. Here is the quick breakdown of who holds the most “votes” in the company:
| Shareholder | Ownership Stake (Approx.) |
| Hill Path Capital LP | ~20.5% |
| BlackRock, Inc. | ~11.8% |
| The Vanguard Group | ~8.4% |
| Institutional & Insider Total | Over 91% |
While the company is public, Hill Path Capital acts as the most influential owner, holding a massive 20.5% stake. This gives them a significant voice in the boardroom and the company’s long-term strategy.
Understanding the “PLAY” Ownership Structure
To truly understand who owns Dave & Buster’s, you have to look past the ticker symbol. Unlike a small local restaurant, “eatertainment” giants operate like massive machines.
The fact that over 91% of shares are held by institutional owners is a big deal. It tells us that professional Wall Street analysts and fund managers see Dave & Buster’s as a core part of the American entertainment landscape.
Firms like BlackRock and Vanguard don’t just “own” it; they hold it within index funds and retirement portfolios, meaning if you have a 401(k), there’s a decent chance you own a tiny sliver of Dave & Buster’s yourself.
However, the “lead” in this story is Hill Path Capital. Led by Scott Ross, this firm has been a major driver behind the company’s recent aggressive moves, including the push for store remodels and the acquisition of family-friendly competitors.
The Leadership “Dream Team” and a Legacy Born from a Coin Toss
While Wall Street firms own the shares, the actual direction of the company is steered by a specialized leadership team. In 2026, Dave & Buster’s is in the midst of a significant “identity evolution,” moving from a traditional arcade bar to a global entertainment powerhouse.
The Leadership Team: Who Runs Dave & Buster’s?
As of early 2026, the captain of the ship is Tarun Lal, who took over as CEO in July 2025. Lal didn’t come from the arcade world; he came from the high-stakes world of global food operations.
- The “KFC” Factor: Before joining Dave & Buster’s, Tarun Lal was the President of KFC U.S. and a veteran executive at Yum! Brands. His appointment was a strategic signal to investors: the company wants to master operational efficiency and international growth.
- Chairman of the Board: Kevin Sheehan remains a pivotal figure, serving as the Chair of the Board. Sheehan, who previously served as interim CEO before Lal’s appointment, provides the seasoned oversight needed to balance aggressive expansion with financial stability.
- The Main Event Integration: Since the $835 million acquisition of Main Event in 2022, the leadership has focused on a “two-brand” strategy. Tony Wehner serves as the President of Main Event (as of January 2026), ensuring that the family-centric vibe of Main Event complements the adult-focused energy of Dave & Buster’s.
A Legacy Built on a Coin Toss: The Founding History
The story of “who owns” Dave & Buster’s would be incomplete without the two men whose names are on the front of every building. The company’s origin is a classic piece of Americana—a story of two neighbors in Little Rock, Arkansas, in the late 1970s.
- The Synergy: David “Dave” Corriveau owned an entertainment parlor called Slick Willy’s, while James “Buster” Corley ran a restaurant called Buster’s right next door.
- The Observation: They noticed something funny: customers would eat at Buster’s and then walk next door to play games at Dave’s. They realized that if they put the two together under one roof, they’d have a goldmine.
- The $3 Million Gamble: In 1982, they moved to Dallas, Texas, and opened the very first Dave & Buster’s in a massive 35,000-square-foot warehouse.
- The Name: Why is it “Dave & Buster’s” and not “Buster & Dave’s”? It literally came down to a coin toss. Dave won the toss, his name went first, and the rest is history.
Tragically, both founders have since passed away—Dave Corriveau in 2015 and Buster Corley in 2023. While they no longer “own” the company in a legal sense, their philosophy of “Eat, Drink, Play” remains the foundation of the brand’s multi-billion-dollar valuation.
Ownership Evolution & The 2026 Strategic Outlook
Major Shifts: How Ownership Evolved (1989–2026)
Dave & Buster’s hasn’t always been the public giant it is today. Its ownership has passed through several distinct phases:
- The Edison Brothers Era (1989): To fund their massive dreams, the founders sold a majority stake to Edison Brothers Stores. This provided the capital to take the brand national.
- The First IPO (1995): The company first went public in the mid-90s after being spun off from Edison Brothers.
- The Private Equity “Ping-Pong” (2006–2014): For nearly a decade, the company was bought and sold by private equity firms, including Wellspring Capital and Oak Hill Capital Partners. This is a common phase for large brands looking to “restructure” and “refine” their business models.
- The “PLAY” Era (2014–Present): Dave & Buster’s returned to the public market in October 2014, raising $94 million and cementing its status as a staple of the NASDAQ.
Recent Share Buybacks & Financial Health
In 2025 and moving into 2026, the company has been aggressively buying back its own stock. Under the direction of the Board and CEO Tarun Lal, a $500 million repurchase program was authorized.
Why does this matter for ownership? When a company buys back its shares, it reduces the total number of shares available on the open market. This makes the remaining shares more valuable and concentrates ownership.
For institutional leaders like Hill Path Capital, these buybacks often increase their percentage of control without them having to spend an extra dime. It is a clear signal that the current “owners” believe the company is undervalued and have high confidence in the 2026 growth plan.
FAQs About Dave & Buster’s Ownership
Q1.Is Dave & Buster’s owned by Disney?
No. While there have been rumors over the years due to leadership connections (like former board nominee Allen Weiss, who was a Disney executive), Dave & Buster’s is an independent, publicly traded corporation.
Q2.Can I own a piece of the company?
Absolutely. Anyone with a brokerage account can buy shares of PLAY on the NASDAQ. As a shareholder, you are technically a partial owner.
Q3.Is the company still private?
No. It has been public since its second IPO in 2014.
Conclusion: The Future of the Entertainment Empire
“Who owns Dave & Buster’s?” is a question with a moving answer. Today, it is owned by a mix of massive investment firms, dedicated employees, and everyday retail investors. But more importantly, the company is led by a new generation of executives who are transforming the “Eat, Drink, Play” motto for a digital age.
With over 230 locations across North America, a growing footprint in international markets like India and the Philippines, and the successful integration of Main Event, Dave & Buster’s enters 2026 as a dominant force. Whether you’re a shareholder looking at your portfolio or a gamer looking for a high-score, the “PLAY” era of ownership is stronger than ever.