CORAL SPRINGS, Florida, July 16, 2015 /PRNewswire/ --
By combining new concepts and improved dining experiences for the restaurant industry indicates eating and dining establishments are doing whatever it takes to draw more consumers in order to increase revenues. Specialty Eateries & Restaurant venues in focus are Latitude 360 (OTC: LATX), Yum! Brands (NYSE: YUM), Dave & Buster's (NASDAQ: PLAY), The Cheesecake Factory (NASDAQ: CAKE) and Starbucks (NASDAQ: SBUX)
Latitude 360 (OTCQB: LATX) Gets The Fast Track On Exploding Daily Fantasy Sports Market With "360 Fantasy Live" - Having already achieved widespread success with its unique business model of luxury dining combined with several different forms of live entertainment, Latitude 360 recently expanded its growing portfolio with the acquisition of Major League Fantasy, a leader in the world of daily fantasy sports, a market that has exploded in popularity in recent years. Last year over 57 million Americans played fantasy sports, and by the end of 2016 it is estimated that fantasy sports will make up a 6 to 10 billion dollar industry, with daily fantasy games accounting for a growing stake in those figures. With this move, Latitude 360, which currently trades at $.52 cents per share, will enter into the multi-billion dollar industry of fantasy sports, boasting its own proprietary live fantasy game to take place in its restaurants, called "360 Fantasy Live". At $8.5 million in cash and stock, the deal is viewed as a favorable one for the company, as MLF had recently tripled in size and popularity just as the daily fantasy sports market is booming.
Read the full LATX announcement at http://www.financialnewsmedia.com/profiles/latx.html
The acquisition of MLF allows Latitude 360 to position itself as one of the first live, multimedia venues to offer in-house, high-stakes, competitive daily fantasy events. The "360 Fantasy Live" experience coincides with a major move by daily fantasy juggernaut DraftKings to partner with Los Angeles sports mega-plex the Staples Center to create a DraftKings bar and lounge where fantasy players can engage in the latest DraftKings games. With the success of DraftKings and its rival, FanDuel, Yahoo (NASDAQ: YHOO) recently decided the time was right to join the daily fantasy fray, launching its first ever daily format. While the company has long been one of the leaders in seasonal fantasy sports, their first entry into daily gaming marks an industry boom reflected in recent numbers that indicate over 55 million North Americans have engaged in fantasy sports this year alone. Right at the apex of this market explosion, LATX will offer one of the most original daily fantasy experiences available to consumers. It is the latest in a series of moves made by the company that are intended to gradually branch into new markets.
In other specialty/restaurant news and developments: Yum! Brands (NYSE: YUM) Reports Second-Quarter EPS of $0.69, a Decline of 5%, Excluding Special Items; Expects Strong Second Half in China; Reconfirms 2015 Full-Year EPS Growth of at least 10% - Read the report at http://finance.yahoo.com/news/yum-brands-reports-second-quarter-201000306.html
Dave & Buster's (NASDAQ: PLAY), the Dallas-based, game-themed restaurant featuring such entertainment as arcade games, plans to unveil a second Minnesota location. In addition to a restaurant in Maple Grove, a Dave & Buster's is coming to Southdale Center in Edina next month. A grand opening has been set for Aug. 3 for the spot on the third floor near Macy's.
Starbucks (NASDAQ: SBUX) officials say they will open 15 new locations in low income and predominantly minority neighborhoods, including a store near the epicenter of last year's unrest in Ferguson, Mo., as part of an effort to broaden the coffee company's footprint in urban areas where they have set a goal of spurring job growth. Company officials say the push dovetails with CEO Howard Schultz's pledge to hire 10,000 young Americans over the next three years who aren't currently employed or in school.
The Cheesecake Factory (NASDAQ: CAKE) will celebrate National Cheesecake Day in a big way this year by making it a two-day celebration and offering dine-in guests any slice of its more than 30 legendary flavors of cheesecake for half price* on both July 29 and July 30. Traditionally celebrated on July 30, The Cheesecake Factory will start its two-day National Cheesecake Day celebration a day early and unveil its newest flavor - Salted Caramel Cheesecake - on July 29. Dine-in guests can try a slice of the new Salted Caramel Cheesecake, or any of The Cheesecake Factory's more than 30 legendary flavors of cheesecake, for half price on both Wednesday, July 29 and Thursday, July 30*.
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