Core Summary

  • CEC Entertainment issued a press release on Tuesday announcing that it will promote Scott Drake to President and CEO, succeeding David McKillips, effective February 13.
  • Drake has served as the company's CFO since 2024. McKillips has led the parent company of Chuck E. Cheese and Peter Piper Pizza since 2020, and the company said he guided it through a period of "post-pandemic stabilization, transformation, and sustained growth."
  • Drake will oversee the company's next phase of growth, including the expansion of indoor playground brands (such as Chuck E. Cheese Adventure World), the rollout of Mega-Superhero Playgrounds, and the promotion of Chuck's Arcade within resorts.

In-Depth Analysis

During McKillips' tenure, CEC Entertainment underwent significant transformation. In early 2021, the company emerged from bankruptcy after being hit hard by the COVID-19 pandemic, which severely impacted the dining and entertainment industry. In the following years, McKillips led the expansion of Peter Piper Pizza, including opening multiple Peter Piper Express locations offering takeout and delivery only. The company also continued its international push and plans to open its first location in the UK in the near future.

In a LinkedIn post, McKillips said he is not yet ready to reveal his next move but described it as a "brand-new global challenge."

Drake has helped stabilize the company's finances over the past year and a half, bringing extensive leadership experience to this new role. Before joining CEC, he held executive positions at companies such as Farmer Brothers Coffee Co., GameStop, and 7-Eleven.

Last September, he led the completion of a $625 million private credit term loan agreement and amended CEC's existing revolving credit facility. Drake said in a statement at the time that the deal aligned with the company's goals of deleveraging its balance sheet, minimizing capital expenditures, and increasing free cash flow.

CEC Board Chairman Joshua Acheatel said: "Under Drake's financial leadership, CEC has strengthened its balance sheet, optimized its capital structure, and achieved growth through key strategic initiatives. Today, the company holds an enviable position among its peers."

Currently, CEC is focusing on enhancing its entertainment business segment after completing system-wide renovations and brand refreshes. Last July, the company opened Chuck's Arcade, with the first 10 locations in shopping malls offering a variety of arcade games for adults. Last November, the company opened its first Adventure World in Arlington, Texas, featuring a 12,000-square-foot indoor playground designed for children ages 3 to 8, including a trampoline zone and superhero playground, along with Pasqually's Snack Shop serving Chuck E. Cheese pizza, light bites, and beverages.

Last April, CEC permanently renamed 125 active play areas to "Chuck E. Cheese's Superhero Playgrounds," located across California, Colorado, Florida, New Jersey, New York, North Carolina, Oregon, Pennsylvania, Texas, and Utah, among other states.

Drake said in a statement: "CEC is heading into 2026 with strong momentum, and we are ready to accelerate domestic and international expansion, driving growth through brand extensions and diversified revenue streams."