Multi-Dimensional Entertainment Eateries and Casual Dining Restaurants Look to Significantly Improve Dining Experiences by Offering New & Innovative Concepts Sure to Please Customers
Jun 25, 2015, 08:45 ET
CORAL SPRINGS, Florida, June 25, 2015 /PRNewswire/ --
New-Age Dining Concepts, Social Media & Technology have made rapid advances in the restaurant industry over the past couple of years as the industry doesn't want to lose its connection to the customer so establishments forge ahead by introducing state-of-the-art entertainment experiences for today's consumers. Entertainment Eateries & Restaurant Industry Companies in focus today Latitude 360, Inc. (OTC: LATX), Dave & Buster's Entertainment, Inc. (NASDAQ: PLAY), Yum! Brands, Inc. (NYSE: YUM), Aramark (NYSE: ARMK) and Buffalo Wild Wings, Inc. (NASDAQ: BWLD)
Latitude 360, Inc. (OTCQB: LATX) (http://www.latitude360.com), the "ultimate upscale multi-dimensional entertainment eatery," has entered into a non-binding letter of intent to acquire Major League Fantasy (MLF) (http://www.playmlf.com), a rapidly-growing player in the daily fantasy sports industry. Once consummated, the transaction will allow Latitude 360 to offer the first chain of live in-venue fantasy sports books. MLF's Founder and CEO Jesse Merl will remain President of the "360 Fantasy Live" division. The purchase price is a cash and stock deal valued at $8.5 million and is subject to definitive agreements, financing, and other conditions. Dawson James Securities is the Investment banker in the transaction. "With the potential acquisition of Major League Fantasy, we're excited to incorporate the best fantasy sports experience into Latitude 360's unmatched entertainment and dining experience," said Brent Brown, CEO of Latitude 360. "We at Latitude 360 see it as something our sports fan patrons will definitely enjoy when they come to visit our locations. They'll know we're giving them the best daily fantasy sports experience available anywhere, and our HD Sports Theaters are a perfect venue for the '360 Fantasy LIVE' daily fantasy sports experience."
Read the full LATX Press Release at http://www.financialnewsmedia.com/profiles/latx.html
The planned acquisition of MLF would put Latitude 360 in a unique position to grab a meaningful piece of what is expected to be a $6 to $10 billion-dollar market by the end of 2016 . Known for offering the premier user experience with a complete social platform, MLF has seen its user growth continue to accelerate, tripling over the past two months alone, in addition to partnering with the NBA World Champion Golden State Warriors. "Together with Latitude, we are creating a new way to play," said Merl. "We are confident that along with the ability to interact socially through our product, the ability to join in the energy of the live group viewing experience is going to be a differentiator that matters when people decide where to be during big games."
In other restaurant industry news and happenings: Dave & Buster's Entertainment, Inc. (NASDAQ: PLAY) News: "Dave and Buster's on steroids" coming to Blankenbaker Station - An entertainment complex that offers bowling, laser tag and a full-service menu is coming to Blankenbaker Station, the nearly 600-acre Class A Business Park off Interstate 64 near Blankenbaker Parkway. John Hollenbach, principal of Hollenbach-Oakley LLC, the firm developing Blankenbaker Station, announced that Dallas-based Main Event Entertainment purchased a little more than 6 acres inside the park after a lengthy courtship to attract the company to the Louisville area. Read the full article at http://www.bizjournals.com/louisville/news/2015/06/17/dave-and-busters-on-steroids-coming-to.html
Pizza Hut, a subsidiary of Yum! Brands, Inc. (NYSE: YUM) is bringing together two of America's most popular treats - pizza and hot dogs - in the form of its all-new Hot Dog Bites Pizza. The American rendition of the popular global pie features 28 premium mini hot dog bites baked into the crust and is served with a side of French's mustard. Read more at http://finance.yahoo.com/news/wait-over-pizza-hut-hot-110000609.html
From beer gardens to commemorative rubber duckies, Aramark (NYSE: ARMK), the global provider of award-winning services in food, facilities management and uniforms, has the food and merchandise needs of guests attending Tall Ships® Philadelphia-Camden 2015 covered. Aramark will provide food, beverage and retail merchandise service to the 325,000 expected festival visitors, who will gather on the banks of the Philadelphia and Camden waterfronts from June 25-28, to catch a glimpse, step aboard or even set sail on some of the world's most majestic ships along the Delaware River, as part of the largest sailing event in the United States this year.
Buffalo Wild Wings, Inc. (NASDAQ: BWLD) announced this month that it has exercised its right of first refusal to acquire substantially all of the assets of Alamowing Development, LLC, B III Wing, LLC, RioWing Development, LLC, AlamoWing NM Partners, LLC, AlamoWing NM Partners II, LLC, Southseas Wings, LLC and certain subsidiary and affiliated operating entities. The assets to be acquired consist primarily of 38 existing Buffalo Wild Wings® restaurants located in Texas, New Mexico and Hawaii and 3 Buffalo Wild Wings restaurants under development in New Mexico and Hawaii. The total purchase price for the assets is approximately $160 million.
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