<PAGE>

FORM 4
                                             _________________________________
                                             |          OMB APPROVAL         |
[ ] Check this box if no longer subject      _________________________________
    to Section 16. Form 4 or Form 5          | OMB Number:          3235-0207|
    obligations may continue.  See           | Expires:        April 30, 1997|
    Instruction 1(b).                        | Estimated average burden      |
                                             | hours per response.......  0.5|
                                             _________________________________


                     U.S. SECURITIES AND EXCHANGE COMMISSION
                            WASHINGTON, D.C. 20549


                 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

    Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934,
       Section 17(a) of the Public Utility Holding Company Act of 1935 or
              Section 30(f) of the Investment Company Act of 1940

-------------------------------------------------------------------------------
1. Name and Address of Reporting Person

   Lewis, Joseph 
-----------------------------------------------------
   (Last)            (First)            (Middle)

   c/o Cay House, P.O. Box N7776
-----------------------------------------------------
                     (Street)

   Lyford Cay, New Providence, Bahamas
-----------------------------------------------------
   (City)               (State)         (Zip)

-------------------------------------------------------------------------------
2. Issuer Name and Ticker or Trading Symbol

   Dave & Busters, Inc. (DAB)

-------------------------------------------------------------------------------
3. IRS or Social Security Number of Reporting Person (Voluntary)

   

-------------------------------------------------------------------------------
4. Statement for Month/Year

   12/1999

-------------------------------------------------------------------------------
5. If Amendment, Date of Original (Month/Year)

   

-------------------------------------------------------------------------------
6. Relationship of Reporting Person(s) to Issuer
   (Check all applicable)

   [ ] Director                             [X] 10% Owner            
   [ ] Officer (give title below)           [ ] Other (specify below)


   --------------------------------------------------
       
-------------------------------------------------------------------------------


<PAGE>


<TABLE>
<CAPTION>
                        TABLE I -- Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
---------------------------------------------------------------------------------------------------------------------------------
                                                                                    5. Amount of     6. Owner-                
                                                                                       Securities       ship                  
                        2. Trans-     3. Trans-       4. Securities Acquired (A)       Beneficially     Form:                 
                           action        action          or Disposed of (D)            Owned at         Direct      7. Nature of 
                           Date          Code            (Instr. 3, 4 and 5)           End of           (D) or         Indirect  
1. Title of Security       (Month/    (Instr. 8)      --------------------------       Month            Indirect       Beneficial
   (Instr. 3)              Day/       ----------      Amount    (A) or     Price       (Instr.          (I)            Ownership 
                           Year)      Code    V                 (D)                    3 and 4)         (Instr. 4)     (Instr. 4)
---------------------------------------------------------------------------------------------------------------------------------
<S>                     <C>           <C>     <C>     <C>       <C>        <C>      <C>              <C>            <C> 
---------------------------------------------------------------------------------------------------------------------------------
Common Stock            12/20/1999     P              29,500     A         $6.1928  1,372,100           I              (1)
---------------------------------------------------------------------------------------------------------------------------------

---------------------------------------------------------------------------------------------------------------------------------

---------------------------------------------------------------------------------------------------------------------------------

---------------------------------------------------------------------------------------------------------------------------------

---------------------------------------------------------------------------------------------------------------------------------

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.                (over)

</TABLE>



<PAGE>


FORM 4 (continued)


<TABLE>
<CAPTION>
                           TABLE II -- Derivative Securities Acquired, Disposed of, or Beneficially Owned
                                    (e.g. puts, calls, warrants, options, convertible securities)
-----------------------------------------------------------------------------------------------------------------------------------
    1.        2.        3.         4.         5.             6.                 7.           8.        9.         10.       11.   
-----------------------------------------------------------------------------------------------------------------------------------
                                                                           Title and                           Ownership           
                                          Number of     Date Exer-         Amount of                           Form of             
                                          Derivative    cisable and        Underlying              Number of   Deriv-              
                                          Securities    Expiration         Securities      Price   Derivative  ative               
            Conver-             Trans-    Acquired (A)  Date (Month/       (Instr. 3       of      Securities  Security:           
            sion or   Trans-    action    or Disposed    Day/Year)          and 4)         Deriv-  Benefi-     Direct              
            Exercise  action    Code      of (D)        --------------    --------------   ative   cially      (D) or    Nature of 
Title of    Price of  Date      (Instr.   (Instr. 3,    Date                      Amount   Secur-  Owned at    Indirect  Indirect  
Derivative  Deriv-    (Month/    8)        4 and 5)     Exer-    Expir-           or Num-  ity     End of      (I)       Beneficial
Security    ative      Day/     --------  ----------    cis-     ation            ber of   (Instr. Month       (Instr.   Ownership 
(Instr. 3)  Security   Year)    Code  V   (A)   (D)     able     Date     Title   Shares    5)     (Instr. 4)   4)       (Instr. 4)
-----------------------------------------------------------------------------------------------------------------------------------
<S>         <C>       <C>       <C>  <C>  <C>   <C>     <C>      <C>      <C>     <C>      <C>     <C>         <C>       <C> 
-----------------------------------------------------------------------------------------------------------------------------------
Put 
Options
(obligation                                                               Common 
to buy)      $5       12/21/1999  S        300           (2)     5/2000   Stock   30,000   7/8      300         I         (1)
-----------------------------------------------------------------------------------------------------------------------------------
Put
(Obligation                                                               Common
to buy) (3)  $12.5                         500           (2)     2/00     Stock   50,000            500         I         (1)
-----------------------------------------------------------------------------------------------------------------------------------

-----------------------------------------------------------------------------------------------------------------------------------

-----------------------------------------------------------------------------------------------------------------------------------

-----------------------------------------------------------------------------------------------------------------------------------

-----------------------------------------------------------------------------------------------------------------------------------

-----------------------------------------------------------------------------------------------------------------------------------

-----------------------------------------------------------------------------------------------------------------------------------
</TABLE>


Explanation of Responses: 

(1) The securities reported herein are held by Mandarin, Inc. Joseph Lewis and
    Jane Lewis are the shareholders and directors of Mandarin, Inc. This
    filing shall not be deemed on admission that the Reporting Person is, for
    the purposes of Section 16 of the Securities Exchange Act of 1934 or 
    otherwise, the beneficial owner of any securities covered by this
    statement. The entire amount of Mandarin, Inc.'s holdings is reported 
    herein.

(2) Currently exercisable.

(3) Previously reported.

              /s/ Joseph Lewis                                   1/7/00
              ----------------------------------------     --------------------
              ** Signature of Reporting Person                    Date


** Intentional misstatements or omissions of facts constitute Federal Criminal
   Violations.  See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

Note: File three copies of this Form, one of which must be manually signed.
      If space provided is insufficient, see Instruction 6 for procedure.