|Bid||10.14 x 900|
|Ask||10.24 x 900|
|Day's Range||10.19 - 10.22|
|52 Week Range||9.22 - 10.79|
|Beta (3Y Monthly)||N/A|
|PE Ratio (TTM)||N/A|
|Earnings Date||May 14, 2019 - May 14, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
CEC Entertainment, owner of Chuck E. Cheese and Peter Piper Pizza, announced that its merger agreement with Leo Holdings Corp. has been terminated.
(Bloomberg) -- Chuck E. Cheese isn’t going public after all.The parent company of CEC Entertainment Inc., which runs Chuck E. Cheese and Peter Piper Pizza, will no longer merge with shell company Leo Holdings Corp. in order to go public on the New York Stock Exchange, according to a statement Monday. Leo’s shares soared the most since April 2018The now-defunct deal between CEC owner Queso Holdings Inc., its controlling stockholder Apollo Global Management LLC and so-called blank-check company Leo would have offered an alternative route from an initial public offering. The deal, first announced in April, valued the company at about $1.4 billion.The deal termination is effective immediately, and the companies gave no reason for the change of plans. The deal had been expected to close in the second quarter.Spokesmen for Apollo and CEC declined to comment.Chuck E. Cheese, acquired by private-equity firm Apollo in 2014 in a leveraged buyout, has been spending heavily to reinvent itself as the kind of place millennial parents want to go. That includes remodels costing as much as $575,000 apiece, with plans for 60 more this year, CEC’s Chief Executive Officer Tom Leverton said this spring.But even with renovations, there are a lot of rivals in the space. Dave & Buster’s Entertainment Inc., which operates a similar model to Chuck E. Cheese, has seen its shares fall 9% this year as same-store sales come under pressure even as the wider equities market gains. Shopping centers looking for out-of-the-box tenants are also increasingly renting space to in-mall entertainment options like bouncy castles, indoor playgrounds and escape rooms, adding to the number of kid-friendly spaces competing with the traditional players.CEC Entertainment’s $760 million first-lien loan slipped a point to around 98.5 cents on the dollar, according to people familiar with the pricing, down from about 99.5 before news of the terminated merger. The company’s notes due 2022 were quoted between 90 and 94 cents on the dollar, down from where they last traded at par, the people said.Leo shares climbed 10% to $10.18 at 11:35 a.m. in New York, just about making up for the decline in the shares since the Chuck E. Cheese deal was announced in April. Leo Holdings is backed by private equity firm Lion Capital.(Adds loan details.)\--With assistance from Sabrina Willmer, Craig Giammona and Katherine Doherty.To contact the reporter on this story: Anne Riley Moffat in New York at firstname.lastname@example.orgTo contact the editors responsible for this story: Crayton Harrison at email@example.com, Anne Riley MoffatFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
By John Jannarone What’s virtually immune to the economy, technological change, and the Amazon effect? The need to get children out of the house every now and then. Perhaps the best way to bet on that phenomenon is investing in Chuck E. Cheese, a children’s entertainment destination and restaurant founded in 1977 whose prospects are […]
LONDON, July 8, 2019 /PRNewswire/ -- Leo Holdings Corp. (LHC) (the "Company") announced that it has scheduled the extraordinary general meeting of its shareholders (the "Extraordinary Meeting") to approve the proposed business combination (the "Business Combination") between the Company and Queso Holdings Inc. ("Queso"), the parent company of CEC Entertainment, Inc., for July 30, 2019. The Business Combination will result in the formation of Chuck E. Cheese Brands Inc. ("New CEC").
IRVING, Texas, July 1, 2019 /PRNewswire/ -- CEC Entertainment, Inc. ("CEC" or the "Company"), a nationally recognized leader in family entertainment and dining, today announced preliminary unaudited comparable venue sales results for its second quarter and year-to-date periods ended June 30, 2019.
In an interview with TD Ameritrade Network, IPO Edge Editor in Chief John Jannarone explains that highflying tech IPOs such as Zoom (ticker: ZM) and Slack (ticker: WORK) offer great potential but will likely be very volatile given their steep price-to-sales multiples and slow paths to profitability. Instead, investors might consider shares of Leo Holdings […]
In an interview with Real Vision, IPO Edge Editor-in-Chief John Jannarone explains why investors should consider investing in Chuck E. Cheese parent CEC Entertainment though shares of a Special Purpose Acquisition Company, or SPAC, called Leo Holdings Corp. CEC is one of the first restaurants to go public in the last few years and has […]
Company to Participate at June Investor Conferences IRVING, Texas , May 14, 2019 /PRNewswire/ -- CEC Entertainment, Inc. ("CEC" or the "Company"), a nationally recognized leader in ...
IRVING, Texas , May 7, 2019 /PRNewswire/ -- CEC Entertainment, Inc. ("CEC" or the "Company"), a nationally recognized leader in family entertainment and dining, today announced that ...
In an interview with Real Vision, IPO Edge Editor-in-Chief John Jannarone explains the reasons for the recent success of Special Purpose Acquisition Companies, or SPACs, including the beneficial role of private-equity firms that have increasingly turned to such alternative vehicles. He also put at $15-a-share price target on Repay, which is being acquired by Thunder Bridge Acquisition. In […]
CEC Entertainment Inc., owner of Chuck E. Cheese and Peter Piper Pizza and part of Queso Holdings Inc., announced today that it's entered into a business combination agreement with Leo Holdings Corp. CEO Tom Leverton talked to the Business Journal more about what to expect from the transaction.
Chuck E. Cheese is returning to the public markets. CEC Entertainment Inc., which owns 750 Chuck E. Cheese and Peter Piper Pizza stores in the U.S. and abroad, expects to begin trading on the New York Stock Exchange under the ticker "CEC" in the second quarter. Dave & Buster's Entertainment, a food-and-arcade chain similar to Chuck E. Cheese, has more than tripled its share price to $53 since it went public in 2014.
Chuck E. Cheese's parent company is returning to the New York Stock Exchange through a merger with a special purpose company, making it the first restaurant company to enter the public market in four years.
LONDON and IRVING, Texas, April 8, 2019 /PRNewswire/ -- CEC Entertainment, Inc. ("CEC" or the "Company"), a nationally recognized leader in family entertainment and dining, and Leo Holdings, Corporation (LHC) ("Leo"), a publicly traded special purpose acquisition company, announced today that Leo and Queso Holdings, Inc. ("Queso"), the parent company of CEC, together with Queso's controlling stockholder, an entity owned by funds managed by affiliates of Apollo Global Management, LLC (APO) (together with its consolidated subsidiaries, "Apollo"), have entered into a definitive business combination agreement. CEC is a leading owner, operator, and franchisor of a global network of entertainment and dining venues across two complementary brands, Chuck E. Cheese and Peter Piper Pizza.
Leo Holdings Corp. (LHC) today announced that on October 3, 2018 the New York Stock Exchange (the “NYSE”) notified the Company that it was not currently in compliance with the requirement of Section 802.01B of the New York Stock Exchange Listed Company Manual (the “Manual”) that the Company’s Class A ordinary shares be held by a minimum of 300 public shareholders. Pursuant to such notice, the Company is subject to the procedures set forth in Sections 801 and 802 of the Manual and must submit a business plan that demonstrates how the Company expects to return to compliance with the minimum public shareholders requirement within 18 months of receipt of the notice. The notice and procedures described above have no effect on the listing of the Company’s securities at this time, and the Company intends to submit a plan to regain compliance as required by the rules of the NYSE.