Originally Posted By Darkbeer <a href="http://orlando.bizjournals.com/orlando/stories/2006/02/27/daily8.html" target="_blank">http://orlando.bizjournals.com /orlando/stories/2006/02/27/daily8.html</a> >>Landry's Restaurants Inc. says it has bought 80 percent of the newly announced T-Rex restaurant concept and the majority interest in a second Asian concept with the working title of Asia from Schussler Creative Inc. for approximately $7.6 million. Houston-based Landry's (NYSE: LNY) says the T-Rex concept will be built at Downtown Disney, the resort's retail center, and the Asia concept will be added to the Asia section of Disney's Animal Kingdom theme park as part of the new Expedition Everest attraction. T-Rex would open in early 2008, and the Asia restaurant is scheduled for a summer 2007 opening. Schussler is a Minnesota-based, privately held company best known for founder Steve Schussler's creation of the Rainforest Cafe concept, which he sold to Landry's in 2000. Schussler has been developing the first T-Rex restaurant, now scheduled to open this summer at The Legends at Village West, a 750,000-square-foot outdoor shopping and entertainment lifestyle center near the Kansas Speedway in Kansas City, Kan. <<
Originally Posted By Darkbeer Landry's Restaurants, Inc. Press Release Landry's Acquires T-Rex(TM) Cafe From Schussler Creative, Including Two Disney Restaurant Sites HOUSTON, Feb. 27 -- Landry's Restaurants, Inc. , one of the nation's largest casual dining, entertainment and hospitality companies, announced that it has acquired 80 percent of the restaurant concept T-Rex(TM): A Prehistoric Family Adventure(TM), A Place to Eat, Shop, Explore and Discover(TM) from Schussler Creative, Inc. for approximately $7.6 million. The acquisition price includes reimbursements for research and development costs, accounts payable, construction draws and pre-opening expenses. In addition, based on the ultimate success of the venture (combined profits of all stores exceeding $20 million), Landry's can acquire Schussler Creative's 20 percent interest for an amount up to an additional $35 million under the agreement. T-Rex is a unique attraction that features dining and retail in an interactive prehistoric environment. The concept is built around water, fire and ice. Guests visiting T-Rex will be greeted with life-sized animatronic dinosaurs that live among cascading waterfalls, bubbling geysers, a fossil dig site and much more. Locations are planned domestically and internationally. The first is slated to open this spring in The Legends mall in Kansas City, Kansas, with another opening in Downtown Disney® (near Orlando) in early 2008. In addition to the T-Rex concept, Landry's has acquired a majority interest in Asia, Schussler Creative's new eatery that is expected to open by summer 2007 inside Disney's Animal Kingdom® Theme Park. Asia will offer full-service and quick-service dining in a setting reminiscent of the western Himalayan foothills in India and Nepal, featuring a rural "village" called Anandapur in a jungle with a tiny town-like section at its center. This Asian-fusion concept will feature detailed decor complete with antiques, as well as a retail component that will offer Asian goods ranging from sushi plates to fine teapots. "One of the major factors that drew us to this transaction was the chance to expand our operations with Disney," said Landry's President, Chairman and CEO Tilman J. Fertitta. "Our existing three Rainforest Cafes located at Downtown-Disney®, Disney's Animal Kingdom® Theme Park and Disneyland Resort in California generate approximately $80 million in revenue. We feel that the T-Rex and Asian theme concepts are a perfect fit with Disney's unmatched entertainment offerings." Schussler Creative Chairman Steve Schussler was the founder and creator of the popular Rainforest Cafe restaurant concept, which Landry's purchased in 2000. Rainforest Cafe has since grown to be one of the most successful Landry's concepts. "Landry's is the perfect strategic partner to turn our dream into an ongoing reality," said Steve Schussler. "Landry's has done an excellent job of maintaining the Rainforest Cafe brand as the premier themed eatery in the world. T-Rex uses elements familiar to Rainforest Cafe fans such as animatronics and special effects to create a whole new type of dining experience that takes visitors back in time in an educational and entertaining way." About Landry's Restaurants, Inc. Landry's Restaurants, Inc., is one of the nation's largest and fastest growing casual-dining and entertainment companies. Publicly traded on the New York Stock Exchange, Landry's owns and operates more than 300 properties, including Landry's Seafood House, Joe's Crab Shack, The Crab House, Rainforest Cafe, Charley's Crab, Willie G's Seafood & Steak House, The Chart House and Saltgrass Steak House. Landry's also owns several icon developments, including Downtown Aquarium complexes in Houston and Denver, Kemah Boardwalk, a magnificent 40-acre, family-oriented themed entertainment destination and the Golden Nugget hotel-casino properties in Las Vegas and Laughlin, Nevada. The Company employs over 38,000 workers in 36 states. This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be covered by safe harbors created thereby. Stockholders are cautioned that all forward- looking statements are based largely on the Company's expectations and involve risks and uncertainties, some of which cannot be predicted or are beyond the Company's control. A statement containing a projection of revenues, income, earnings per share, same store sales, capital expenditures, or future economic performance are just a few examples of forward-looking statements. Some factors that could realistically cause results to differ materially from those projected in the forward-looking statements include ineffective marketing or promotions, competition, weather, store management turnover, a weak economy, negative same store sales, the Company's inability or failure to continue its expansion strategy. The Company may not update or revise any forward-looking statements made in this press release.
Originally Posted By Disneymom443 AK really need more restaurants, and this will be a good one. Do you think they will put it on the dinning plan?
Originally Posted By Labuda More than likely, I'd say since it will be inside a park... at least, hopefully - not entirely sure since the two Rainforest Cafes aren't ion there, as far as I recall...
Originally Posted By Jim in Merced CA I'm sure I'm wrong, but these themed restaurants seem very dated to me. Rainforest Cafe is an okay place, but the food is just barely above average, and the surroundings are noisy and...noisy. Rainforest Cafe, and it sounds like the T-Rex one will be the same, is one of those places where parents go 'so my kids can run around and be noisy and other patrons don't care.' Obviously there's a market for that.
Originally Posted By smeeeko ehh I like Rainforest (the one in DD) for breakfast before anyone gets there but otherwise I just can't see eating there. I've never really had a good experience except the lunch I had w/ LPfan22 in the bar area before they got busy and the time I had a smoothie in the San Francisco location (again in the bar). Seems like a fun place for kids but I wouldn't go there again with anyone I actually wanted to talk to. What's the point? (unless we eat early & in the lounge area).. I am already hard of hearing and get really frustrated when I can't communicate with my friends/ family. (Luckily my mom is good at carrying napkins and pens in her purse) =P
Originally Posted By Mouskateer Someone said once about Rainforest Cafe... When they advertise... Shop comes before food... The ad for T-rex words it the samne way... LOL... Merchandise is priority... Not food... A PLACE TO SHOP AND EAT...
Originally Posted By xzoocrew Who would have known that the Rainforest Café and the Crab House are owned by the same group. The Crab House has no more theming than any average seafood place and my extended family goes there often (nationwide) because of the food. Rainforest has always left us thinking the food was OK but the higher prices were paying for really lame robot animation and good theming. We tried it twice and didn't hate it but just felt it was geared toward tourists not return visitors. My real point of this post is don't skip Crab House because of Rainforest. They are as different as can be.
