GameWorks, a full entertainment and dining experience for families, teens and millennials with seven locations nationwide, has announced that ExWorks Capital 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.
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.
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.
Kaplan explained: “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,”
“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 concluded.