Chuck E. Cheese's Could Go Public in 2017

The family arcade has a storied history tied into the birth of video games.

Author:: TheStreet Staff
Publish date:: Jan 19, 2017 12:32 PM EST

The private equity owner of CEC Entertainment, Apollo Global Management, has started talking about taking Chuck E. Cheese's public. The deal would be valued at over $1 billion, according to Reuters.

Chuck E. Cheese's first opened in San Jose, Calif., in 1977, when Atari's cofounder wanted to bring video games to a more family-friendly atmosphere. The restaurant/entertainment center/arcade went bankrupt in 1984 during the video game recession, and then merged with a competitor before Apollo Global Management bought it in 2014 for $94 million.

In 2012, the marketing team at CEC changed Chuck E. Cheese himself from a rat into a mouse and also gave him a rock star makeover. To complement his new look, Chuck is voiced by the lead singer of the band Bowling for Soup.

To keep the place friendly for adults, 70% of Chuck E. Cheese's have a liquor license.

This article was written by a staff member of TheStreet.