This is a great opportunity in this turbulent economy to take the wheel of a nationally recognized brand and aggressively improve the existing guest experience.
Las Vegas, NV (PRWEB) June 01, 2011
GameWorks Entertainment, LLC (GWE), today announced that they have acquired all stock of Sega GameWorks U.S.A., Inc. from Sega Holdings U.S.A., Inc., thereby acquiring all current GameWorks locations, including Ontario, CA, Tempe, AZ, Seattle, WA, Schaumburg, IL, Newport, KY, and in GWE’s home base, Las Vegas, NV. GameWorks also operates a sports bar and restaurant known as World Sports Grille, in Tucson, AZ.
GameWorks, a chain of entertainment venues featuring arcades, simulators, prizes, and full service bars and restaurants, was originally established in 1997 as a joint venture between Sega, Universal Studios, and DreamWorks SKG. With the acquisition by GWE, there will be a phased implementation to revitalize the current GameWorks locations. GWE plans to continue GameWorks’ established entertainment venue while exploring innovative new offerings to enhance all customer food and gaming experiences. The GWE management team brings a new and somewhat different level of experience, excitement, and creativity to this well-known operation with an eye on building a premier, highly profitable entertainment chain.
Having helped create and roll out new concepts from Chuck E. Cheese to ESPNZone to Universal Studios theme parks, the GWE management team has over 30 years in the industry with an extensive track record of restructured operations at Malibu Grand Prix, Raging Waters, Discovery Zone and others. The team’s background also includes Disney, MGM Resorts and others.
“We are truly excited to be assuming the reins at GameWorks,” said Steven Dooner, president and chief executive officer of GWE. “This is a great opportunity in this turbulent economy to take the wheel of a nationally recognized brand and aggressively improve the existing guest experience.”
“By making acquisitions such as GameWorks, we’re able to build market value, provide positive cash flow, and begin developing strong ingredient brands,” said Dooner. “This effort now gets a very recognizable brand into our portfolio and we can pay attention to improving these operations and create an even better experience for our employees and guests,” Dooner said.
Mosaic Capital, LLC served as Financial Advisor in the transaction.
About GameWorks Entertainment
GameWorks Entertainment LLC (GWE) was formed to acquire and operate the GameWorks locations in six states. Offices for GameWorks Entertainment are in Las Vegas, Nevada.