The Untold Story: How Two Friends Became Owners of Dave & Busters

David Corriveau and James "Buster" Corley, Dave and Buster's founders, first crossed paths in 1978 in Little Rock, Arkansas. Their businesses sat right next to each other before they decided to join forces. The duo ended up opening their first 40,000-square-foot venue in Dallas in 1982, which grew into a successful chain of more than 150 locations throughout North America.

The Real Founders Behind Dave & Buster’s

Dave & Buster's name stands for adult entertainment venues across North America. The story of its founders shows a fascinating partnership between two entrepreneurs who brought different skills and personalities to the table.

Who founded Dave and Buster's?

Two unlikely partners changed the entertainment world forever. David "Dave" Corriveau and James "Buster" Corley were the visionaries who started what grew into an entertainment empire. These two first met in 1978 as they ran neighboring businesses in Little Rock, Arkansas.

Dave ran "Cash McCool's," which specialized in adult-oriented entertainment with games and activities. Buster owned "Buster's," a restaurant and bar that drew similar customers. Each business did well on its own, but their location created something special—customers naturally moved between both places, grabbing food at Buster's and playing games at Dave's, or the other way around.

Their partnership worked because they each brought something different. Dave knew everything about entertainment and games. He could tell which games would get people excited and how to create a fun atmosphere. Buster was great with food and making people feel welcome. His restaurant background gave him a deep understanding of good menus and customer service.

Their business relationship grew naturally as they saw their customers going back and forth between their venues. Rather than competing, they recognized an opportunity to join forces and create something new—a place that brought good food and adult entertainment together under one roof.

Early lives of David Corriveau and James Corley

Both founders lived interesting lives before they became pioneers in the "eatertainment" industry. These experiences shaped them into smart business owners with an eye for opportunity.

David Corriveau was born in New Hampshire and started nowhere near the entertainment industry. He showed his business sense early through various projects. Dave ran successful nightclubs and entertainment venues, which taught him what adults wanted for fun and how social spaces worked. People knew him as someone with charm who could create places that kept people coming back.

James "Buster" Corley came from North Carolina and learned hospitality from the ground up. Before opening his own place, he worked in many restaurants and learned every part of food service and business operations. People who knew him said he paid attention to details and put customers first—skills that became crucial to Dave & Buster's success.

Their different personalities made them a great team. Dave was the outgoing, creative one—he connected with customers and staff naturally. Buster took a more careful, business-focused approach. He made sure everything ran smoothly and service stayed top-notch.

Though they worked differently, they shared a drive to succeed and weren't afraid to take smart risks. They also saw something others missed—adults wanted places where they could play, not just eat and drink.

They opened their first joint venture in Dallas in 1982. This was more than just a new business. They created a new type of entertainment that many tried to copy but few matched. Their success showed how two different views could come together and create something truly new.

From Neighboring Businesses to a Shared Vision

Little Rock, Arkansas became the birthplace of a revolutionary entertainment concept in the late 1970s. Two establishments stood next door to each other, and neither knew they would reshape the scene of modern entertainment by combining food, drinks, and games under one roof.

Cash McCool's and Buster's: Two separate ventures

David Corriveau started his first business, "Cash McCool's," when he was 24 in 1975. His saloon and game parlor quickly became popular with locals who wanted adult-oriented entertainment. The success led him to launch "Slick Willy's World of Entertainment" in 1977, which strengthened his position in the entertainment scene.

James "Buster" Corley opened "Buster's" right next door in 1978. His restaurant and bar soon built its own loyal customer base. Buster's reputation grew because of its quality food and friendly service. The place created a welcoming atmosphere that drew people from all walks of life.

Buster's became more than just a casual dining spot. Some called it "a legendary watering hole" that drew "yuppies, legislators, lobbyists and Arkansas 'bond daddies'". A local business executive described the original Buster's as a "favored haunt of politicians, bond daddies and cocaine whores". This description paints a vivid picture of its place in Little Rock's social scene.

How their customer base overlapped

Corriveau and Corley noticed something interesting about their customers' behavior. People moved back and forth between both spots throughout the evening. This wasn't just random - it happened so often that both owners took notice.

Adults who came to Cash McCool's to play games would step next door to grab food and drinks at Buster's. The same thing happened in reverse - Buster's diners would finish eating and head over to Cash McCool's for entertainment. This natural flow showed something important: people wanted good food and fun activities in one visit.

The market had plenty of restaurants and game venues, but nobody had successfully brought these experiences together for adults who wanted both.

The decision to join forces

The owners' observations led to a lightbulb moment. They wondered if combining both experiences under one roof might work better than running separate businesses.

"The two young entrepreneurs noticed people rotating between their establishments, and an idea started to form: What if they put both under one roof?". This simple question sparked their partnership.

They decided to combine their strengths. Corriveau knew entertainment and games inside out, while Corley brought his restaurant management and hospitality expertise. Their different skills created the perfect mix to start something new.

The partners made a bold move to Dallas, Texas in 1982 to launch their joint venture. They found an empty 40,000-square-foot warehouse on "Restaurant Row" that would become the first Dave & Buster's. Many people in the restaurant industry thought they were "certifiably crazy," but they stuck to their vision.

This partnership turned two small neighboring businesses in Little Rock into a nationwide entertainment phenomenon. Today, Dave & Buster's has more than 140 locations across North America.

Opening the First Dave & Buster’s in Dallas

David Corriveau and James "Buster" Corley took a leap of faith that changed the entertainment world forever. They merged their ideas and opened the first Dave & Buster's in Dallas, Texas in December 1982—a move that became the life-blood of their future success.

Why Dallas was chosen

These ambitious entrepreneurs left Little Rock and picked Dallas with a clear vision. Dallas buzzed with economic energy and had a population hungry for new entertainment. The early 1980s saw the city boom, making it perfect for their innovative concept.

Restaurant Row on Upper Greenville Avenue caught their eye. They discovered a 40,000-square-foot warehouse big enough to house both dining and entertainment. This raw industrial space needed work but gave them the perfect canvas to paint their dream.

Dallas meant a fresh beginning. The city's welcoming business climate and sophisticated crowd seemed ready for their unique "eatertainment" concept. Many industry experts called their idea too risky, but Corriveau and Corley believed in their plan and pushed forward.

The coin toss that decided the name

The sort of thing I love about Dave & Buster's story is how they picked their name. The partners needed to choose whose name would lead the brand as opening day approached.

They skipped the long meetings and went straight for a coin toss. David Corriveau won the flip, and "Dave & Buster's" was born instead of "Buster & Dave's." This simple yet clever way to decide showed how well their partnership worked.

That coin toss lives on in company stories today. It shows how these partners handled big decisions with fairness and a smile, creating one of entertainment's most recognized names.

Roles each founder played in the business

Dave & Buster's soared because its founders went together with one another. They split their duties based on what each did best.

David Corriveau brought his entertainment venue experience to lead the gaming side. He picked arcade games, billiards equipment, and attractions that adults would love. His natural feel for exciting games and knowing how to create the right vibe helped build the brand's unique identity.

James Corley ran everything food and drink. His years in restaurants helped him craft great menus and smooth service systems. Buster made sure diners enjoyed their meals as much as the games, creating one complete experience.

Their different talents balanced perfectly—Dave knew entertainment inside out, while Buster mastered hospitality. They trusted each other's expertise and never stepped on toes. This trust encouraged a partnership built on mutual respect.

This smart division of work let each founder shine in their specialty. Together, they created something new that grew across North America and inspired many others in the "eatertainment" world.

Ownership Changes and Going Public

Dave & Buster's 7-year old business model worked well, and its ownership changed hands several times. The company grew from a founder-led business into a major corporation traded on the stock market.

Sale to Edison Brothers in 1989

Corriveau and Corley faced a big decision about their company's future after running their unique "eatertainment" concept for seven years. They sold most of their stake to Edison Brothers Stores in 1989. This St. Louis retail giant ran about 2,700 stores across the country. The founders didn't want to cash out - they needed help to grow bigger.

Edison Brothers bought 80% of Dave & Buster's, while Corriveau and Corley kept the remaining 20%. This deal gave them the money they needed to expand into new markets across the United States. Dave & Buster's joined Edison Brothers' entertainment division, alongside video arcade brands Time-Out and Space Port.

Going public in 1995 and again in 2014

The business landscape changed by 1995, leading Edison Brothers to give Dave & Buster's to its shareholders. Dave & Buster's then launched its first IPO on NASDAQ under DANB, raising nearly $30 million.

Edison Brothers' former CEO Andy Newman became the chairman of the newly public company. Corriveau and Corley stayed on as co-chief executives. That year brought another milestone - Dave & Buster's signed a deal to open up to seven locations in the United Kingdom.

Oak Hill Partners bought the chain for $570 million in May 2010. Dave & Buster's went public again in October 2014, selling 5.88 million shares at $16 each. This move brought in about $94 million, which helped pay off their debt. The company's shares started trading on NASDAQ as "PLAY" on October 10, 2014.

Who owns Dave and Buster's today?

Dave & Buster's now trades as a public company on NASDAQ. The company's ownership has changed dramatically since its early days when two founders and later Edison Brothers controlled everything. Now many shareholders own pieces of the business.

Oak Hill Partners held onto 81% of the company after the 2014 IPO. Like other public companies, these ownership numbers change as shares trade hands in the market.

Anyone can become a Dave & Buster's owner today by buying shares on the stock market. This open ownership shows how far the company has come from its roots as a small partnership in Little Rock to become a major entertainment company with locations all over North America.

Legacy of the Founders and Company Growth

David Corriveau and James "Buster" Corley's influence reshaped the entertainment scene well beyond their first Dallas venue. Their concept continues to grow and evolve almost 40 years after they started it.

Passing of Corriveau and Corley

David Corriveau, one of the original owners of Dave and Busters, died in 2015 at age 63. His creative approach to adult entertainment changed how Americans spend their leisure time. 

James "Buster" Corley passed away in January 2023 at 72. Reports indicated that Corley had a stroke four months earlier that "caused severe damage to the communication and personality part of his brain." His daughter Kate shared that "Buster was a legend to us and will always be."

The company remembered Corley as "an innovative and creative force" whose "pioneering spirit and steadfast belief that 'everybody is somebody' set the foundation for bringing food and games to millions of Dave & Buster's guests over the past 40 years."

Dave & Buster's expansion across the U.S.

Dave & Buster's grew remarkably throughout North America by following their founders' innovative approach. The company's growth picked up speed after going public and reached over 150 locations across the United States. This success proved what the founders believed - adults wanted venues that combined quality dining with gaming experiences.

Acquisition of Main Event

Dave & Buster's bought Main Event Entertainment for $835 million in June 2022. This mutually beneficial alliance brought together two successful brands that target different groups. Main Event appeals to families with young children, while Dave & Buster's attracts young adults.

Current CEO and leadership

Chris Morris took over as Dave & Buster's CEO and joined its board of directors when the Main Event deal closed. He had led Main Event since 2018, where the brand grew its locations by over 30% and doubled its EBITDA in four years.

Kevin Sheehan, Dave & Buster's Board Chair, showed his support for Morris saying, "These two brands perfectly complement each other, and their joining puts our company in a strategically unparalleled position for accelerated, profitable growth under the leadership of Chris Morris."

The company now expects to save about $20 million over two years through support center consolidation and better supply chain efficiency after the acquisition.

Conclusion

The trip from local businesses to a nationwide entertainment empire shows the power of mutually beneficial partnerships. Dave and Buster's legacy thrives today, even after the founders passed away. The company grows through new locations and smart acquisitions like Main Event. 

Their groundbreaking "eatertainment" concept has transformed how adults play and dine throughout North America. This success proves that the best business ideas often come from watching what customers naturally want.

FAQs

Q1. Who were the original founders of Dave & Buster's? 

Dave & Buster's was founded by David Corriveau and James "Buster" Corley in 1982. They met in Little Rock, Arkansas, where they owned neighboring businesses before joining forces to create the unique "eatertainment" concept.

Q2. How did Dave & Buster's get its name? 

The name "Dave & Buster's" was decided by a coin toss between the two founders. David Corriveau won the toss, which is why his name appears first in the company's title.

Q3. What makes Dave & Buster's unique in the entertainment industry? 

Dave & Buster's pioneered the concept of combining a restaurant with an adult-oriented arcade and gaming area under one roof. This "eatertainment" model caters to adults seeking both dining and entertainment experiences in a single venue.

Q4. How has Dave & Buster's expanded since its founding? 

Since opening its first location in Dallas in 1982, Dave & Buster's has grown to over 150 venues across North America. The company went public in 1995 and again in 2014, enabling further expansion and solidifying its position in the entertainment industry.

Q5. What recent acquisition has Dave & Buster's made to further its growth? 

In June 2022, Dave & Buster's acquired Main Event Entertainment for $835 million. This strategic move allows the company to target different demographics, as Main Event focuses on families with young children while Dave & Buster's traditionally caters to young adults.