CEC Entertainment to Be Acquired by Affiliate of Apollo Global Management for $54.00/Share in Cash

An affiliate of Apollo Global Management, LLC

(together with its consolidated subsidiaries, “Apollo”) and CEC Entertainment, Inc.

(“CEC”) today announced that they have entered into a definitive merger agreement (the “Merger Agreement”) whereby Apollo, a leading global alternative investment manager, will acquire CEC, the nationally recognized leader in family dining and entertainment which operates 577 Chuck E. Cheese's stores, for approximately $1.3 billion, including the assumption of the Company's outstanding debt.