Market Overview

GameWorks, Inc. Under New Ownership; Philip N. Kaplan Named Chairman and Chief Executive Officer


Company Strengthens Leadership to Execute Entertainment Concept's
Strategic Growth Plans on Heels of New Ownership

, a full entertainment and dining experience for families, teens
and millennials with seven locations nationwide, announced today that ExWorks
has assumed full ownership of the Company and appointed new
leadership. ExWorks has been a lender to GameWorks since 2017, and
recently restructured its investment, giving it full control of the
Company. Concurrent with the change in corporate ownership, Philip N.
Kaplan was named chairman and chief executive officer. In this capacity,
Kaplan will lead day-to-day business operations and direct the Company's
growth and expansion.

This press release features multimedia. View the full release here:

Philip N. Kaplan, Chairman and Chief Executive Officer, GameWorks, Inc. (Photo: Business Wire)

Philip N. Kaplan, Chairman and Chief Executive Officer, GameWorks, Inc. (Photo: Business Wire)

Kaplan brings nearly 30 years of diverse business operational experience
at both public and private companies to his new leadership role. He has
established a proven track record in leading strategic operations and
helping companies scale to achieve rapid growth. Over the course of his
extensive career, Kaplan held myriad management positions in which he
directed efforts surrounding corporate mergers, acquisitions,
integrations and reorganizations.

Most recently, Kaplan served as managing partner of April Mountain
Properties, LLC, a family owned real-estate company that owns and
operates residential rental properties. During his five years in this
role, he grew the business substantially. Prior, he was chief executive
officer and board member at private equity-held dbtech, a leader in
healthcare workflow automation solutions. Kaplan also served as chief
operating officer and board member of Quality Systems, Inc.
(NASDAQ:QSII), a healthcare IT company. Earlier, he was chief strategy
officer of Internap Network Services Corporation (NASDAQ:INAP), which
acquired VitalStream Holdings, Inc. (NASDAQ:VSTH), a
software-as-a-network service that enabled enterprise, entertainment and
media clients to deliver video and audio experiences to global online
audiences, which Kaplan co-founded. Kaplan was president, chief
operating officer and Board member at VitalStream until the February
2007 acquisition. He was then instrumental in the transition and
integration of the two entities. Currently, Kaplan is a member of the
board of directors of the online action sports company,

Kaplan replaces Greg Stevens, who served as GameWorks' chief executive
officer for six years.

"GameWorks has built a strong foundation and established a solid
reputation in an industry that is continually expanding and poised for
considerable growth. With Phil at the helm, we see an enormous
opportunity to capitalize on this explosive market acceptance of
entertainment concepts by growing the GameWorks brand and footprint. We
look forward to the contributions he will make in his new leadership
role," noted Randall Abrahams, ExWorks' executive chairman.

"Joining the GameWorks leadership team allows me to bring a fresh and
dynamic new vision to the Company, one that is focused on ensuring our
guests have extraordinary, energetic and fun experiences when visiting
our locations. To this end, working closely with our new owners,
GameWorks will soon be bolstering several aspects of its stimulating
offering through key initiatives that will further distinguish the
Company within the family entertainment space and position it for
continued growth," Kaplan explained.

"Since its founding more than 20 years ago, GameWorks has become
recognized as a top destination for fun, food, excitement and a wide
variety of games and eSports, where we have become widely recognized for
our distinctive eSports Lounges. GameWorks will look to leverage the
strength of our management and on-site location teams as well as our
industry expertise to drive the future direction of our brand," Kaplan

About GameWorks, Inc.

offers a full entertainment and dining experience for families,
teens and millennials, from seven locations nationwide, including those
in Chesapeake, Va., Denver, Las Vegas, Nev., Minneapolis, Newport, Ky.,
Schaumberg, Ill. and Seattle. Each action-packed location ranges, on
average, from between 20-30,000 square feet and features more than 120
of the latest, most popular arcade and video games. Other interactive
activities, ranging from laser tag and state-of-the-art bowling alleys
to billiards and attractions, are offered at various locations.

GameWorks is recognized nationally for its electronic sports gaming,
which take place in its eSports Lounges, attracting 80,000+ guests
annually who participate in or watch tournaments.

GameWorks also operates Table
Top Tap House
, a top-rated, popular restaurant, sports bar and
social game hall serving modern American tavern-style food and drinks in
San Francisco.

For more information, please visit,
or connect with the Company on LinkedIn,
and Facebook.

View Comments and Join the Discussion!
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at